As approved by each entity May / June 2018

MODERN SLAVERY ACT STATEMENT – 2017
This statement is made pursuant to Section 54 of the Modern Slavery Act 2015 (UK) for the financial
year ended 31 December 2017 in respect of the following subsidiaries of State Street Corporation:••••

State Street Bank & Trust Company;
State Street Global Advisors Limited;
State Street International Bank GmbH; andState Street Europe Limited (together “State Street” or “We”).

State Street provides custody, depositary, investment, research and fund accounting, fundadministration, asset management, investment banking, and alternative investment services.
State Street is committed to fair, ethical and responsible business practices. We recognize that the riskof slavery or human trafficking exists in any supply chain and are taking steps to reduce that risk.
State Street supports fundamental principles of human rights, such as those adopted in the United
Nations’ Universal Declaration of Human Rights. We believe that upholding these principles is an
important component of our culture and values. As a signatory to the United Nations Global Compact(UNGC), we have confirmed our support of the UNGC’s ten principles and our intent to advance thoseprinciples within our organization, which include those principles relating to human rights abuses andforced labor.
Our commitment to fair, ethical and responsible business practices is central to our way ahead.

Supply chain standards
We expect our suppliers and their supply chain to comply fully with all applicable laws and regulations in
the conduct of their business; therefore although respecting human rights and environmental issues inthe supply chain is ultimately our suppliers’ responsibility, we have taken the following steps tocommunicate clearly our expectations to our suppliers.
As part of the supplier request for proposal (RfP) process managed by our global procurement services
team, potential suppliers are asked to confirm whether they have a policy in place prohibiting childand/or forced labor, whether the policy extends to their own suppliers and subcontractors, and toprovide a copy of the policy. Those potential suppliers are also asked for information about social
compliance audits of their own suppliers and subcontractors, with particular reference to significant
risks for incidents of child labor. That due diligence process also seeks information about a potential
supplier’s equal opportunity, human rights, anti-corruption, and health and safety policies.
Our global procurement services team specifically asks potential suppliers to confirm their compliancewith human rights laws, rules and regulations including the Modern Slavery Act 2015. Those potential
Information Classification: Generalsuppliers are also asked to provide information about how they monitor and comply with those legal
standards.
Suppliers who are subject to our standard supplier agreement are asked to represent and warrant thatthey comply with all applicable laws, regulations, and other legal obligations to their personnel
specifically including, but not limited to, employment laws, and prohibitions against insider trading,bribery, and corruption.
Additionally, suppliers who are engaged using our standard supplier agreement are asked to confirm
that they:-have not committed or been notified that they have been placed under investigation for any
offences relating to human trafficking and/or slavery;
are not aware of any circumstances within their supply chain that could give rise to an
investigation or a prosecution; andwill comply with the Modern Slavery Act 2015 and other legal standards relating to humantrafficking and/or slavery.

Those suppliers are asked to notify us immediately if those circumstances change. Additionally, thestandard supplier agreement asks them to provide us with their own UK Modern Slavery Act statement,
which sets out the steps they have taken to ensure that slavery and/or human trafficking is not taking
place in any of their supply chains or in any part of their business.
From time to time, potential suppliers are not able to provide the information requested in full or seek
to negotiate amendments to the standard supplier agreement. Such requests are dealt with on a case bycase basis, taking into consideration the risks associated with the supplier’s industry and its geographiclocation.

Recent initiatives
As part of its commitment to fair, ethical and responsible business practices, State Street has continued
to work on modern slavery initiatives throughout 2017 and into 2018. We started with our Third Party
Risk Management (TPRM) program, a process and framework designed to enable State Street toconsistently assess and manage the risks associated with our supply chain prior to, and throughout thelifecycle of, third party vendor engagement. We have taken a number of steps to build modern slavery
risks into this program, including developing scoping logic to determine which suppliers require review,
defining due diligence program questions and scoring, and defining issue management requirements
and an operational plan. Our work on this project continues.
To facilitate discussions between managers and their teams, we produced a “Team Talk” pack explaining
how the Modern Slavery Act applies to the corporate sector. We also introduced a Human Trafficking &Modern Slavery Policy which sets out State Street’s policy and expectations for all its staff and business
units globally. The policy prohibits human trafficking and related activities within State Street’s business,
including inappropriate recruitment practices, and mandates the use of applicable RfP and Master
Supplier Agreement templates and compliance with applicable TPRM processes.
Information Classification: General