Northern Trust Asset Management Enters Digital Assets Market with Launch of Tokenized Money Market Share Class

Tokenized share class underscores commitment to enhancing client outcomes through emerging technologies

Northern Trust Asset Management, a leading global investment management firm with US$1.4 trillion in assets under management as of December 31, 2025, launched a tokenized share class for its NIF Treasury Instruments Portfolio.

Marking the firm's entry into the digital assets market, the tokenized share class represents a digital mirror record of the fund's institutional share class using blockchain technology. This offering will initially be available to clients on BNY's (NYSE:BK) market-leading LiquidityDirect ^SM platform, which utilizes Goldman Sachs Digital Asset Platform ("GS DAP^®").

"This launch reflects Northern Trust Asset Management's commitment to delivering secure, efficient, and innovative liquidity solutions for institutional investors," said Paula Kar, Chief Product Officer, Northern Trust Asset Management. "Tokenization delivers meaningful advantages, including improved settlement efficiency and enhanced visibility. Money market funds are on the leading edge of digital innovation, and we are excited to advance our product suite in this evolving space."

"As the investment landscape rapidly evolves with the use of blockchain-based solutions, Northern Trust Asset Management is committed to staying on the forefront of innovation to meet the needs of our institutional clients." said Michael Hunstad, Ph. D., President, Northern Trust Asset Management. "By applying tokenization to institutional grade liquidity strategies, we are offering clients a modern, digital-first way to access money market investments while maintaining our high standards of governance, risk management and service."

The NIF Treasury Instruments Portfolio provides investors with exposure to a diversified pool of short-term U.S. Treasury instruments, now with the added option of a blockchain‑enabled access model designed to support operational resilience and evolving digital market infrastructure.

Northern Trust Asset Management has US$355 billion in assets under management in liquidity strategies as of December 31, 2025.

Please carefully read the prospectus and summary prospectus and consider the investment objectives, risks, charges and expenses of Northern Institutional Funds carefully before investing. Call 800-637-1380 to obtain a prospectus and summary prospectus, which contains this and other information about the funds.

Northern Funds Distributors, LLC, distributor. Northern Funds Distributors, LLC is not affiliated with Northern Trust

All investments are subject to investment risk, including the possible loss of principal amount invested. Investments do not typically grow at an even rate of return and may experience negative growth. As with any type of portfolio structuring, attempting to reduce risk and increase return could, at certain times, unintentionally reduce returns.

You could lose money by investing in the Portfolio. Although the Portfolio seeks to preserve the value of your investment at $1.00 per share, the Portfolio cannot guarantee it will do so. An investment in the Portfolio is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation, any other government agency, or The Northern Trust Company, its affiliates, subsidiaries or any other bank. The Portfolio's sponsor is not required to reimburse the Portfolio for losses, and you should not expect that the sponsor will provide financial support to the Portfolio at any time, including during periods of market stress.

Although the Portfolio does not currently employ blockchain technology or invest in crypto assets, Digital Enabled Shares are expected to be purchased and held through intermediaries that intend to use blockchain technology to maintain a mirror record of share ownership for their customers. The authorized financial intermediary, and not the Portfolio, NTI, TNTC or their affiliates, will be responsible ownership records on the blockchain.

NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE

About Northern Trust Asset Management

Northern Trust Asset Management is a global investment manager that helps investors navigate changing market environments in efforts to realize their long-term objectives. Entrusted with $1.4 trillion in assets under management as of December 31, 2025, we understand that investing ultimately serves a greater purpose and believe investors should be compensated for the risks they take — in all market environments and any investment strategy. That's why we combine robust capital markets research, expert portfolio construction and comprehensive risk management in an effort to craft innovative and efficient solutions that seek to deliver targeted investment outcomes. As engaged contributors to our communities, we consider it a great privilege to serve our investors and our communities with integrity, respect and transparency.

Northern Trust Asset Management is composed of Northern Trust Investments, Inc., Northern Trust Global Investments Limited, Northern Trust Fund Managers (Ireland) Limited, Northern Trust Global Investments Japan, K.K., NT Global Advisors, Inc., 50 South Capital Advisors, LLC, Northern Trust Asset Management Australia Pty Ltd, and investment personnel of The Northern Trust Company of Hong Kong Limited and The Northern Trust Company.

About Northern Trust

Northern Trust Corporation (NASDAQ:NTRS) is a leading provider of wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 24 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2025, Northern Trust had assets under custody/administration of US$18.7 trillion, and assets under management of US$1.8 trillion. For more than 135 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Instagram @northerntrustcompany or Northern Trust on LinkedIn.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.

About BNY

BNY is a global financial services platforms company at the heart of the world's capital markets. For more than 240 years BNY has partnered alongside clients, using its expertise and platforms to help them operate more efficiently and accelerate growth. Today BNY serves over 90% of Fortune 100 companies and nearly all the top 100 banks globally. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals. As of December 31, 2025, BNY oversees $59.3 trillion in assets under custody and/or administration and $2.2 trillion in assets under management.

BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE:BK). Headquartered in New York City, BNY has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.

About Goldman Sachs

Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

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