UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-08426

AB SUSTAINABLE INTERNATIONAL THEMATIC FUND, INC.

(Exact name of registrant as specified in charter)

66 Hudson Boulevard East

New York, New York 10005

(Address of principal executive offices) (Zip code)

Stephen M. Woetzel

AllianceBernstein L.P.

66 Hudson Boulevard East

New York, New York 10005

(Name and address of agent for service)

Registrant’s telephone number, including area code: (800) 221-5672

Date of fiscal year end: June 30, 2026

Date of reporting period: December 31, 2025

ITEM 1. REPORTS TO STOCKHOLDERS.

Class A:AWPAX

December 31, 2025

An image of a QR code that, when scanned, navigates the user to the following URL: https://www.abfunds.com/link/AB/AWPAX-S

SCAN ME

Please scan QR code for Fund Information

AB Sustainable International Thematic Fund

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the AB Sustainable International Thematic Fund (the “Fund”) for the period of July 1, 2025 to December 31, 2025. You can find additional information about the Fund at https://www.abfunds.com/link/AB/AWPAX-S. You can also request this information by contacting us at (800) 227 4618.

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Class Name	Cost of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class A	$51	1.02%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized

Key Fund Statistics

Net Assets	$901,984,131
# of Portfolio Holdings	55
Portfolio Turnover Rate	37%
Total Advisory Fees Paid (Net)	$2,919,477

Graphical Representation of Holdings

10 Top Holdings

Company	U.S. $ Value	% of Net Assets
Taiwan Semiconductor Manufacturing Co., Ltd.	$41,341,277	4.6%
Halma PLC	$38,419,157	4.3%
Roche Holding AG	$38,308,362	4.2%
AIA Group Ltd. - Class H	$35,871,431	4.0%
Danone SA	$35,613,217	3.9%
Prysmian SpA	$33,623,914	3.7%
Samsung Electronics Co., Ltd.	$32,308,967	3.6%
Erste Group Bank AG	$31,969,542	3.5%
STERIS PLC	$31,282,086	3.5%
Veralto Corp.	$31,261,274	3.5%
Total	$349,999,227	38.8%

Class A:AWPAX

Sector Breakdown (% of Net Assets)

Financials	28.6%
Information Technology	24.6%
Health Care	16.1%
Industrials	12.2%
Consumer Staples	4.0%
Utilities	2.8%
Energy	2.1%
Communication Services	1.7%
Materials	1.0%
Consumer Discretionary	1.0%
Others	0.7%
Short-Term Investments	4.6%
Other assets less liabilities	0.6%
Total	100.0%

Country Breakdown (% of Net Assets)

United Kingdom	14.5%
United States	11.2%
Switzerland	9.4%
Canada	8.3%
Germany	6.7%
Italy	6.2%
Brazil	5.3%
Japan	5.1%
South Korea	5.0%
France	4.7%
Taiwan	4.6%
Hong Kong	4.0%
Austria	3.5%
Others	6.3%
Short-Term Investments	4.6%
Other assets less liabilities	0.6%
Total	100.0%

Availability of Additional Information

You can find additional information at https://www.abfunds.com/link/AB/AWPAX-S, including the Fund's:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at (800) 227 4618.

Householding

Shareholders who have consented to receive a single annual or semi-annual shareholder report at a shared address may revoke this consent by contacting us at (800) 227 4618.

The [A/B] logo and AllianceBernstein^® are registered trademarks used by permission of the owner, AllianceBernstein L.P.

SIT-A-0154-1225

Class A:AWPAX

Advisor Class:AWPYX

December 31, 2025

An image of a QR code that, when scanned, navigates the user to the following URL: https://www.abfunds.com/link/AB/AWPYX-S

SCAN ME

Please scan QR code for Fund Information

AB Sustainable International Thematic Fund

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the AB Sustainable International Thematic Fund (the “Fund”) for the period of July 1, 2025 to December 31, 2025. You can find additional information about the Fund at https://www.abfunds.com/link/AB/AWPYX-S. You can also request this information by contacting us at (800) 227 4618.

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Class Name	Cost of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Advisor Class	$39	0.77%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized

Key Fund Statistics

Net Assets	$901,984,131
# of Portfolio Holdings	55
Portfolio Turnover Rate	37%
Total Advisory Fees Paid (Net)	$2,919,477

Graphical Representation of Holdings

10 Top Holdings

Company	U.S. $ Value	% of Net Assets
Taiwan Semiconductor Manufacturing Co., Ltd.	$41,341,277	4.6%
Halma PLC	$38,419,157	4.3%
Roche Holding AG	$38,308,362	4.2%
AIA Group Ltd. - Class H	$35,871,431	4.0%
Danone SA	$35,613,217	3.9%
Prysmian SpA	$33,623,914	3.7%
Samsung Electronics Co., Ltd.	$32,308,967	3.6%
Erste Group Bank AG	$31,969,542	3.5%
STERIS PLC	$31,282,086	3.5%
Veralto Corp.	$31,261,274	3.5%
Total	$349,999,227	38.8%

Advisor Class:AWPYX

Sector Breakdown (% of Net Assets)

Financials	28.6%
Information Technology	24.6%
Health Care	16.1%
Industrials	12.2%
Consumer Staples	4.0%
Utilities	2.8%
Energy	2.1%
Communication Services	1.7%
Materials	1.0%
Consumer Discretionary	1.0%
Others	0.7%
Short-Term Investments	4.6%
Other assets less liabilities	0.6%
Total	100.0%

Country Breakdown (% of Net Assets)

United Kingdom	14.5%
United States	11.2%
Switzerland	9.4%
Canada	8.3%
Germany	6.7%
Italy	6.2%
Brazil	5.3%
Japan	5.1%
South Korea	5.0%
France	4.7%
Taiwan	4.6%
Hong Kong	4.0%
Austria	3.5%
Others	6.3%
Short-Term Investments	4.6%
Other assets less liabilities	0.6%
Total	100.0%

Availability of Additional Information

You can find additional information at https://www.abfunds.com/link/AB/AWPYX-S, including the Fund's:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at (800) 227 4618.

Householding

Shareholders who have consented to receive a single annual or semi-annual shareholder report at a shared address may revoke this consent by contacting us at (800) 227 4618.

The [A/B] logo and AllianceBernstein^® are registered trademarks used by permission of the owner, AllianceBernstein L.P.

SIT-ADV-0154-1225

Advisor Class:AWPYX

Class C:AWPCX

December 31, 2025

An image of a QR code that, when scanned, navigates the user to the following URL: https://www.abfunds.com/link/AB/AWPCX-S

SCAN ME

Please scan QR code for Fund Information

AB Sustainable International Thematic Fund

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the AB Sustainable International Thematic Fund (the “Fund”) for the period of July 1, 2025 to December 31, 2025. You can find additional information about the Fund at https://www.abfunds.com/link/AB/AWPCX-S. You can also request this information by contacting us at (800) 227 4618.

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Class Name	Cost of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class C	$90	1.79%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized

Key Fund Statistics

Net Assets	$901,984,131
# of Portfolio Holdings	55
Portfolio Turnover Rate	37%
Total Advisory Fees Paid (Net)	$2,919,477

Graphical Representation of Holdings

10 Top Holdings

Company	U.S. $ Value	% of Net Assets
Taiwan Semiconductor Manufacturing Co., Ltd.	$41,341,277	4.6%
Halma PLC	$38,419,157	4.3%
Roche Holding AG	$38,308,362	4.2%
AIA Group Ltd. - Class H	$35,871,431	4.0%
Danone SA	$35,613,217	3.9%
Prysmian SpA	$33,623,914	3.7%
Samsung Electronics Co., Ltd.	$32,308,967	3.6%
Erste Group Bank AG	$31,969,542	3.5%
STERIS PLC	$31,282,086	3.5%
Veralto Corp.	$31,261,274	3.5%
Total	$349,999,227	38.8%

Class C:AWPCX

Sector Breakdown (% of Net Assets)

Financials	28.6%
Information Technology	24.6%
Health Care	16.1%
Industrials	12.2%
Consumer Staples	4.0%
Utilities	2.8%
Energy	2.1%
Communication Services	1.7%
Materials	1.0%
Consumer Discretionary	1.0%
Others	0.7%
Short-Term Investments	4.6%
Other assets less liabilities	0.6%
Total	100.0%

Country Breakdown (% of Net Assets)

United Kingdom	14.5%
United States	11.2%
Switzerland	9.4%
Canada	8.3%
Germany	6.7%
Italy	6.2%
Brazil	5.3%
Japan	5.1%
South Korea	5.0%
France	4.7%
Taiwan	4.6%
Hong Kong	4.0%
Austria	3.5%
Others	6.3%
Short-Term Investments	4.6%
Other assets less liabilities	0.6%
Total	100.0%

Availability of Additional Information

You can find additional information at https://www.abfunds.com/link/AB/AWPCX-S, including the Fund's:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at (800) 227 4618.

Householding

Shareholders who have consented to receive a single annual or semi-annual shareholder report at a shared address may revoke this consent by contacting us at (800) 227 4618.

The [A/B] logo and AllianceBernstein^® are registered trademarks used by permission of the owner, AllianceBernstein L.P.

SIT-C-0154-1225

Class C:AWPCX

Class I:AWPIX

December 31, 2025

An image of a QR code that, when scanned, navigates the user to the following URL: https://www.abfunds.com/link/AB/AWPIX-S

SCAN ME

Please scan QR code for Fund Information

AB Sustainable International Thematic Fund

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the AB Sustainable International Thematic Fund (the “Fund”) for the period of July 1, 2025 to December 31, 2025. You can find additional information about the Fund at https://www.abfunds.com/link/AB/AWPIX-S. You can also request this information by contacting us at (800) 227 4618.

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Class Name	Cost of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class I	$42	0.84%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized

Key Fund Statistics

Net Assets	$901,984,131
# of Portfolio Holdings	55
Portfolio Turnover Rate	37%
Total Advisory Fees Paid (Net)	$2,919,477

Graphical Representation of Holdings

10 Top Holdings

Company	U.S. $ Value	% of Net Assets
Taiwan Semiconductor Manufacturing Co., Ltd.	$41,341,277	4.6%
Halma PLC	$38,419,157	4.3%
Roche Holding AG	$38,308,362	4.2%
AIA Group Ltd. - Class H	$35,871,431	4.0%
Danone SA	$35,613,217	3.9%
Prysmian SpA	$33,623,914	3.7%
Samsung Electronics Co., Ltd.	$32,308,967	3.6%
Erste Group Bank AG	$31,969,542	3.5%
STERIS PLC	$31,282,086	3.5%
Veralto Corp.	$31,261,274	3.5%
Total	$349,999,227	38.8%

Class I:AWPIX

Sector Breakdown (% of Net Assets)

Financials	28.6%
Information Technology	24.6%
Health Care	16.1%
Industrials	12.2%
Consumer Staples	4.0%
Utilities	2.8%
Energy	2.1%
Communication Services	1.7%
Materials	1.0%
Consumer Discretionary	1.0%
Others	0.7%
Short-Term Investments	4.6%
Other assets less liabilities	0.6%
Total	100.0%

Country Breakdown (% of Net Assets)

United Kingdom	14.5%
United States	11.2%
Switzerland	9.4%
Canada	8.3%
Germany	6.7%
Italy	6.2%
Brazil	5.3%
Japan	5.1%
South Korea	5.0%
France	4.7%
Taiwan	4.6%
Hong Kong	4.0%
Austria	3.5%
Others	6.3%
Short-Term Investments	4.6%
Other assets less liabilities	0.6%
Total	100.0%

Availability of Additional Information

You can find additional information at https://www.abfunds.com/link/AB/AWPIX-S, including the Fund's:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at (800) 227 4618.

