Company update on banking sector

Like many financial institutions, SEI is closely monitoring the continually evolving situation in the worldwide banking sector. Based on our internal assessments, which are ongoing and dependent upon the facts currently known to us, we currently believe that:

1. We will meet our contractual commitments to our customers in all material respects; and
2. Our processing services will not be disrupted in any material manner.

Individual transactions involving impacted institutions, including but not limited to Silicon Valley Bank, Signature Bank, First Republic Bank or any successor in interest to those institutions, however, may be disrupted, delayed, or reversed based on the actions that regulators have taken or may take or the inability of those banks listed or any successor in interest to meet relevant contractual obligations due to funding shortfalls.