ALLIANCEBERNSTEIN HOLDING L.P.

Previous wording

AB Holding's net income for the three and six months ended June 30, 2025 decreased $43.3 million and $46.5 million, respectively, compared to the corresponding periods in 2024, primarily due to lower weighted average equity ownership interest in AB and lower net income attributable to AB Unitholders.

Current wording

AB Holding's net income for the three and nine months ended September 30, 2025 decreased $53.4 million and $99.9 million, respectively, compared to the corresponding periods in 2024, primarily due to lower weighted average equity ownership interest in AB (as discussed in Note 1 to the condensed financial statements in Item 1) and lower net income attributable to AB Unitholders primarily due to the recognition of a prior period gain of $128.5 million related to a fair value remeasurement of the contingent payment liability associated with AB's acquisition of AB CarVal in 2022 (as discussed in Note 11 to AB's condensed financial statements in Exhibit 99.1).

Previous wording

AB Holding’s partnership gross income is derived from its interest in AB. AB Holding’s income taxes, which reflect a 3.5% federal tax on its partnership gross income from the active conduct of a trade or business, are computed by multiplying AB qualifying revenues by AB Holding’s ownership interest in AB, multiplied by the 3.5% tax rate. AB qualifying revenues are primarily U.S. investment advisory fees. AB Holding's effective tax rate was 10.9% during the three months ended June 30, 2025, compared to 7.5% during the three months ended June 30, 2024. AB Holding's effective tax rate was 10.7% during the six months ended June 30, 2025, compared to 8.7% during the six months ended June 30, 2024. See Note 7 to the condensed financial statements in Item 1 for the calculation of income tax expense.

Current wording

AB Holding’s partnership gross income is derived from its interest in AB. AB Holding’s income taxes, which reflect a 3.5% federal tax on its partnership gross income from the active conduct of a trade or business, are computed by multiplying AB qualifying revenues by AB Holding’s ownership interest in AB, multiplied by the 3.5% tax rate. AB qualifying revenues are primarily U.S. investment advisory fees. AB Holding's effective tax rate was 9.4% during the three months ended September 30, 2025, compared to 6.7% during the three months ended September 30, 2024. AB Holding's effective tax rate was 10.3% during the nine months ended September 30, 2025, compared to 7.9% during the nine months ended September 30, 2024. See Note 7 to the condensed financial statements in Item 1 for the calculation of income tax expense.

Previous wording

These non-GAAP measures are provided in addition to, and not as substitutes for, net revenues, operating income and operating margin, and they may not be comparable to non-GAAP measures presented by other companies. Management uses both GAAP and non-GAAP measures in evaluating the company’s financial performance. The non-GAAP measures alone may pose

Current wording

These non-GAAP measures are provided in addition to, and not as substitutes for, net revenues, operating income and operating margin, and they may not be comparable to non-GAAP measures presented by other companies. Management uses both GAAP and non-GAAP measures in evaluating the company’s financial performance. The non-GAAP measures alone may pose limitations because they do not include all of AB’s revenues and expenses. Further, adjusted net income per AB Holding Unit is not a liquidity measure and should not be used in place of cash flow measures. See AB’s MD&A contained in Exhibit 99.1.

Previous wording

During the six months ended June 30, 2025, net cash provided by operating activities was $203.9 million, compared to $172.0 million during the corresponding 2024 period. The increase primarily resulted from higher cash distributions received from AB of $33.7 million.

Current wording

During the nine months ended September 30, 2025, net cash provided by operating activities was $275.1 million, compared to $253.0 million during the corresponding 2024 period. The increase primarily resulted from higher cash distributions received from AB of $19.8 million.

Previous wording

During the six months ended June 30, 2025, net cash used in financing activities was $203.9 million, compared to $172.0 million during the corresponding 2024 period. The increase was primarily due to higher cash distributions to Unitholders of $32.5 million.

Current wording

During the nine months ended September 30, 2025, net cash used in financing activities was $275.1 million, compared to $253.0 million during the corresponding 2024 period. The increase was primarily due to higher cash distributions to Unitholders of $20.4 million.

Previous wording

•The possibility that we will engage in open market purchases of AB Holding Units to help fund anticipated obligations under our incentive compensation award program: The number of AB Holding Units AB may decide to buy in future periods, if any, to help fund incentive compensation awards depends on various factors, some of which are beyond our control, including the fluctuation in the price of an AB Holding Unit (NYSE: AB) and the availability of cash to make these purchases.

Current wording

•The possibility that we will engage in open market purchases of AB Holding Units for anticipated obligations under our incentive compensation award program: The number of AB Holding Units AB may decide to buy in future periods, if any, for incentive compensation awards depends on various factors, some of which are beyond our control, including the fluctuation in the price of an AB Holding Unit (NYSE: AB) and the availability of cash to make these purchases.