Householding

Shareholders who have consented to receive a single annual or semi-annual shareholder report at a shared address may revoke this consent by contacting us at (800) 227 4618.

The [A/B] logo and AllianceBernstein^® are registered trademarks used by permission of the owner, AllianceBernstein L.P.

SIT-I-0154-1225

Class I:AWPIX

Class Z:AWPZX

December 31, 2025

An image of a QR code that, when scanned, navigates the user to the following URL: https://www.abfunds.com/link/AB/AWPZX-S

SCAN ME

Please scan QR code for Fund Information

AB Sustainable International Thematic Fund

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the AB Sustainable International Thematic Fund (the “Fund”) for the period of July 1, 2025 to December 31, 2025. You can find additional information about the Fund at https://www.abfunds.com/link/AB/AWPZX-S. You can also request this information by contacting us at (800) 227 4618.

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Class Name	Cost of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Class Z	$38	0.75%^{Footnote Reference*}

Footnote	Description
Footnote^*	Annualized

Key Fund Statistics

Net Assets	$901,984,131
# of Portfolio Holdings	55
Portfolio Turnover Rate	37%
Total Advisory Fees Paid (Net)	$2,919,477

Graphical Representation of Holdings

10 Top Holdings

Company	U.S. $ Value	% of Net Assets
Taiwan Semiconductor Manufacturing Co., Ltd.	$41,341,277	4.6%
Halma PLC	$38,419,157	4.3%
Roche Holding AG	$38,308,362	4.2%
AIA Group Ltd. - Class H	$35,871,431	4.0%
Danone SA	$35,613,217	3.9%
Prysmian SpA	$33,623,914	3.7%
Samsung Electronics Co., Ltd.	$32,308,967	3.6%
Erste Group Bank AG	$31,969,542	3.5%
STERIS PLC	$31,282,086	3.5%
Veralto Corp.	$31,261,274	3.5%
Total	$349,999,227	38.8%

Class Z:AWPZX

Sector Breakdown (% of Net Assets)

Financials	28.6%
Information Technology	24.6%
Health Care	16.1%
Industrials	12.2%
Consumer Staples	4.0%
Utilities	2.8%
Energy	2.1%
Communication Services	1.7%
Materials	1.0%
Consumer Discretionary	1.0%
Others	0.7%
Short-Term Investments	4.6%
Other assets less liabilities	0.6%
Total	100.0%

Country Breakdown (% of Net Assets)

United Kingdom	14.5%
United States	11.2%
Switzerland	9.4%
Canada	8.3%
Germany	6.7%
Italy	6.2%
Brazil	5.3%
Japan	5.1%
South Korea	5.0%
France	4.7%
Taiwan	4.6%
Hong Kong	4.0%
Austria	3.5%
Others	6.3%
Short-Term Investments	4.6%
Other assets less liabilities	0.6%
Total	100.0%

Availability of Additional Information

You can find additional information at https://www.abfunds.com/link/AB/AWPZX-S, including the Fund's:

• Prospectus

• Financial information

• Fund holdings

• Proxy voting information

You can also request this information by contacting us at (800) 227 4618.

Householding

Shareholders who have consented to receive a single annual or semi-annual shareholder report at a shared address may revoke this consent by contacting us at (800) 227 4618.

The [A/B] logo and AllianceBernstein^® are registered trademarks used by permission of the owner, AllianceBernstein L.P.

SIT-Z-0154-1225

Class Z:AWPZX

ITEM 2. CODE OF ETHICS.

Not applicable when filing a semi-annual report to shareholders.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Not applicable when filing a semi-annual report to shareholders.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

Not applicable when filing a semi-annual report to shareholders.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

Not applicable when filing a semi-annual report to shareholders.

ITEM 6. INVESTMENTS.

Please see Schedule of Investments contained in the Financial Statements included under Item 7 of this Form N-CSR.

ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

December 31, 2025

LOGO

SEMI-ANNUAL FINANCIAL STATEMENTS AND ADDITIONAL INFORMATION

AB Sustainable International Thematic Fund

LOGO



Investment Products Offered		• Are Not FDIC Insured • May Lose Value • Are Not Bank Guaranteed

Investors should consider the investment objectives, risks, charges and expenses of the Fund 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.

This shareholder report must be preceded or accompanied by the Fund’s prospectus for individuals who are not current shareholders of the Fund.

You may obtain a description of the Fund’s proxy voting policies and procedures, and information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, without charge. Simply visit AB’s website at www.abfunds.com, or go to the Securities and Exchange Commission’s (the “Commission”) website at www.sec.gov, or call AB at (800) 227 4618.

The Fund files its complete schedule of portfolio holdings with the Commission for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The Fund’s Form N-PORT reports are available on the Commission’s website at www.sec.gov. AB publishes full portfolio holdings for the Fund monthly at www.abfunds.com.

AllianceBernstein Investments, 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 Adviser of the funds.

The [A/B] logo and AllianceBernstein^® are registered trademarks used by permission of the owner, AllianceBernstein L.P.

PORTFOLIO OF INVESTMENTS

December 31, 2025 (unaudited)


Company	Shares		U.S. $ Value

COMMON STOCKS – 94.8%
Financials – 28.6%
Banks – 12.9%
BPER Banca SpA		667,970	$	9,025,931
Erste Group Bank AG		266,614		31,969,542
HDFC Bank Ltd.		1,850,707		20,444,566
Intesa Sanpaolo SpA		1,948,267		13,462,731
NatWest Group PLC		3,124,897		27,412,477
NU Holdings Ltd./Cayman Islands – Class A^(a)		827,418		13,850,977

				116,166,224

Capital Markets – 7.3%
London Stock Exchange Group PLC		228,360		27,469,083
Partners Group Holding AG		14,109		17,311,484
Patria Investments Ltd. – Class A		573,260		9,109,102
TMX Group Ltd.		305,573		11,628,048

				65,517,717

Consumer Finance – 2.0%
Credit Saison Co., Ltd.		325,800		8,739,697
Gentera SAB de CV		3,792,990		9,680,734

				18,420,431

Insurance – 6.4%
AIA Group Ltd. – Class H		3,485,000		35,871,431
Beazley PLC		1,955,324		21,865,600

				57,737,031

				257,841,403

Information Technology – 24.6%
Electronic Equipment, Instruments & Components – 6.4%
Halma PLC		809,423		38,419,157
IsuPetasys Co., Ltd.		153,160		12,700,831
VusionGroup		27,975		6,681,524

				57,801,512

IT Services – 3.3%
Shopify, Inc. – Class A^(a)		184,970		29,774,621


Semiconductors & Semiconductor Equipment – 8.8%
Infineon Technologies AG		662,595		28,909,657
NXP Semiconductors NV		42,649		9,257,392
Taiwan Semiconductor Manufacturing Co., Ltd.		841,000		41,341,277

				79,508,326

Software – 2.5%
SAP SE		93,636		22,750,601



ABFunds.com		AB Sustainable International Thematic Fund 1

PORTFOLIO OF INVESTMENTS (continued)


Company	Shares		U.S. $ Value

Technology Hardware, Storage & Peripherals – 3.6%
Samsung Electronics Co., Ltd.		385,480	$	32,308,967

				222,144,027

Health Care – 16.1%
Health Care Equipment & Supplies – 7.8%
Eckert & Ziegler SE		483,530		8,594,316
Shandong Weigao Group Medical Polymer Co., Ltd. – Class H		14,042,800		9,054,323
STERIS PLC		123,391		31,282,086
Terumo Corp.		1,504,792		21,872,415

				70,803,140

Health Care Providers & Services – 1.0%
Apollo Hospitals Enterprise Ltd.		111,550		8,735,181


Pharmaceuticals – 7.3%
Galderma Group AG^(a)		135,920		27,677,778
Roche Holding AG		92,763		38,308,362

				65,986,140

				145,524,461

Industrials – 12.2%
Commercial Services & Supplies – 3.5%
Veralto Corp.		313,302		31,261,274


Construction & Engineering – 1.6%
WSP Global, Inc.		78,844		14,275,845


Electrical Equipment – 3.7%
Prysmian SpA		337,057		33,623,914


Machinery – 0.1%
Kardex Holding AG (REG)		4,075		1,411,288


Professional Services – 3.3%
Experian PLC		309,153		13,938,651
RELX PLC		384,656		15,496,566

				29,435,217

				110,007,538

Consumer Staples – 4.0%
Food Products – 4.0%
Danone SA		394,829		35,613,217


Utilities – 2.8%
Water Utilities – 2.8%
Cia de Saneamento Basico do Estado de Sao Paulo SABESP		1,035,883		24,936,588



2 AB Sustainable International Thematic Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


Company		Shares			U.S. $ Value

Energy – 2.1%
Oil, Gas & Consumable Fuels – 2.1%
Cameco Corp.			209,013		$	19,122,600


Communication Services – 1.7%
Entertainment – 1.7%
Spotify Technology SA^(a)			26,110			15,162,338


Materials – 1.0%
Chemicals – 1.0%
Nissan Chemical Corp.			269,100			9,247,033


Consumer Discretionary – 1.0%
Broadline Retail – 1.0%
MercadoLibre, Inc.^(a)			4,479			9,021,871


Real Estate – 0.7%
Real Estate Management & Development – 0.7%
Katitas Co., Ltd.			308,300			6,269,415


Total Common Stocks (cost $642,321,088)						854,890,491


SHORT-TERM INVESTMENTS – 4.6%
Investment Companies – 4.5%
AB Fixed Income Shares, Inc. – Government Money Market Portfolio – Class AB, 3.615%^(b)(c)(d) (cost $40,905,785)			40,905,785			40,905,785


		Principal Amount (000)
Time Deposits – 0.1%
BBH, New York (0.90)%, 01/05/2026	CHF		72			90,424
0.27%, 01/02/2026	DKK		0	*		34
Citibank, London 0.81%, 01/02/2026	EUR		77			90,878
2.66%, 01/02/2026	GBP		67			90,814
HSBC, Hong Kong 2.38%, 01/02/2026	HKD		708			91,016
Nordea, Oslo 2.00%, 01/02/2026	NOK		1			145
Royal Bank of Canada, Toronto 1.08%, 01/02/2026	CAD		531			386,871
SEB, Stockholm (3.79)%, 01/02/2026	SEK		849			92,168
SMBC, Tokyo 0.15%, 01/05/2026	JPY		14,199			90,646



