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Northern Trust Appointed Custodian for Dutch Pension Fund BPF Beton

1. Northern Trust appointed by BPF Beton for asset servicing. 2. BPF Beton has €1.2 billion in assets under management. 3. Northern Trust emphasizes commitment to Dutch pensions industry. 4. Pension system in Netherlands transitioning to defined contributions. 5. Northern Trust's expertise aligns with new pension legislation needs.

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Why Bullish?

This appointment indicates growing client trust and expanding market presence for NTRS. Historical precedent shows similar mandates positively influenced stock performance.

How important is it?

The strategic partnership reinforces Northern Trust's role in a key market. Its long-term commitments and expertise are expected to yield significant business opportunities as the pension landscape evolves.

Why Long Term?

The transition to defined contributions in the Netherlands implies sustained opportunities for Northern Trust's growth. Similar transitions globally have shown long-term increases in service demands.

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STTBKTROW
-Appointment Underscores Commitment to Supporting Dutch Pension Funds Migrating to New Pension System AMSTERDAM--(BUSINESS WIRE)--Northern Trust (Nasdaq: NTRS) announced today that it has been appointed by Dutch pension fund BPF Beton to provide global custody, regulatory reporting, valuation and accounting, and performance analytics. BPF Beton is the industry pension fund for people working in the concrete products industry in the Netherlands with approximately EUR 1.2 billion (approximately US$1.2 billion) in assets as at 31 December 2024. Herman Prummel, country head, Netherlands, Northern Trust, said: “We are pleased to be supporting BPF Beton. Northern Trust has been servicing Dutch pension clients for four decades and is a long-term strategic partner to the pensions industry. With our deep local market expertise, global scale, data and technology platform, Northern Trust is committed to the Dutch pensions industry and its evolving needs. This mandate showcases our regional commitment and expertise in ensuring a seamless, efficient transition to the new reporting standards. We look forward to working with BPF Beton and continuing to serve the needs of the Dutch pension fund industry.” The pension system in the Netherlands is migrating to a defined contribution system, known as the Future of Pensions Act or ‘Wet Toekomst Pensioenen’. BPF Beton sought an asset servicing partner that could help them through the changes brought on by the new legislation. Govert van der Peijl, president and chairman of BPF Beton, said: “This transition is complex and large scale. We sought a strategic service provider who understands the requirements under the new legislation and who can support us navigate this new landscape. Northern Trust impressed us with their rapid response to the new legislation and their dedication to the Dutch pension fund industry. We are pleased to collaborate with Northern Trust and look forward to their support as our scheme embarks on the next chapter of its journey to deliver the best possible outcomes for our members.” About BPF Beton BPF Beton is the sectoral pension scheme for employees active in the manufacturing industry for concrete products. Based in Amsterdam, they represent over 25,000 members as at 31 December 2024. About Northern Trust Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking 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 March 31, 2025, Northern Trust had assets under custody/administration of US$16.9 trillion, and assets under management of US$1.6 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. More News From Northern Trust Corporation

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