AST BlackRock Value Portfolio - Prudential Annuities

AST Neuberger Berman / LSV Mid-Cap Value 0.90%
AST New Discovery Asset Allocation 0.85%
AST Parametric Emerging Markets Equity 1.10%
AST PIMCO Limited Maturity Bond 0.65%
AST PIMCO Total Return Bond 0.65%
AST Preservation Asset Allocation 0.15%
AST Prudential Core Bond 0.68%
AST QMA US Equity Alpha 0.84%
AST Quantitative Modeling 0.00%
AST Schroders Global Tactical (formerly, AST CLS Growth Asset Allocation) 0.95%
AST Schroders Multi-Asset World Strategies 1.10%
AST Small-Cap Growth 0.90%
AST Small-Cap Value 0.90%
AST T. Rowe Price Asset Allocation 0.85%
AST T. Rowe Price Equity Income (formerly, AST AllianceBernstein Core Value) 0.71%
AST T. Rowe Price Global Bond 0.78%
AST T. Rowe Price Large-Cap Growth 0.88%
AST T. Rowe Price Natural Resources 0.90%
AST Wellington Management Hedged Equity 0.73%
AST Western Asset Core Plus Bond 0.70%
Notes to Investment Management Fees Table:
AST Academic Strategies Asset Allocation Portfolio: The Investment Managers have voluntarily agreed to reimburse expenses and/or waive fees so that the Academic Strategies
Portfolio’s “Underlying Fund Fees and Expenses” do not exceed 0.685% of the Portfolio’s average daily net assets. For purposes of applying this voluntary expense cap, “Underlying
Fund Fees and Expenses” shall not include, and the Investment Managers shall not reimburse expenses or waive fees with respect to, taxes, short sale interest and dividend expenses,
brokerage commissions, distribution fees, and extraordinary expenses incurred by the relevant Underlying Funds. This arrangement will be monitored and applied daily based upon
the Academic Strategies Portfolio’s then current holdings of the Underlying Funds and the expense ratios of the relevant Underlying Funds as of their most recent fiscal year end.
Because the expense ratios of the relevant Underlying Funds will change over time and may be higher than the expense ratios as of their most recent fiscal year end, it is possible
that the Academic Strategies Portfolio’s actual “Underlying Fund Fees and Expenses” may be higher than 0.685% of the Portfolio’s average daily net assets. The arrangements relating
to the Portfolio’s “Underlying Fund Fees and Expenses” are voluntary and are subject to termination or modification at any time without prior notice.
AST Bond Portfolios: The AST Bond Portfolio 2023 commenced investment operations effective January 3, 2012.
The contractual management fee is based on the following fee structure: .65% on average daily net assets of up to $500 million, and .64% on average daily net assets in excess of
$500 million. For the purpose of fee calculations, the assets of the AST Bond Portfolio 2015, AST Bond Portfolio 2016, AST Bond Portfolio 2017, AST Bond Portfolio 2018, AST Bond
Portfolio 2019, AST Bond Portfolio 2020, AST Bond Portfolio 2021, AST Bond Portfolio 2022, AST Bond Portfolio 2023 and the AST Investment Grade Bond Portfolio will be aggregated.
AST Neuberger Berman Core Bond Portfolio and AST Prudential Core Bond Portfolio: The Investment Managers have contractually agreed to waive a portion of their investment
management fees so that each Portfolio’s investment management fee would equal 0.70% of the Portfolio’s first $500 million of average daily net assets, 0.675% of the Portfolio’s
average daily net assets between $500 million and $1 billion, and 0.65% of the Portfolio’s average daily net assets in excess of $1 billion through May 1, 2014. Each contractual
investment management fee waiver may not be terminated or modified prior to May 1, 2014, but may be discontinued or modified thereafter. The decision on whether to renew, modify,
or discontinue an expense limitation after May 1, 2014 will be subject to review by the Investment Managers and the Board.
AST Franklin Templeton Founding Funds Allocation Portfolio: The Franklin Templeton Founding Funds Allocation Portfolio commenced operations effective April 30, 2012.
Prudential Investments LLC and AST Investment Services, Inc. (together, the Investment Managers) have contractually agreed to waive a portion of their investment management fees
and/or reimburse certain expenses so that the investment management fees plus other expenses (exclusive in all cases of taxes, short sale interest and dividend expenses, brokerage
commissions, distribution fees, underlying fund fees and expenses, and extraordinary expenses) for the Portfolio do not exceed 1.10% of the average daily net assets of the Portfolio
through June 30, 2014. This expense limitation may not be terminated or modified prior to June 30, 2014, but may be discontinued or modified thereafter. The decision on whether to
renew, terminate or modify this waiver after June 30, 2014 will be subject to review by the Investment Managers and the Board of Trustees of the Trust.
AST Lord Abbett Core Fixed-Income Portfolio: The Investment Managers (Prudential Investments LLC and AST Investment Services, Inc.) have contractually agreed to waive a portion
of their investment management fee, so that the effective management fee rate paid by the Portfolio is as follows: 0.70% to $500 million of average daily net assets; 0.675% over
$500 million in average daily net assets up to and including $1 billion in average daily net assets; and 0.65% over $1 billion in average daily net assets. This arrangement may not
be terminated or modified prior to June 30, 2014, and may be discontinued or modified thereafter. The decision on whether to renew, modify or discontinue the arrangement after June
30, 2014 will be subject to review by the Investment Managers and the Fund’s Board of Trustees.
AST New Discovery Asset Allocation Portfolio: The Portfolio commenced investment operations effective April 30, 2012.
The Investment Managers have contractually agreed to waive a portion of their investment management fees and/or reimburse certain expenses so that the investment management
fees plus other expenses (exclusive in all cases of taxes, short sale interest and dividend expenses, brokerage commissions, distribution fees, acquired fund fees and expenses, and
extraordinary expenses) for the AST New Discovery Portfolio do not exceed 1.08% of its average daily net assets through June 30, 2013. This expense limitation may not be terminated
or modified prior to June 30, 2013, but may be discontinued or modified thereafter. The decision on whether to renew, modify, or discontinue this expense limitation after June 30, 2013
will be subject to review by the Investment Managers and the Board.
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