ABFunds.com		AB Sustainable International Thematic Fund 3

PORTFOLIO OF INVESTMENTS (continued)


Company		Principal Amount (000)			U.S. $ Value

Standard Chartered Bank, Johannesburg 4.55%, 01/02/2026	ZAR		0	*	$	4


Total Time Deposits (cost $933,000)						933,000


Total Short-Term Investments (cost $41,838,785)						41,838,785


Total Investments – 99.4% (cost $684,159,873)						896,729,276
Other assets less liabilities – 0.6%						5,254,855


Net Assets – 100.0%					$	901,984,131

Country Breakdown (% of Net Assets)


United Kingdom	14.5	%
United States	11.2	%
Switzerland	9.4	%
Canada	8.3	%
Germany	6.7	%
Italy	6.2	%
Brazil	5.3	%
Japan	5.1	%
South Korea	5.0	%
France	4.7	%
Taiwan	4.6	%
Hong Kong	4.0	%
Austria	3.5	%
Others	6.3	%
Short-Term Investments	4.6	%
Other assets less liabilities	0.6	%
Total	100.0	%

FORWARD CURRENCY EXCHANGE CONTRACTS (see Note D)


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Bank of America NA		KRW	3,602,170		USD	2,472		01/09/2026	$	(25,804	)
Bank of America NA		USD	8,283		KRW	12,111,418		01/09/2026		114,326
Bank of America NA		USD	17,698		KRW	24,782,373		01/09/2026		(515,866	)
Bank of America NA		JPY	451,426		USD	2,893		01/23/2026		6,607
Bank of America NA		USD	67,769		JPY	10,213,773		01/23/2026		(2,455,130	)
Bank of America NA		USD	39,128		AUD	60,208		01/28/2026		1,057,507
Bank of America NA		CHF	29,943		USD	37,610		01/29/2026		(293,313	)
Bank of America NA		EUR	2,861		USD	3,366		01/29/2026		(87	)
Bank of America NA		USD	8,432		SGD	10,815		02/26/2026		9,867
Bank of New York Mellon Corp. (The)		HKD	21,607		USD	2,783		01/14/2026		5,668



4 AB Sustainable International Thematic Fund		ABFunds.com

PORTFOLIO OF INVESTMENTS (continued)


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Barclays Bank PLC		BRL	13,699		USD	2,490		01/05/2026	$	(10,291	)
Barclays Bank PLC		USD	2,500		BRL	13,699		01/05/2026		(319	)
Barclays Bank PLC		KRW	19,279,389		USD	13,227		01/09/2026		(140,377	)
Barclays Bank PLC		HKD	221,927		USD	28,561		01/14/2026		36,494
Barclays Bank PLC		USD	75,944		CNH	536,815		01/16/2026		1,064,585
Barclays Bank PLC		USD	6,704		ZAR	112,776		02/26/2026		81,738
BNP Paribas SA		USD	3,110		EUR	2,674		01/29/2026		36,594
BNP Paribas SA		GBP	1,714		USD	2,310		02/26/2026		(249	)
BNP Paribas SA		MXN	72,269		USD	3,987		03/12/2026		(832	)
Brown Brothers Harriman & Co.		HKD	18,819		USD	2,424		01/14/2026		5,620
Brown Brothers Harriman & Co.		USD	2,222		HKD	17,253		01/14/2026		(4,793	)
Brown Brothers Harriman & Co.		USD	4,314		JPY	651,288		01/23/2026		(149,625	)
Brown Brothers Harriman & Co.		AUD	3,591		USD	2,353		01/28/2026		(43,290	)
Brown Brothers Harriman & Co.		USD	2,697		CAD	3,774		02/05/2026		56,414
Citibank NA		BRL	139,446		USD	25,343		01/05/2026		(104,752	)
Citibank NA		USD	25,026		BRL	139,446		01/05/2026		421,309
Citibank NA		USD	29,438		HKD	228,847		01/14/2026		(23,160	)
Citibank NA		CNH	36,482		USD	5,167		01/16/2026		(66,014	)
Citibank NA		USD	2,968		EUR	2,523		01/29/2026		518
Citibank NA		BRL	139,446		USD	24,842		02/03/2026		(407,536	)
Citibank NA		CAD	3,297		USD	2,361		02/05/2026		(44,549	)
Citibank NA		USD	2,416		INR	218,302		02/10/2026		4,830
Citibank NA		USD	10,661		INR	948,849		02/10/2026		(139,260	)
Deutsche Bank AG		USD	2,330		CNH	16,445		01/16/2026		29,284
Deutsche Bank AG		JPY	511,523		USD	3,289		01/23/2026		17,633
Deutsche Bank AG		USD	7,194		JPY	1,107,718		01/23/2026		(110,585	)
Deutsche Bank AG		USD	2,397		TWD	75,051		02/12/2026		(11,597	)
Deutsche Bank AG		GBP	43,388		USD	57,769		02/26/2026		(709,756	)
Goldman Sachs Bank USA		EUR	8,970		USD	10,560		01/29/2026		6,367
Goldman Sachs Bank USA		USD	2,229		ZAR	37,479		02/26/2026		26,422
HSBC Bank USA		CNH	88,187		USD	12,433		01/16/2026		(217,396	)
HSBC Bank USA		USD	3,575		CHF	2,821		01/29/2026		(3,613	)
HSBC Bank USA		USD	10,973		TWD	344,012		02/12/2026		(37,383	)
JPMorgan Chase Bank NA		KRW	5,699,928		USD	3,890		01/09/2026		(62,370	)
JPMorgan Chase Bank NA		USD	2,249		KRW	3,310,158		01/09/2026		46,455
JPMorgan Chase Bank NA		USD	12,249		HKD	95,213		01/14/2026		(11,389	)
JPMorgan Chase Bank NA		USD	2,270		CNH	16,093		01/16/2026		38,991
JPMorgan Chase Bank NA		USD	3,854		JPY	587,285		01/23/2026		(98,811	)
JPMorgan Chase Bank NA		CHF	1,859		USD	2,321		01/29/2026		(31,836	)
JPMorgan Chase Bank NA		EUR	2,278		USD	2,647		01/29/2026		(33,535	)
JPMorgan Chase Bank NA		USD	2,275		EUR	1,965		01/29/2026		37,174
JPMorgan Chase Bank NA		CAD	15,407		USD	11,193		02/05/2026		(47,914	)
JPMorgan Chase Bank NA		TWD	275,955		USD	8,928		02/12/2026		155,776
Morgan Stanley Capital Services LLC		BRL	141,260		USD	25,997		01/05/2026		217,992
Morgan Stanley Capital Services LLC		USD	25,672		BRL	141,260		01/05/2026		106,114
Morgan Stanley Capital Services LLC		KRW	3,771,042		USD	2,624		01/09/2026		9,313
Morgan Stanley Capital Services LLC		USD	3,046		IDR	50,768,640		01/23/2026		(6,286	)
Morgan Stanley Capital Services LLC		USD	2,563		JPY	398,850		01/23/2026		(12,876	)
Morgan Stanley Capital Services LLC		CHF	1,769		USD	2,210		01/29/2026		(29,542	)
Morgan Stanley Capital Services LLC		EUR	2,104		USD	2,479		01/29/2026		3,932
Morgan Stanley Capital Services LLC		EUR	2,516		USD	2,913		01/29/2026		(47,075	)
Morgan Stanley Capital Services LLC		USD	34,133		EUR	29,409		01/29/2026		468,461
Morgan Stanley Capital Services LLC		USD	10,300		TWD	325,778		02/12/2026		56,589
Morgan Stanley Capital Services LLC		USD	3,447		NOK	34,876		02/13/2026		12,902
Morgan Stanley Capital Services LLC		USD	5,611		ILS	17,969		03/12/2026		33,059



ABFunds.com		AB Sustainable International Thematic Fund 5

PORTFOLIO OF INVESTMENTS (continued)


Counterparty	Contracts to Deliver (000)			In Exchange For (000)			Settlement Date		Unrealized Appreciation (Depreciation)
Standard Chartered Bank		KRW	3,395,705		USD	2,397		01/09/2026	$	42,955
Standard Chartered Bank		USD	2,328		KRW	3,429,201		01/09/2026		49,123
Standard Chartered Bank		HKD	61,696		USD	7,940		01/14/2026		10,149
Standard Chartered Bank		USD	2,764		CNH	19,596		01/16/2026		47,251
Standard Chartered Bank		USD	2,236		TWD	69,623		02/12/2026		(23,218	)
UBS AG		BRL	11,885		USD	2,214		01/05/2026		44,996
UBS AG		USD	2,160		BRL	11,885		01/05/2026		8,928
UBS AG		KRW	16,078,002		USD	11,186		01/09/2026		38,724
UBS AG		KRW	5,308,666		USD	3,659		01/09/2026		(21,812	)
UBS AG		HKD	210,362		USD	27,049		01/14/2026		10,656
UBS AG		JPY	346,010		USD	2,230		01/23/2026		17,722
UBS AG		USD	3,716		JPY	568,355		01/23/2026		(82,043	)
UBS AG		EUR	2,004		USD	2,359		01/29/2026		865
UBS AG		USD	6,347		CHF	5,020		01/29/2026		7,675
UBS AG		USD	10,707		CAD	14,930		02/05/2026		186,231
UBS AG		USD	17,071		SEK	160,819		02/13/2026		433,395
UBS AG		GBP	4,108		USD	5,529		02/26/2026		(8,102	)

									$	(965,175	)

*	Principal amount less than 500.

(a)	Non-income producing security.

(b)	The rate shown represents the 7-day yield as of period end.

(c)	To obtain a copy of the fund’s shareholder report, please go to the Securities and Exchange Commission’s website at www.sec.gov. Additionally, shareholder reports for AB funds can be obtained by calling AB at (800) 227-4618.

(d)	Affiliated investments.

Currency Abbreviations:

AUD – Australian Dollar

BRL – Brazilian Real

CAD – Canadian Dollar

CHF – Swiss Franc

CNH – Chinese Yuan Renminbi (Offshore)

DKK – Danish Krone

EUR – Euro

GBP – Great British Pound

HKD – Hong Kong Dollar

IDR – Indonesian Rupiah

ILS – Israeli Shekel

INR – Indian Rupee

JPY – Japanese Yen

KRW – South Korean Won

MXN – Mexican Peso

NOK – Norwegian Krone

SEK – Swedish Krona

SGD – Singapore Dollar

TWD – New Taiwan Dollar

USD – United States Dollar

ZAR – South African Rand

Glossary:

REG – Registered Shares

See notes to financial statements.



