State Street Global Advisors Announces Reverse Splits of Two ETFs

BOSTON--(BUSINESS WIRE)--State Street Global Advisors, the asset management business of State Street Corporation (NYSE: STT), today announced reverse splits will be implemented for the SPDR S&P Oil & Gas Equipment & Services ETF (XES) and the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) in order to potentially reduce trading costs for investors. Shares of both funds will trade at their post-reverse split price effective as of March 30, 2020.

The total net asset value of each of XOP and XES is not affected by the splits detailed below.

Fund Name	Ticker	Reverse Split Ratio
SPDR S&P Oil & Gas Equipment & Services ETF	XES	1:10
SPDR S&P Oil & Gas Exploration & Production ETF	XOP	1:4

“Our sector and industry SPDR ETFs are among the most heavily traded and widely used suite, allowing investors to gain targeted exposure while efficiently managing their total cost of ownership,” said Noel Archard, global head of SPDR product. “The reverse stock splits for XES and XOP are designed to increase the funds’ price per share and improve investors’ experience through our focus on the total cost of ownership, part of which is aided by maintaining a targeted price per share. With these changes, we look to help to reduce trading costs for investors seeking liquid access to these sub sectors of the oil industry.”

As a result of the reverse stock splits, shareholders of XES and XOP will typically receive cash in lieu of fractional shares. Certain shareholders, however, may have the potential to hold fractional shares; the treatment of those shares will be dependent upon each shareholder’s custodial relationship.

About SPDR Exchange Traded Funds

SPDR ETFs are a comprehensive family spanning an array of international and domestic asset classes. SPDR ETFs are sponsored by affiliates of State Street Global Advisors. The funds provide investors with the flexibility to select investments that are aligned to their investment strategy. Recognized as an industry pioneer, State Street created the first US listed ETF in 1993 and has remained on the forefront of responsible innovation, as evidenced by the introduction of many ground-breaking products, including first-to-market launches with gold, international real estate, international fixed income, and sector ETFs. For more information, visit www.spdrs.com.

About State Street Global Advisors

For four decades, State Street Global Advisors has served the world’s governments, institutions and financial advisors. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become the world’s third largest asset manager with nearly US $3.12 trillion* under our care.

* This figure is presented as of December 31, 2019 and includes approximately $45 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

Important Information

Investing involves risk including the risk of loss of principal.

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

Concentrated Investments in a particular sector or industry tend to be more volatile than the overall market and increases risk that events negatively affecting such sectors or industries could reduce returns, potentially causing the value of the fund’s share to decrease.

Equity Securities may fluctuate in value in response to the activities of individual companies and general market and economic conditions.

Distributor: State Street Global Markets, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Corporation. References to State Street may include State Street Corporation and its affiliates. Certain State Street affiliates provide services and receive fees from the SPDR ETFs.

Before investing, consider the funds' investment objectives, risks, charges and expenses. To obtain a prospectus which contains this and other information, call 1-866-787-2257 or visit www.spdrs.com. Read it carefully.

Not FDIC Insured • No Bank Guarantee • May Lose Value

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Expiration date: 03/31/2021