All International Allocation Strategy

The Strategy seeks to provide a total investment return in excess of the performance of its benchmark index (the "Index") over the long term.

BENCHMARK: MSCI ACWI ex USA Index

SSGA actively allocates the Strategy's assets among two major asset classes, Non-US Developed and Emerging equities, in order to meet its investment objective. SSGA will overweight or underweight the Strategy's asset allocation to different asset classes based principally on its analysis of the relative attractiveness of the various asset classes. SSGA may reallocate the Strategy's assets among asset classes at any time it believes that the reallocation has the potential to increase the Strategy's investment return.

The Strategy seeks to generate excess return above the benchmark through two distinct mechanisms; namely, asset allocation and security selection within underlying managed investments. Broad asset class active weights around the benchmark for tactical positioning are constrained to +/-15% Non U.S. Developed Market ex Canada, +/-5% Canada, +/-15% for Emerging Markets, and +/-10% International Small Cap.

SSGA will typically implement its asset allocation decisions for the Strategy through investments in other investment pools managed by SSGA, exchange traded funds, and exchange traded or OTC derivatives. SSGA reserves the ability to implement all or any portion of the Strategy through investments directly in equities and other investments.

SSGA seeks to enable the Strategy to outperform the benchmark over the long term by employing both asset allocation and security selection investment strategies. There can be no assurance that the Strategy will achieve its investment objective.

Note:

The MSCI ACWI ex USA Index is a trademark of MSCI Inc.

There are risks involved with investing, including possible loss of principal. You should refer to the Strategy's Disclosure Document (SDD) for a complete description of the risks of investing in the Strategy. Please contact SSGA's relationship management team for a copy of the SDD.