6 AB Sustainable International Thematic Fund		ABFunds.com

STATEMENT OF ASSETS & LIABILITIES

December 31, 2025 (unaudited)


Assets
Investments in securities, at value
Unaffiliated issuers (cost $643,254,088)	$	855,823,491
Affiliated issuers (cost $40,905,785)		40,905,785
Cash		185
Cash collateral due from broker		950,000
Foreign currencies, at value (cost $173,997)		175,655
Receivable for investment securities sold		6,402,064
Unrealized appreciation on forward currency exchange contracts		5,067,211
Unaffiliated dividends receivable		4,178,625
Receivable for capital stock sold		328,058
Affiliated dividends receivable		121,626
Receivable due from Adviser		7,343

Total assets		913,960,043

Liabilities
Unrealized depreciation on forward currency exchange contracts		6,032,386
Payable for investment securities purchased and foreign currency transactions		3,062,118
Payable for capital gains taxes		1,261,787
Advisory fee payable		494,834
Cash collateral due to broker		470,000
Payable for capital stock redeemed		160,439
Administrative fee payable		99,810
Transfer Agent fee payable		33,065
Distribution fee payable		26,863
Directors’ fee payable		7,389
Accrued expenses		327,221

Total liabilities		11,975,912

Net Assets	$	901,984,131

Composition of Net Assets
Capital stock, at par	$	40,550
Additional paid-in capital		712,259,606
Distributable earnings		189,683,975

	$	901,984,131

Net Asset Value Per Share—27 billion shares of capital stock authorized, $.001 par value


Class	Net Assets		Shares Outstanding		Net Asset Value

A	$	125,282,981		5,849,787	$	21.42	*

C	$	385,890		17,331	$	22.27

Advisor	$	763,538,379		34,094,422	$	22.39

I	$	901,468		40,562	$	22.22

Z	$	11,875,413		547,817	$	21.68

*	The maximum offering price per share for Class A shares was $22.37, which reflects a sales charge of 4.25%.

See notes to financial statements.



ABFunds.com		AB Sustainable International Thematic Fund 7

STATEMENT OF OPERATIONS

Six Months Ended December 31, 2025 (unaudited)


Investment Income
Dividends
Unaffiliated issuers (net of foreign taxes withheld of $391,209)	$	4,237,654
Affiliated issuers		628,168
Interest		9,272		$	4,875,094

Expenses
Advisory fee (see Note B)		2,950,957
Transfer agency—Class A		27,820
Transfer agency—Class C		136
Transfer agency—Advisor Class		165,911
Transfer agency—Class I		489
Transfer agency—Class Z		1,618
Distribution fee—Class A		160,491
Distribution fee—Class C		2,236
Custody and accounting		123,710
Administrative		63,128
Audit and tax		54,957
Registration fees		47,592
Printing		28,948
Legal		28,915
Directors’ fees		13,656
Miscellaneous		25,860

Total expenses		3,696,424
Less: expenses waived and reimbursed by the Adviser (see Note B)		(31,480	)

Net expenses					3,664,944

Net investment income					1,210,150

Realized and Unrealized Gain (Loss) on Investment and Foreign Currency Transactions
Net realized gain (loss) on:
Investment transactions^(a)					8,701,006
Forward currency exchange contracts					(4,842,952	)
Foreign currency transactions					152,212
Net change in unrealized appreciation (depreciation) on:
Investments^(b)					(2,404,218	)
Forward currency exchange contracts					(651,137	)
Foreign currency denominated assets and liabilities					(113,998	)

Net gain on investment and foreign currency transactions					840,913

Net Increase in Net Assets from Operations				$	2,051,063

(a)	Net of foreign realized capital gains taxes of $15,857.

(b)	Net of decrease in accrued foreign capital gains taxes on unrealized gains of $205,299.

See notes to financial statements.



8 AB Sustainable International Thematic Fund		ABFunds.com

STATEMENT OF CHANGES IN NET ASSETS


	Six Months Ended December 31, 2025 (unaudited)			Year Ended June 30, 2025
Increase (Decrease) in Net Assets from Operations
Net investment income	$	1,210,150		$	8,167,147
Net realized gain on investment and foreign currency transactions		4,010,266			16,362,775
Net change in unrealized appreciation (depreciation) on investments and foreign currency denominated assets and liabilities		(3,169,353	)		77,835,849

Net increase in net assets from operations		2,051,063			102,365,771
Capital Stock Transactions
Net decrease		(20,479,588	)		(125,466,585	)

Total decrease		(18,428,525	)		(23,100,814	)
Net Assets
Beginning of period		920,412,656			943,513,470

End of period	$	901,984,131		$	920,412,656

See notes to financial statements.



ABFunds.com		AB Sustainable International Thematic Fund 9

NOTES TO FINANCIAL STATEMENTS

December 31, 2025 (unaudited)

NOTE A

Significant Accounting Policies

AB Sustainable International Thematic Fund, Inc. (the “Fund”) is organized as a Maryland corporation and is registered under the Investment Company Act of 1940 (the “1940 Act”) as a open-end management investment company. The Fund offers Class A, Class C, Advisor Class, Class I and Class Z shares. Class B, Class R, Class K and Class T shares have been authorized but currently are not offered. Effective May 20, 2024, Class R and Class K were liquidated. Class A shares are sold with a front-end sales charge of up to 4.25% for purchases not exceeding $1,000,000. With respect to purchases of $1,000,000 or more, Class A shares redeemed within one year of purchase may be subject to a contingent deferred sales charge of 1%. Class C shares are subject to a contingent deferred sales charge of 1% on redemptions made within the first year after purchase, and 0% after the first year of purchase. Class C shares automatically convert to Class A shares eight years after the end of the calendar month of purchase. Advisor Class, Class I and Class Z shares are sold without an initial or contingent deferred sales charge and are not subject to ongoing distribution expenses. At meetings held on August 5-6, 2025, the Fund’s Board of Directors (the “Board”) approved a reverse share split for Class C shares. The reverse share spilt was effective on October 20, 2025. All nine classes of shares have identical voting, dividend, liquidation and other rights, except that the classes bear different distribution and transfer agency expenses. Each class has exclusive voting rights with respect to its distribution plan. The financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”), which require management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements and amounts of income and expenses during the reporting period. Actual results could differ from those estimates. The Fund is an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. The following is a summary of significant accounting policies followed by the Fund.

1. Security Valuation

Portfolio securities are valued at market value determined on the basis of market quotations or, if market quotations are not readily available or are unreliable, at “fair value” as determined in accordance with procedures approved by and under the oversight of the Fund’s Board of Directors (the “Board”). Pursuant to these procedures, AllianceBernstein L.P. (the “Adviser”) serves as the Fund’s valuation designee pursuant to Rule 2a-5 of the 1940 Act. In this capacity, the Adviser is responsible, among other things, for making all fair value determinations relating to the Fund’s portfolio investments, subject to the Board’s oversight.



10 AB Sustainable International Thematic Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

In general, the market values of securities which are readily available and deemed reliable are determined as follows: securities listed on a national securities exchange (other than securities listed on the NASDAQ Stock Market, Inc. (“NASDAQ”)) or on a foreign securities exchange are valued at the last sale price at the close of the exchange or foreign securities exchange. If there has been no sale on such day, the securities are valued at the last traded price from the previous day. Securities listed on more than one exchange are valued by reference to the principal exchange on which the securities are traded; securities listed only on NASDAQ are valued in accordance with the NASDAQ Official Closing Price; listed and over-the-counter (“OTC”) put and call options are valued using market quotations when available. Listed options are generally valued at the last reported sale price, provided such price is within the bid-ask range, otherwise, they are valued based on the bid or ask price, as determined by a pricing service; options on futures may be valued at their settlement prices; OTC options, including flexible exchange-traded options (“Flex Options”), are generally valued using models that consider the terms of the option and relevant market inputs and are typically valued at transaction price on the trade date; open futures are valued using the closing settlement price or, in the absence of such a price, the most recent quoted bid price. If there are no quotations available for the day of valuation, the last available closing settlement price is used; U.S. Government securities and any other debt instruments having 60 days or less remaining until maturity are generally valued at market by an independent pricing vendor, if a market price is available. If a market price is not available, the securities are valued at amortized cost. This methodology is commonly used for short-term securities that have an original maturity of 60 days or less, as well as short-term securities that had an original term to maturity that exceeded 60 days. In instances when amortized cost is utilized, the Valuation Committee (the “Committee”) must reasonably conclude that the utilization of amortized cost is approximately the same as the fair value of the security. Factors the Committee will consider include, but are not limited to, an impairment of the creditworthiness of the issuer or material changes in interest rates. Fixed-income securities, including mortgage-backed and asset-backed securities, may be valued on the basis of prices provided by a pricing service or at a price obtained from one or more of the major broker-dealers. In cases where broker-dealer quotes are obtained, the Adviser may establish procedures whereby changes in market yields or spreads are used to adjust, on a daily basis, a recently obtained quoted price on a security. Swaps and other derivatives are valued daily, primarily using independent pricing services, independent pricing models using market inputs, as well as third party broker-dealers or counterparties. Open-end mutual funds are valued at the closing net asset value per share, while exchange traded funds are valued at the closing market price per share.

Securities for which market quotations are not readily available (including restricted securities) or are deemed unreliable are valued at fair value as deemed appropriate by the Adviser. Factors considered in making this determination may



ABFunds.com		AB Sustainable International Thematic Fund 11

NOTES TO FINANCIAL STATEMENTS (continued)

include, but are not limited to, information obtained by contacting the issuer, analysts, analysis of the issuer’s financial statements or other available documents. In addition, the Fund may use fair value pricing for securities primarily traded in non-U.S. markets because most foreign markets close well before the Fund values its securities at 4:00 p.m., Eastern Time. The earlier close of these foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Fund generally values many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available.

2. Fair Value Measurements

In accordance with U.S. GAAP regarding fair value measurements, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. U.S. GAAP establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability (including those valued based on their market values as described in Note A.1 above). Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s own assumptions about the assumptions that market participants would use in pricing the asset or liability based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier hierarchy of inputs is summarized below.

•

Level 1—quoted prices in active markets for identical investments

•

Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

•

Level 3—significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The fair value of debt instruments, such as bonds, and over-the-counter derivatives is generally based on market price quotations, recently executed market transactions (where observable) or industry recognized modeling techniques and are generally classified as Level 2. Pricing vendor inputs to Level 2 valuations may include quoted prices for similar investments in active markets, interest rate curves, coupon rates, currency rates, yield curves, option adjusted spreads, default rates, credit spreads and other unique security features in order to estimate the relevant cash flows which are then discounted to calculate fair values. If these inputs are unobservable and significant to the fair value, these investments will be classified as Level 3.



12 AB Sustainable International Thematic Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

Where readily available market prices or relevant bid prices are not available for certain equity investments, such investments may be valued based on similar publicly traded investments, movements in relevant indices since last available prices or based upon underlying company fundamentals and comparable company data (such as multiples to earnings or other multiples to equity). Where an investment is valued using an observable input, such as another publicly traded security, the investment will be classified as Level 2. If management determines that an adjustment is appropriate based on restrictions on resale, illiquidity or uncertainty, and such adjustment is a significant component of the valuation, the investment will be classified as Level 3. An investment will also be classified as Level 3 where management uses company fundamentals and other significant inputs to determine the valuation.

