Mutual Funds

2020 ESTIMATED GAIN DISTRIBUTION NOTICE Below are estimates of the capital gain distributions scheduled to be paid for AB mutual funds.

Actual distributions will vary from these estimates based on All who own shares, on the record date, of a fund paying a the following: capital gain will receive the capital gain distribution on the payable date listed in the below chart. + Estimates do not reflect all required considerations. Actual capital gain distributions will be affected by all required tax considerations. The funds listed are currently projected to pay capital gain distributions. Because these are estimates, some of these funds + Estimates are computed through October 31, 2020, and do not include the full measurement period. may not pay capital gains or funds not currently on the list could pay capital gains. + Portfolio trading between October 31, 2020, and the distribution date may increase or decrease the capital gain. We strongly encourage you to discuss the implications of capital gains with your tax consultant and financial advisor prior to + Capital gains are paid on a per- basis. Changes in the number of shares outstanding could increase or decrease the amount per share. making any decisions.

2020 CAPITAL GAIN ESTIMATES AND DISTRIBUTION DATES Estimated Capital Gains per share as of October 31, 2020 Dates - Long- Distribution AB Funds Term Term Total* Class A NAV as a % NAV Record Ex Payable ALTERNATIVES Select US Long/Short Portfolio 0.42 0.24 0.66 13.05 5.07% 12/07/20 12/08/20 12/10/20 EQUITY Concentrated Growth Fund — 2.18 2.18 45.00 4.84% 12/08/20 12/09/20 12/11/20 Concentrated International Growth Portfolio 0.01 0.24 0.25 12.57 1.95% 12/10/20 12/11/20 12/15/20 Core Opportunities Fund — 0.62 0.62 19.96 3.09% 12/09/20 12/10/20 12/14/20 Discovery Growth Fund 0.07 2.29 2.36 13.45 17.52% 12/07/20 12/08/20 12/10/20 Equity Income Fund — 0.13 0.13 25.02 0.52% 12/09/20 12/10/20 12/14/20 FlexFee™ Emerging Markets Growth Portfolio 0.41 0.03 0.44 11.83 3.69% 12/11/20 12/14/20 12/15/20 FlexFee™ Large Cap Growth Portfolio 0.34 0.12 0.45 18.16 2.50% 12/30/20 12/31/20 01/05/21 FlexFee™ US Thematic Portfolio 0.11 0.20 0.31 16.72 1.87% 12/30/20 12/31/20 01/05/21 Growth Fund — 6.28 6.28 94.75 6.63% 12/07/20 12/08/20 12/10/20 Large Cap Growth Fund — 2.57 2.57 67.73 3.79% 12/07/20 12/08/20 12/10/20 Select US Equity Portfolio 0.24 0.42 0.66 17.19 3.87% 12/08/20 12/09/20 12/11/20 Small Cap Growth Portfolio 0.78 7.82 8.60 66.13 13.01% 12/07/20 12/08/20 12/10/20 Sustainable Global Thematic Growth Fund 2.75 9.32 12.07 150.38 8.03% 12/07/20 12/08/20 12/10/20 Sustainable International Thematic Fund 0.13 0.26 0.39 19.87 1.94% 12/10/20 12/11/20 12/15/20

* Totals may not sum due to rounding. Values that round to 0.00 are less than a penny.

Investment Products Offered • Are Not FDIC Insured • May Lose • Are Not Bank Guaranteed 2020 CAPITAL GAIN ESTIMATES AND DISTRIBUTION DATES Estimated Capital Gains per share as of October 31, 2020 Dates Short- Long- Distribution AB Funds Term Term Total* Class A NAV as a % NAV Record Ex Payable EQUITY Tax-Managed Wealth Appreciation Strategy — 0.04 0.04 16.05 0.23% 12/11/20 12/14/20 12/16/20 Wealth Appreciation Strategy 0.01 0.30 0.31 16.72 1.85% 12/11/20 12/14/20 12/16/20 FIXED INCOME Global Fund — 0.06 0.06 8.62 0.69% 12/03/20 12/04/20 12/07/20 Intermediate Duration Portfolio 0.06 0.17 0.24 13.97 1.68% 12/15/20 12/16/20 12/18/20 Total Return Bond Portfolio 0.01 0.15 0.16 11.53 1.37% 12/03/20 12/04/20 12/07/20 MULTI- Conservative Wealth Strategy 0.01 — 0.01 12.13 0.06% 12/11/20 12/14/20 12/16/20

* Totals may not sum due to rounding. Values that round to 0.00 are less than a penny. The status of any capital gains distributed to shareholders (i.e. whether or not they are considered short-term or long-term) depends on how long the fund owned the securities that produced the gain—not how long the shareholder owned shares in the fund. Short-Term Capital Gains: Capital gain income from held one year or less and is taxed at the ’s ordinary income tax rates in effect for the year. Long-Term Capital Gains: Capital gain income from assets held longer than one year and are generally taxed at a special long-term capital gains rate.

Investors should consider the investment objectives, risks, charges and expenses of the Fund/Portfolio carefully before investing. For copies of our prospectus or summary prospectus, which contain this and other information, visit us online at www.abfunds.com or contact your AB representative. Please read the prospectus and/or summary prospectus carefully before investing. AllianceBernstein , Inc. (ABI) is the distributor of the AB family of mutual funds. ABI is a member of FINRA and is an affiliate of AllianceBernstein L.P., the manager of the funds. The [A/B] logo is a registered service mark of AllianceBernstein and AllianceBernstein® is a registered service mark used by permission of the owner, AllianceBernstein L.P. © 2020 AllianceBernstein L.P.

UMF-147461-2020-10-20 GEN–5796–1020 www.abfunds.com