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[ ] Mark Griffin , Investors 629.213.5672 Jennifer Casey , Media 212.969.1157 mark.griffin@alliancebernstein.com jennifer.casey@alliancebernstein.com ALLIANCEBERNSTEIN HOLDING L.P. ANNOUNCES SECOND QUARTER RESULTS GAAP Diluted Net Income of $ 0.91 per Unit Adjusted Diluted Net Income of $ 0.91 per Unit Cash Distribution of $ 0.91 per Unit Nashville , TN , July 29 , 2021 - AllianceBernstein L.P. ( " AB " ) and AllianceBernstein Holding L.P. ( " AB Holding " ) ( NYSE : AB ) today reported financial and operating results for the quarter ended June 30 , 2021 . " We continue to drive consistent organic growth across our diversified global platform , " said Seth P. Bernstein , President and CEO of AllianceBernstein . " Active net inflows were $ 6.7 billion , or 4 % annualized organic growth , including both the final quarter of planned AXA redemptions and outflows from the Venerable transaction . Once again all three client channels grew , driven by double - digit annualized organic growth in active equities ( including ESG ) , tax - aware passive equities , municipals , alternatives and multi - asset . Our investment teams continued to deliver both improved near- and long - term performance , with two - thirds or more of fixed income and equity assets outperforming on a 3- and 5 - year basis . On a year - over - year basis , our adjusted operating margin of 31.7 % expanded by 380 basis points , and adjusted earnings per unit and distributions to Unitholders increased by 49 % . " ( US $ Thousands except per Unit amounts ) U.S. GAAP Financial Measures Net revenues Operating income Operating margin AB Holding Diluted EPU 2Q 2021 2Q 2020 % Change 1Q 2021 % Change $ $ 1,076,822 $ 283,623 $ 871,449 209,647 26.0 % $ 0.91 $ 21.7 % 0.59 23.6 % $ 35.3 % $ 430 bps 54.2 % $ 1,007,266 260,584 25.9 % 0.81 6.9 % 8.8 % 10 bps 12.3 % Adjusted Financial Measures ( 1 ) Net revenues $ 881,635 $ 698,725 Operating income $ 279,171 $ 195,013 26.2 % $ 43.2 % $ 819,978 7.5 % 260,061 7.3 % Operating margin 31.7 % 27.9 % 380 bps 31.7 % AB Holding Diluted EPU $ 0.91 $ 0.61 49.2 % $ 0.81 12.3 % AB Holding cash distribution per Unit $ 0.91 $ 0.61 49.2 % $ 0.81 12.3 % ( US $ Billions ) Assets Under Management ( " AUM " ) Ending AUM Average AUM $ $ 738.4 $ 600.0 722.6 $ 578.5 23.1 % $ 24.9 % $ 697.2 688.5 ( 1 ) 5.9 % 5.0 % The adjusted financial measures represent non - GAAP financial measures . See page 12 for reconciliations of GAAP Financial Results to Adjusted Financial Results and pages 13-14 for notes describing the adjustments . www.alliancebernstein.com 1 of 14