The following table summarizes the valuation of the Fund’s investments by the above fair value hierarchy levels as of December 31, 2025:

Investments in
Securities

Level 1

Level 2

Level 3

Total

Assets:

Common Stocks:

Financials

44,268,861

213,572,542

– 0

–

257,841,403

Information Technology

39,032,013

183,112,014

– 0

–

222,144,027

Health Care

31,282,086

114,242,375

– 0

–

145,524,461

Industrials

45,537,119

64,470,419

– 0

–

110,007,538

Consumer Staples

– 0

–

35,613,217

– 0

–

35,613,217

Utilities

– 0

–

24,936,588

– 0

–

24,936,588

Energy

19,122,600

– 0

–

– 0

–

19,122,600

Communication Services

15,162,338

– 0

–

– 0

–

15,162,338

Materials

– 0

–

9,247,033

– 0

–

9,247,033

Consumer Discretionary

9,021,871

– 0

–

– 0

–

9,021,871

Real Estate

– 0

–

6,269,415

– 0

–

6,269,415

Short-Term Investments:

Investment Companies

40,905,785

– 0

–

– 0

–

40,905,785

Time Deposits

933,000

– 0

–

– 0

–

933,000

Total Investments in Securities

245,265,673

651,463,603

⁺

– 0

–

896,729,276

Other Financial Instruments*:

Assets

Forward Currency Exchange Contracts

– 0

–

5,067,211

– 0

–

5,067,211

Liabilities

Forward Currency Exchange Contracts

– 0

–

(6,032,386

)

– 0

–

(6,032,386

)

Total

245,265,673

650,498,428

– 0

–

895,764,101

+	A significant portion of the Fund’s foreign equity investments are categorized as Level 2 investments since they are valued using fair value prices based on third party vendor modeling tools to the extent available, see Note A.1.

Other financial instruments include derivative instruments, such as futures, forwards and swaps. Derivative instruments are valued at the unrealized appreciation (depreciation) on the instrument. Other financial instruments may also include swaps with upfront premiums, written options and written swaptions which are valued at market value.

3. Currency Translation

Assets and liabilities denominated in foreign currencies and commitments under forward currency exchange contracts are translated into U.S. dollars at the



ABFunds.com		AB Sustainable International Thematic Fund 13

NOTES TO FINANCIAL STATEMENTS (continued)

mean of the quoted bid and ask prices of such currencies against the U.S. dollar. Purchases and sales of portfolio securities are translated into U.S. dollars at the rates of exchange prevailing when such securities were acquired or sold. Income and expenses are translated into U.S. dollars at the rates of exchange prevailing when accrued.

Net realized gain or loss on foreign currency transactions represents foreign exchange gains and losses from sales and maturities of foreign fixed income investments, holding of foreign currencies, currency gains or losses realized between the trade and settlement dates on foreign investment transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent amounts actually received or paid. Net unrealized currency gains and losses from valuing foreign currency denominated assets and liabilities at period end exchange rates are reflected as a component of net unrealized appreciation or depreciation of foreign currency denominated assets and liabilities.

4. Taxes

It is the Fund’s policy to meet the requirements of the Internal Revenue Code applicable to regulated investment companies and to distribute all of its investment company taxable income and net realized gains, if any, to shareholders. Therefore, no provisions for federal income or excise taxes are required. The Fund may be subject to taxes imposed by countries in which it invests. Such taxes are generally based on income and/or capital gains earned or repatriated. Taxes are accrued and applied to net investment income, net realized gains and net unrealized appreciation/depreciation as such income and/or gains are earned.

In accordance with U.S. GAAP requirements regarding accounting for uncertainties in income taxes, management has analyzed the Fund’s tax positions taken or expected to be taken on federal and state income tax returns for all open tax years (the current and the prior three tax years) and has concluded that no provision for income tax is required in the Fund’s financial statements.

5. Investment Income and Investment Transactions

Dividend income is recorded on the ex-dividend date or as soon as the Fund is informed of the dividend. Interest income is accrued daily. Investment transactions are accounted for on the date the securities are purchased or sold. Investment gains or losses are determined on the identified cost basis. Non-cash dividends, if any, are recorded on the ex-dividend date at the fair value of the securities received. The Fund amortizes premiums and accretes discounts as adjustments to interest income. The Fund accounts for distributions received from real estate investment trust (“REIT”) investments or from regulated investment companies as dividend income, realized gain, or return of capital based on information provided by the REIT or the investment company.



14 AB Sustainable International Thematic Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

6. Class Allocations

All income earned and expenses incurred by the Fund are borne on a pro-rata basis by each outstanding class of shares, based on the proportionate interest in the Fund represented by the net assets of such class, except for class specific expenses which are allocated to the respective class. Realized and unrealized gains and losses are allocated among the various share classes based on respective net assets.

7. Dividends and Distributions

Dividends and distributions to shareholders, if any, are recorded on the ex-dividend date. Income dividends and capital gains distributions are determined in accordance with federal tax regulations and may differ from those determined in accordance with U.S. GAAP. To the extent these differences are permanent, such amounts are reclassified within the capital accounts based on their federal tax basis treatment; temporary differences do not require such reclassification.

8. Cash and Short-Term Investments

Cash and short-term investments include cash on hand and short-term investments with maturities of less than one year when purchased.

9. Segment Information

The Fund represents a single operating segment. An operating segment is defined in U.S. GAAP as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The Fund’s President is the CODM. The CODM monitors the operating results of the Fund as a whole and the pre-determined Fund’s long term investment strategy, which is executed by the portfolio management group. The qualitative and quantitative information contained within the financial statements is used by the CODM to assess the segment’s performance versus the Fund’s comparative benchmark and to make resource allocation decisions. Segment assets are reflected on the statement of assets and liabilities and segment expenses are listed on the statement of operations.

NOTE B

Advisory Fee and Other Transactions with Affiliates

Under the terms of the investment advisory agreement, the Fund pays the Adviser an advisory fee at an annual rate of .65% of the first $2.5 billion, .55% of the next $2.5 billion and .50% in excess of $5 billion, of the Fund’s average daily net assets. The fee is accrued daily and paid monthly. The Adviser has agreed to waive its fees and bear certain expenses to the extent necessary to limit total operating expenses on an annual basis (the “Expense Caps”) to 1.50%, 2.25%,



ABFunds.com		AB Sustainable International Thematic Fund 15

NOTES TO FINANCIAL STATEMENTS (continued)

1.25%, 1.25% and 1.25% of the daily average net assets for Class A, Class C, Advisor Class, Class I and Class Z shares, respectively. The Expense Caps will remain in effect until October 31, 2026 and will be automatically extended for one-year periods thereafter unless terminated by the Adviser upon 60 days’ notice to the Fund prior to that date. For the six months ended December 31, 2025, there was no such reimbursement. The Expense Caps may not be terminated by the Adviser before October 31, 2026.

Pursuant to the investment advisory agreement, the Fund may reimburse the Adviser for certain legal and accounting services provided to the Fund by the Adviser. For the six months ended December 31, 2025, the reimbursement for such services amounted to $63,128.

The Fund compensates AllianceBernstein Investor Services, Inc. (“ABIS”), a wholly-owned subsidiary of the Adviser, under a Transfer Agency Agreement for providing personnel and facilities to perform transfer agency services for the Fund. ABIS may make payments to intermediaries that provide omnibus account services, sub-accounting services and/or networking services. Such compensation retained by ABIS amounted to $89,936 for the six months ended December 31, 2025.

AllianceBernstein Investments, Inc. (the “Distributor”), a wholly-owned subsidiary of the Adviser, serves as the distributor of the Fund’s shares. The Distributor has advised the Fund that it has retained front-end sales charges of $488 from the sale of Class A shares and received $163 and $0 in contingent deferred sales charges imposed upon redemptions by shareholders of Class A and Class C shares, respectively, for the six months ended December 31, 2025.

The Fund may invest in AB Government Money Market Portfolio which has a contractual annual advisory fee rate of .20% of the portfolio’s average daily net assets and bears its own expenses. Effective September 1, 2023, the Adviser has contractually agreed to waive .05% of the advisory fee of AB Government Money Market Portfolio (resulting in a net advisory fee of .15%) until August 31, 2024. In connection with the investment by the Fund in AB Government Money Market Portfolio, the Adviser has contractually agreed to waive its advisory fee from the Fund in an amount equal to the Fund’s pro rata share of the effective advisory fee of AB Government Money Market Portfolio, as borne indirectly by the Fund as an acquired fund fee and expense. For the six months ended December 31, 2025, such waiver amounted to $31,480.



16 AB Sustainable International Thematic Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

A summary of the Fund’s transactions in AB mutual funds for the six months ended December 31, 2025 is as follows:


Fund	Market Value 6/30/25 (000)		Purchases at Cost (000)		Sales Proceeds (000)		Market Value 12/31/25 (000)		Dividend Income (000)
AB Government Money Market Portfolio	$	41,228	$	154,662	$	154,984	$	40,906	$	628

NOTE C

Distribution Services Agreement

The Fund has adopted a Distribution Services Agreement (the “Agreement”) pursuant to Rule 12b-1 under the 1940 Act. Under the Agreement, the Fund pays distribution and servicing fees to the Distributor at an annual rate of up to .30% of the Fund’s average daily net assets attributable to Class A shares and 1% of the Fund’s average daily net assets attributable to Class C shares. There are no distribution and servicing fees on Advisor Class, Class I and Class Z shares. The fees are accrued daily and paid monthly. Payments under the Agreement in respect of Class A shares are currently limited to an annual rate of .25% of Class A shares’ average daily net assets. The Agreement provides that the Distributor will use such payments in their entirety for distribution assistance and promotional activities. Since the commencement of the Fund’s operations, the Distributor has incurred expenses in excess of the distribution costs reimbursed by the Fund in the amount of $4,462,860 for Class C shares. While such costs may be recovered from the Fund in future periods so long as the Agreement is in effect, and the share class is active, the rate of the distribution and servicing fees payable under the Agreement may not be increased without a shareholder vote. In accordance with the Agreement, there is no provision for recovery of unreimbursed distribution costs incurred by the Distributor beyond the current fiscal year for Class A shares. The Agreement also provides that the Adviser may use its own resources to finance the distribution of the Fund’s shares.

NOTE D

Investment Transactions

Purchases and sales of investment securities (excluding short-term investments) for the six months ended December 31, 2025, were as follows:


	Purchases			Sales
Investment securities (excluding U.S. government securities)	$	319,250,549		$	345,855,094
U.S. government securities		– 0	–		– 0	–



ABFunds.com		AB Sustainable International Thematic Fund 17

NOTES TO FINANCIAL STATEMENTS (continued)

The cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes. Accordingly, gross unrealized appreciation and unrealized depreciation are as follows:


Gross unrealized appreciation	$	233,953,353
Gross unrealized depreciation		(22,349,125	)

Net unrealized appreciation	$	211,604,228

1. Derivative Financial Instruments

The Fund may use derivatives in an effort to earn income and enhance returns, to replace more traditional direct investments, to obtain exposure to otherwise inaccessible markets (collectively, “investment purposes”), or to hedge or adjust the risk profile of its portfolio.

The principal type of derivative utilized by the Fund, as well as the methods in which they may be used are:

•

Forward Currency Exchange Contracts

The Fund may enter into forward currency exchange contracts in order to hedge its exposure to changes in foreign currency exchange rates on its foreign portfolio holdings, to hedge certain firm purchase and sale commitments denominated in foreign currencies and for non-hedging purposes as a means of making direct investments in foreign currencies, as described below under “Currency Transactions”.

A forward currency exchange contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated forward rate. The gain or loss arising from the difference between the original contract and the closing of such contract would be included in net realized gain or loss on forward currency exchange contracts. Fluctuations in the value of open forward currency exchange contracts are recorded for financial reporting purposes as unrealized appreciation and/or depreciation by the Fund. Risks may arise from the potential inability of a counterparty to meet the terms of a contract and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar.

During the six months ended December 31, 2025, the Fund held forward currency exchange contracts for hedging purposes.

The Fund typically enters into International Swaps and Derivatives Association, Inc. Master Agreements (“ISDA Master Agreement”) with its OTC derivative contract counterparties in order to, among other things, reduce its credit risk to OTC counterparties. ISDA Master Agreements include provisions for general obligations, representations, collateral and events of default or termination. Under an ISDA Master Agreement, the Fund typically may offset with the OTC counterparty certain derivative financial instruments’ payables and/or receivables with



18 AB Sustainable International Thematic Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

collateral held and/or posted and create one single net payment (close-out netting) in the event of default or termination. In the event of a default by an OTC counterparty, the return of collateral with market value in excess of the Fund’s net liability, held by the defaulting party, may be delayed or denied.

The Fund’s ISDA Master Agreements may contain provisions for early termination of OTC derivative transactions in the event the net assets of the Fund decline below specific levels (“net asset contingent features”). If these levels are triggered, the Fund’s OTC counterparty has the right to terminate such transaction and require the Fund to pay or receive a settlement amount in connection with the terminated transaction. If OTC derivatives were held at period end, please refer to netting arrangements by the OTC counterparty tables below for additional details.

During the six months ended December 31, 2025, the Fund had entered into the following derivatives:


	Asset Derivatives			Liability Derivatives
Derivative Type	Statement of Assets and Liabilities Location	Fair Value		Statement of Assets and Liabilities Location		Fair Value
Foreign currency contracts	Unrealized appreciation on forward currency exchange contracts	$	5,067,211		Unrealized depreciation on forward currency exchange contracts	$	6,032,386

Total		$	5,067,211			$	6,032,386


Derivative Type	Location of Gain or (Loss) on Derivatives Within Statement of Operations	Realized Gain or (Loss) on Derivatives			Change in Unrealized Appreciation or (Depreciation)
Foreign currency contracts	Net realized gain/(loss) on forward currency exchange contracts; Net change in unrealized appreciation (depreciation) on forward currency exchange contracts	$	(4,842,952	)	$	(651,137	)

Total		$	(4,842,952	)	$	(651,137	)



ABFunds.com		AB Sustainable International Thematic Fund 19

NOTES TO FINANCIAL STATEMENTS (continued)

The following table represents the average monthly volume of the Fund’s derivative transactions during the six months ended December 31, 2025:


Forward Currency Exchange Contracts:
Average principal amount of buy contracts	$	396,923,817
Average principal amount of sale contracts	$	310,379,488

For financial reporting purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the statement of assets and liabilities.

All OTC derivatives held at period end were subject to netting arrangements. The following table presents the Fund’s derivative assets and liabilities by OTC counterparty net of amounts available for offset under ISDA Master Agreements (“MA”) and net of the related collateral received/pledged by the Fund as of December 31, 2025. Exchange-traded derivatives and centrally cleared swaps are not subject to netting arrangements and as such are excluded from the tables.


Counterparty	Derivative Assets Subject to a MA		Derivatives Available for Offset			Cash Collateral Received*			Security Collateral Received*			Net Amount of Derivative Assets
Bank of America NA	$	1,188,307	$	(1,188,307	)	$	– 0	–	$	– 0	–	$	– 0	–
Bank of New York Mellon Corp. (The)		5,668		– 0	–		– 0	–		– 0	–		5,668
Barclays Bank PLC		1,182,817		(150,987	)		– 0	–		– 0	–		1,031,830
BNP Paribas SA		36,594		(1,081	)		– 0	–		– 0	–		35,513
Brown Brothers Harriman & Co.		62,034		(62,034	)		– 0	–		– 0	–		– 0	–
Citibank NA		426,657		(426,657	)		– 0	–		– 0	–		– 0	–
Deutsche Bank AG		46,917		(46,917	)		– 0	–		– 0	–		– 0	–
Goldman Sachs Bank USA		32,789		– 0	–		– 0	–		– 0	–		32,789
JPMorgan Chase Bank NA		278,396		(278,396	)		– 0	–		– 0	–		– 0	–
Morgan Stanley Capital Services LLC		908,362		(95,779	)		(470,000	)		– 0	–		342,583
Standard Chartered Bank		149,478		(23,218	)		– 0	–		– 0	–		126,260
UBS AG		749,192		(111,957	)		– 0	–		– 0	–		637,235

Total	$	5,067,211	$	(2,385,333	)	$	(470,000	)	$	– 0	–	$	2,211,878	^


Counterparty	Derivative Liabilities Subject to a MA		Derivatives Available for Offset			Cash Collateral Pledged*			Security Collateral Pledged*			Net Amount of Derivative Liabilities
Bank of America NA	$	3,290,200	$	(1,188,307	)	$	(520,000	)	$	– 0	–	$	1,581,893
Barclays Bank PLC		150,987		(150,987	)		– 0	–		– 0	–		– 0	–
BNP Paribas SA		1,081		(1,081	)		– 0	–		– 0	–		– 0	–
Brown Brothers Harriman & Co.		197,708		(62,034	)		– 0	–		– 0	–		135,674
Citibank NA		785,271		(426,657	)		(150,000	)		– 0	–		208,614
Deutsche Bank AG		831,938		(46,917	)		– 0	–		– 0	–		785,021
HSBC Bank USA		258,392		– 0	–		– 0	–		– 0	–		258,392



20 AB Sustainable International Thematic Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)


Counterparty	Derivative Assets Subject to a MA		Derivatives Available for Offset			Cash Collateral Received*			Security Collateral Received*			Net Amount of Derivative Assets
JPMorgan Chase Bank NA	$	285,855	$	(278,396	)	$	– 0	–	$	– 0	–	$	7,459
Morgan Stanley Capital Services LLC		95,779		(95,779	)		– 0	–		– 0	–		– 0	–
Standard Chartered Bank		23,218		(23,218	)		– 0	–		– 0	–		– 0	–
UBS AG		111,957		(111,957	)		– 0	–		– 0	–		– 0	–

Total	$	6,032,386	$	(2,385,333	)	$	(670,000	)	$	– 0	–	$	2,977,053	^

*	The actual collateral received/pledged may be more than the amount reported due to overcollateralization.

^	Net amount represents the net receivable (payable) that would be due from/to the counterparty in the event of default or termination. The net amount from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same counterparty.

2. Currency Transactions

The Fund may invest in non-U.S. Dollar-denominated securities on a currency hedged or unhedged basis. The Fund may seek investment opportunities by taking long or short positions in currencies through the use of currency-related derivatives, including forward currency exchange contracts, futures and options on futures, swaps, and other options. The Fund may enter into transactions for investment opportunities when it anticipates that a foreign currency will appreciate or depreciate in value but securities denominated in that currency are not held by the Fund and do not present attractive investment opportunities. Such transactions may also be used when the Adviser believes that it may be more efficient than a direct investment in a foreign currency-denominated security. The Fund may also conduct currency exchange contracts on a spot basis (i.e., for cash at the spot rate prevailing in the currency exchange market for buying or selling currencies).

NOTE E

Capital Stock

Each class consists of 3,000,000,000 authorized shares. Transactions in capital shares for each class were as follows:


	Shares						Amount
	Six Months Ended December 31, 2025 (unaudited)			Year Ended June 30, 2025			Six Months Ended December 31, 2025 (unaudited)			Year Ended June 30, 2025

Class A
Shares sold		62,594			142,413		$	1,324,293		$	2,788,094

Shares converted from Class C		4,612			9,185			97,828			179,488

Shares redeemed		(382,525	)		(917,393	)		(8,102,160	)		(18,166,253	)

Net decrease		(315,319	)		(765,795	)	$	(6,680,039	)	$	(15,198,671	)



ABFunds.com		AB Sustainable International Thematic Fund 21

NOTES TO FINANCIAL STATEMENTS (continued)


	Shares						Amount
	Six Months Ended December 31, 2025 (unaudited)			Year Ended June 30, 2025			Six Months Ended December 31, 2025 (unaudited)			Year Ended June 30, 2025

Class C^(a)
Shares sold		2,043			1,180		$	44,499		$	24,524

Shares converted to Class A		(4,430	)		(8,764	)		(97,828	)		(179,488	)

Shares redeemed		(3,248	)		(8,325	)		(71,668	)		(170,293	)

Net decrease		(5,635	)		(15,909	)	$	(124,997	)	$	(325,257	)


Advisor Class
Shares sold		1,903,345			5,490,295		$	42,147,659		$	112,767,931

Shares redeemed		(2,462,079	)		(10,641,182	)		(54,529,166	)		(219,395,915	)

Net decrease		(558,734	)		(5,150,887	)	$	(12,381,507	)		$ (106,627,984	)


Class I
Shares sold		1,558			3,589		$	34,429		$	73,284

Shares redeemed		(1,229	)		(11,644	)		(27,157	)		(240,217	)

Net increase (decrease)		329			(8,055	)	$	7,272		$	(166,933	)


Class Z
Shares sold		73,098			205,417		$	1,569,825		$	4,093,928

Shares redeemed		(133,932	)		(352,586	)		(2,870,142	)		(7,241,668	)

Net decrease		(60,834	)		(147,169	)	$	(1,300,317	)	$	(3,147,740	)

(a)	Effective October 20, 2025, Class C share transactions have been adjusted to reflect a 1 for 1.2908 reverse share split.

NOTE F

Risks Involved in Investing in the Fund

Market Risk—The value of the Fund’s assets will fluctuate as the market or markets in which the Fund invests fluctuate. The value of the Fund’s investments may decline, sometimes rapidly and unpredictably, simply because of economic changes or other events, including public health crises (including the occurrence of a contagious disease or illness), terrorism, war, changing interest rate levels, the imposition of new or additional tariffs, and regional and global conflicts, that affect large portions of the market. It includes the risk that a particular style of investing may be underperforming the market generally.

Focused Portfolio Risk—Investments in a limited number of companies may have more risk because changes in the value of a single security may have a more significant effect, either negative or positive, on the Fund’s net asset value, or NAV.

Sector Risk—The Fund may have more risk because it may invest to a significant extent in one or more particular market sectors, such as the information technology or financials sector. To the extent it does so, market or economic factors affecting the relevant sector(s) could have a major effect on the value of the Fund’s investments.



22 AB Sustainable International Thematic Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

ESG Risk—Applying ESG and sustainability criteria to the investment process may exclude securities of certain issuers for non-investment reasons and, therefore, the Fund may forgo some market opportunities available to funds that do not use ESG or sustainability criteria. Securities of companies with ESG practices may shift into and out of favor depending on market and economic conditions, and the Fund’s performance may at times be better or worse than the performance of funds that do not use ESG or sustainability criteria. Furthermore, ESG and sustainability criteria are not uniformly defined, and the Fund’s ESG and sustainability criteria may differ from those used by other funds. In addition, in evaluating an investment, the Adviser is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could adversely affect the analysis of the ESG and sustainability factors relevant to a particular investment.

Foreign (Non-U.S.) Risk—Investments in securities of non-U.S. issuers may involve more risk than those of U.S. issuers. These securities may fluctuate more widely in price and may be more difficult to trade due to adverse market, economic, political, regulatory or other factors.

Emerging Market Risk—Investments in emerging market countries may have more risk than investments in other foreign countries because the markets are less developed, less liquid and are subject to increased potential for market manipulation and increased economic, political, regulatory or other uncertainties.

Currency Risk—Fluctuations in currency exchange rates may negatively affect the value of the Fund’s investments or reduce its returns.

Capitalization Risk—Investments in small- and mid-capitalization companies may be more volatile than investments in large- capitalization companies. Investments in small-capitalization companies may have additional risks because these companies have limited product lines, markets or financial resources.

Derivatives Risk—Derivatives may be difficult to price or unwind and leveraged so that small changes may produce disproportionate losses for the Fund. A short position in a derivative instrument involves the risk of a theoretically unlimited increase in the value of the underlying asset, reference rate or index, which could cause the Fund to suffer a potentially unlimited loss. Derivatives, especially over-the-counter derivatives, are also subject to counterparty risk, which is the risk that the counterparty (the party on the other side of the transaction) on a derivative transaction will be unable or unwilling to honor its contractual obligations to the Fund.

Indemnification Risk—In the ordinary course of business, the Fund enters into contracts that contain a variety of indemnifications. The Fund’s maximum exposure under these arrangements is unknown. However, the Fund has not



ABFunds.com		AB Sustainable International Thematic Fund 23

NOTES TO FINANCIAL STATEMENTS (continued)

had prior claims or losses pursuant to these indemnification provisions and expects the risk of loss thereunder to be remote. Therefore, the Fund has not accrued any liability in connection with these indemnification provisions.

Management Risk—The Fund is subject to management risk because it is an actively-managed investment fund. The Adviser will apply its investment techniques and risk analyses in making investment decisions for the Fund, but there is no guarantee that its techniques will produce the intended results. Some of these techniques may incorporate, or rely upon, quantitative models, but there is no guarantee that these models will generate accurate forecasts, reduce risk or otherwise perform as expected.

NOTE G

Joint Credit Facility

A number of open-end mutual funds managed by the Adviser, including the Fund, participate in a $325 million revolving credit facility (the “Facility”) intended to provide short-term financing related to redemptions and other short-term liquidity requirements, which will expire on June 23, 2026. A commitment fee of 0.15% per annum related to the Facility is paid by the participating funds and is included in miscellaneous expenses in the statement of operations. The Fund did not utilize the Facility during the six months ended December 31, 2025.

NOTE H

Distributions to Shareholders

The tax character of distributions paid for the year ending June 30, 2026 will be determined at the end of the current fiscal year. The tax character of distributions paid during the fiscal years ended June 30, 2025 and June 30, 2024 were as follows:


	2025			2024
Distributions paid from:
Long-term capital gains	$	– 0	–	$	– 0	–

Total taxable distributions paid	$	– 0	–	$	– 0	–

As of June 30, 2025, the components of accumulated earnings (deficit) on a tax basis were as follows:


Accumulated capital losses	$	(13,324,245	)^(a)
Other losses		(9,931,513	)^(b)
Unrealized appreciation (depreciation)		210,888,670	^(c)

Total accumulated earnings (deficit)	$	187,632,912

(a)	As of June 30, 2025, the Fund had a net capital loss carryforward of $13,324,245. During the fiscal year, the Fund utilized $27,447,413 of capital loss carry forwards to offset current year net realized gains.

(b)	As of June 30, 2025, the Fund had a qualified late-year ordinary loss deferral of $9,931,513.

(c)	The differences between book-basis and tax-basis unrealized appreciation (depreciation) are attributable primarily to the recognition for tax purposes of unrealized gains/losses on certain derivative instruments and the tax deferral of losses on wash sales.



24 AB Sustainable International Thematic Fund		ABFunds.com

NOTES TO FINANCIAL STATEMENTS (continued)

For tax purposes, net realized capital losses may be carried over to offset future capital gains, if any. Funds are permitted to carry forward capital losses for an indefinite period, and such losses will retain their character as either short-term or long-term capital losses. As of June 30, 2025, the Fund had a net short-term capital loss carryforward of $5,992,177 and a net long-term capital loss carryforward of $7,332,068, which may be carried forward for an indefinite period.

NOTE I

Subsequent Events

Management has evaluated subsequent events for possible recognition or disclosure in the financial statements through the date the financial statements are issued. Management has determined that there are no material events that would require disclosure in the Fund’s financial statements through this date.



ABFunds.com		AB Sustainable International Thematic Fund 25

FINANCIAL HIGHLIGHTS

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period


	Class A
	Six Months Ended December 31, 2025 (unaudited)			Year Ended June 30,
	Six Months Ended December 31, 2025 (unaudited)			2025			2024			2023			2022			2021



Net asset value, beginning of period		$ 21.39			$ 19.16			$ 18.33			$ 16.46			$ 23.53			$ 17.76

Income From Investment Operations

Net investment income (loss)^(a)(b)		.01			.13	*		.13			.10			.09			(.03	)

Net realized and unrealized gain (loss) on investment and foreign currency transactions		.02			2.10			.70			1.86			(5.79	)		6.18

Net increase (decrease) in net asset value from operations		.03			2.23			.83			1.96			(5.70	)		6.15

Less: Distributions

Distributions from net realized gain on investment and foreign currency transactions		– 0	–		– 0	–		– 0	–		(.09	)		(1.37	)		(.38	)

Net asset value, end of period		$ 21.42			$ 21.39			$ 19.16			$ 18.33			$ 16.46			$ 23.53


Total Return

Total investment return based on net asset value^(c)**		.14	%		11.64	%*		4.53	%		11.92	%		(25.82	)%		34.79	%

Ratios/Supplemental Data

Net assets, end of period (000’s omitted)		$125,283			$131,852			$132,780			$142,303			$148,069			$215,976

Ratio to average net assets of:

Expenses, net of waivers/ reimbursements^(d)^†		1.02	%^(f)		1.03	%		1.03	%		1.05	%		1.03	%		1.19	%

Expenses, before waivers/ reimbursements^(d)^†		1.03	%^(f)		1.03	%		1.04	%		1.05	%		1.03	%		1.19	%

Net investment income (loss)^(b)		.05	%^(f)		.68	%*		.70	%		.60	%		.40	%		(.14	)%

Portfolio turnover rate		37	%		48	%		36	%		31	%		28	%		33	%


^† Expense ratios exclude the estimated acquired fund fees of affiliated/unaffiliated underlying
portfolios		.01	%^(f)		.01	%		.01	%		.01	%		.00	%		.01	%

See footnote summary on page 31.



26 AB Sustainable International Thematic Fund		ABFunds.com

FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period


	Class C^(g)
	Six Months Ended December 31, 2025 (unaudited)			Year Ended June 30,
	Six Months Ended December 31, 2025 (unaudited)			2025			2024			2023			2022			2021



Net asset value, beginning of period		$ 22.32			$ 20.15			$ 19.43			$ 17.59			$ 25.64			$ 19.56

Income From Investment Operations

Net investment loss^(a)(b)		(.08	)		(.04	)*		(.01	)		(.04	)		(.12	)		(.22	)

Net realized and unrealized gain (loss) on investment and foreign currency transactions		.03			2.21			.73			1.99			(6.16	)		6.79

Net increase (decrease) in net asset value from operations		(.05	)		2.17			.72			1.95			(6.28	)		6.57

Less: Distributions

Distributions from net realized gain on investment and foreign currency transactions		– 0	–		– 0	–		– 0	–		(.11	)		(1.77	)		(.49	)

Net asset value, end of period		$ 22.27			$ 22.32			$ 20.15			$ 19.43			$ 17.59			$ 25.64


Total Return

Total investment return based on net asset value^(c)**		(.21	)%		10.76	%*		3.72	%		11.10	%		(26.39	)%		33.77	%

Ratios/Supplemental Data

Net assets, end of period (000’s omitted)		$386			$513			$783			$863			$1,115			$1,793

Ratio to average net assets of:

Expenses, net of waivers/ reimbursements^(d)†		1.79	%^(f)		1.79	%		1.79	%		1.81	%		1.79	%		1.94	%

Expenses, before waivers/ reimbursements^(d)†		1.79	%^(f)		1.79	%		1.80	%		1.82	%		1.79	%		1.95	%

Net investment loss^(b)		(.72	)%^(f)		(.21	)%*		(.07	)%		(.23	)%		(.38	)%		(.93	)%

Portfolio turnover rate		37	%		48	%		36	%		31	%		28	%		33	%


^† Expense ratios exclude the estimated acquired fund fees of affiliated/unaffiliated underlying
portfolios		.01	%^(f)		.01	%		.01	%		.01	%		.00	%		.01	%

See footnote summary on page 31.



ABFunds.com		AB Sustainable International Thematic Fund 27

FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period


	Advisor Class
	Six Months Ended December 31, 2025 (unaudited)			Year Ended June 30,
	Six Months Ended December 31, 2025 (unaudited)			2025			2024			2023			2022			2021


Net asset value, beginning of period		$ 22.34			$ 19.96			$ 19.05			$ 17.06			$ 24.28			$ 18.27

Income From Investment Operations

Net investment income^(a)(b)		.03			.19	*		.20			.16			.16			.05

Net realized and unrealized gain (loss) on investment and foreign currency transactions		.02			2.19			.71			1.92			(6.01	)		6.34

Net increase (decrease) in net asset value from operations		.05			2.38			.91			2.08			(5.85	)		6.39

Less: Distributions

Distributions from net realized gain on investment and foreign currency transactions		– 0	–		– 0	–		– 0	–		(.09	)		(1.37	)		(.38	)

Net asset value, end of period		$ 22.39			$ 22.34			$ 19.96			$ 19.05			$ 17.06			$ 24.28


Total Return

Total investment return based on net asset value^(c)**		.27	%		11.92	%*		4.78	%		12.21	%		(25.64	)%		35.13	%

Ratios/Supplemental Data

Net assets, end of period (000’s omitted)		$763,539			$773,998			$794,393			$630,120			$534,213			$567,611

Ratio to average net assets of:

Expenses, net of waivers/ reimbursements^(d)†		.77	%^(f)		.78	%		.78	%		.80	%		.78	%		.94	%

Expenses, before waivers/ reimbursements^(d)†		.78	%^(f)		.78	%		.79	%		.80	%		.79	%		.94	%

Net investment income^(b)		.30	%^(f)		.91	%*		1.04	%		.90	%		.74	%		.24	%

Portfolio turnover rate		37	%		48	%		36	%		31	%		28	%		33	%


^† Expense ratios exclude the estimated acquired fund fees of affiliated/unaffiliated underlying
portfolios		.01	%^(f)		.01	%		.01	%		.01	%		.00	%		.01	%

See footnote summary on page 31.



28 AB Sustainable International Thematic Fund		ABFunds.com

FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period


	Class I
	Six Months Ended December 31, 2025 (unaudited)			Year Ended June 30,
	Six Months Ended December 31, 2025 (unaudited)			2025			2024			2023			2022			2021



Net asset value, beginning of period		$ 22.17			$ 19.83			$ 18.94			$ 16.96			$ 24.17			$ 18.19

Income From Investment Operations

Net investment income (loss)^(a)(b)		.03			.18			.17			.17			.12			(.01	)

Net realized and unrealized gain (loss) on investment and foreign currency transactions		.02			2.16			.72			1.90			(5.96	)		6.37

Net increase (decrease) in net asset value from operations		.05			2.34			.89			2.07			(5.84	)		6.36

Less: Distributions

Distributions from net realized gain on investment and foreign currency transactions		– 0	–		– 0	–		– 0	–		(.09	)		(1.37	)		(.38	)

Net asset value, end of period		$ 22.22			$ 22.17			$ 19.83			$ 18.94			$ 16.96			$ 24.17


Total Return

Total investment return based on net asset value^(c)**		.23	%		11.80	%		4.70	%		12.22	%		(25.71	)%		35.12	%

Ratios/Supplemental Data

Net assets, end of period (000’s omitted)		$901			$892			$957			$913			$565			$986

Ratio to average net assets of:

Expenses, net of waivers/ reimbursements^(d)^†		.84	%^(f)		.84	%		.85	%		.83	%		.84	%		.98	%

Expenses, before waivers/ reimbursements^(d)^†		.85	%^(f)		.84	%		.85	%		.84	%		.84	%		.99	%

Net investment income (loss)^(b)		.24	%^(f)		.88	%		.90	%		.98	%		.55	%		(.03	)%

Portfolio turnover rate		37	%		48	%		36	%		31	%		28	%		33	%


^† Expense ratios exclude the estimated acquired fund fees of affiliated/unaffiliated underlying
portfolios		.01	%^(f)		.01	%		.01	%		.01	%		.00	%		.01	%

See footnote summary on page 31.



ABFunds.com		AB Sustainable International Thematic Fund 29

FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period


	Class Z
	Six Months Ended December 31, 2025 (unaudited)			Year Ended June 30,									July 27, 2021^(e)to June 30, 2022
	Six Months Ended December 31, 2025 (unaudited)			2025			2024			2023			July 27, 2021^(e)to June 30, 2022


Net asset value, beginning of period		$ 21.62			$ 19.32			$ 18.43			$ 16.50			$ 23.66

Income From Investment Operations

Net investment income^(a)(b)		.03			.19			.18			.16			.30

Net realized and unrealized gain (loss) on investment and foreign currency transactions		.03			2.11			.71			1.86			(6.09	)

Net increase (decrease) in net asset value from operations		.06			2.30			.89			2.02			(5.79	)

Less: Distributions

Distributions from net realized gain on investment and foreign currency transactions		– 0	–		– 0	–		– 0	–		(.09	)		(1.37	)

Net asset value, end of period		$ 21.68			$ 21.62			$ 19.32			$ 18.43			$ 16.50


Total Return
Total investment return based on net asset value^(c)**		.28	%		11.91	%		4.83	%		12.26	%		(26.06	)%

Ratios/Supplemental Data

Net assets, end of period (000’s omitted)		$11,875			$13,158			$14,600			$14,894			$12,747

Ratio to average net assets of:

Expenses, net of waivers/ reimbursements^(d)†		.75	%^(f)		.76	%		.76	%		.77	%		.77	%^(f)

Expenses, before waivers/ reimbursements^(d)†		.76	%^(f)		.77	%		.76	%		.77	%		.78	%^(f)

Net investment income^(b)		.32	%^(f)		.97	%		1.00	%		.91	%		1.71	%^(f)

Portfolio turnover rate		37	%		48	%		36	%		31	%		28	%


^† Expense ratios exclude the estimated acquired fund fees of affiliated/unaffiliated underlying
portfolios		.01	%^(f)		.01	%		.01	%		.01	%		.00	%^(f)

See footnote summary on page 31.



30 AB Sustainable International Thematic Fund		ABFunds.com

FINANCIAL HIGHLIGHTS (continued)

Selected Data For A Share Of Capital Stock Outstanding Throughout Each Period

(a)	Based on average shares outstanding.

(b)	Net of expenses waived/reimbursed by the Adviser.

(c)

Total investment return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period, and redemption on the last day of the period. Initial sales charges or contingent deferred sales charges are not reflected in the calculation of total investment return. Total investment return does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Total investment return calculated for a period of less than one year is not annualized.

(d)

In connection with the Fund’s investments in affiliated underlying portfolios, the Fund incurs no direct expenses but bears proportionate shares of the acquired fund fees and expenses (i.e. operating, administrative and investment advisory fees) of the affiliated underlying portfolios. The Adviser has contractually agreed to waive its fees from the Fund in an amount equal to the Fund’s pro rata share of certain acquired fund fees and expenses, and for the six months ended December 31, 2025 and the years ended June 30, 2025, June 30, 2024, June 30, 2023 and June 30, 2021 such waiver amounted to .01% (annualized), .01%, .01%, .01% and .01%, respectively.

(e)	Commencement of distribution.

(f)	Annualized.

(g)	Per share amounts have been adjusted to reflect the 1 for 1.2908 reverse share split effective October 20, 2025.

(h)	Amount is less than $.005.

(i)	Less than .005%.

*	During the year ended June 30, 2025, the Adviser reimbursed the Fund for overpayment of prior years’ omnibus account services, sub-accounting services and related transfer agency expenses. The impact of the reimbursement to the financial highlights is as follows:


	Net Investment Income Per Share			Net Investment Income Ratio			Total Return

Class A	$	.00	^(h)		.02	%		.00	%⁽ⁱ⁾

Class C	$	.00	^(h)		.01	%		.00	%⁽ⁱ⁾

Advisor Class	$	.00	^(h)		.02	%		.00	%⁽ⁱ⁾

** Includes the impact of proceeds received and credited to the Fund resulting from class action settlements, which enhanced the performance of each share class for the six months ended December 31, 2025 by .02%.

See notes to financial statements.



ABFunds.com		AB Sustainable International Thematic Fund 31

Information Regarding the Review and Approval of the Fund’s Advisory Agreement

The disinterested directors (the “directors”) of AB Sustainable International Thematic Fund, Inc. (the “Fund”) unanimously approved the continuance of the Fund’s Advisory Agreement with the Adviser at a meeting held in-person on May 6-8, 2025 (the “Meeting”).

Prior to approval of the continuance of the Advisory Agreement, the directors had requested from the Adviser, and received and evaluated, extensive materials. They reviewed the proposed continuance of the Advisory Agreement with the Adviser and with experienced counsel who are independent of the Adviser, who advised on the relevant legal standards. The directors also reviewed additional materials, including comparative analytical data prepared by the Senior Vice President of the Fund. The directors also discussed the proposed continuance in private sessions with counsel.

The directors considered their knowledge of the nature and quality of the services provided by the Adviser to the Fund gained from their experience as directors or trustees of most of the registered investment companies advised by the Adviser, their overall confidence in the Adviser’s integrity and competence they have gained from that experience, the Adviser’s initiative in identifying and raising potential issues with the directors and its responsiveness, frankness and attention to concerns raised by the directors in the past, including the Adviser’s willingness to consider and implement organizational and operational changes designed to improve investment results and the services provided to the AB Funds. The directors noted that they have four regular meetings each year, at each of which they review extensive materials and information from the Adviser, including information on the investment performance of the Fund and the money market fund advised by the Adviser in which the Fund invests a portion of its assets.

The directors also considered all factors they believed relevant, including the specific matters discussed below. During the course of their deliberations, the directors evaluated, among other things, the reasonableness of the advisory fee. The directors did not identify any particular information that was all-important or controlling, and different directors may have attributed different weights to the various factors. The directors determined that the selection of the Adviser to manage the Fund and the overall arrangements between the Fund and the Adviser, as provided in the Advisory Agreement, including the advisory fee, were fair and reasonable in light of the services performed, expenses incurred and such other matters as the directors considered relevant in the exercise of their business judgment. The material factors and conclusions that formed the basis for the directors’ determinations included the following:

Nature, Extent and Quality of Services Provided

The directors considered the scope and quality of services provided by the Adviser under the Advisory Agreement, including the quality of the investment



32 AB Sustainable International Thematic Fund		ABFunds.com

research capabilities of the Adviser and the other resources it has dedicated to performing services for the Fund. The directors noted that the Adviser from time to time reviews the Fund’s investment strategies and from time to time proposes changes intended to improve the Fund’s relative or absolute performance for the directors’ consideration. They also noted the professional experience and qualifications of the Fund’s portfolio management team and other senior personnel of the Adviser. The directors also considered that the Advisory Agreement provides that the Fund will reimburse the Adviser for the cost to it of providing certain clerical, accounting, administrative and other services to the Fund by employees of the Adviser or its affiliates. Requests for these reimbursements are made on a quarterly basis and subject to approval by the directors. Reimbursements, to the extent requested and paid, result in a higher rate of total compensation from the Fund to the Adviser than the fee rate stated in the Advisory Agreement. The directors noted that the methodology used to determine the reimbursement amounts had been reviewed by an independent consultant at the request of the directors. The quality of administrative and other services, including the Adviser’s role in coordinating the activities of the Fund’s other service providers, also was considered. The directors concluded that, overall, they were satisfied with the nature, extent and quality of services provided to the Fund under the Advisory Agreement.

Costs of Services Provided and Profitability

The directors reviewed a schedule of the revenues and expenses and related notes indicating the profitability of the Fund to the Adviser for calendar years 2023 and 2024 that had been prepared with an expense allocation methodology arrived at in consultation with an independent consultant at the request of the directors. The directors noted the assumptions and methods of allocation used by the Adviser in preparing fund-specific profitability data and understood that there are a number of potentially acceptable allocation methodologies for information of this type. The directors noted that the profitability information reflected all revenues and expenses of the Adviser’s relationship with the Fund, including those relating to its subsidiaries that provide transfer agency, distribution and brokerage services to the Fund. The directors recognized that it is difficult to make comparisons of the profitability of the Advisory Agreement with the profitability of fund advisory contracts for unaffiliated funds because comparative information is not generally publicly available and is affected by numerous factors. The directors focused on the profitability of the Adviser’s relationship with the Fund before taxes and distribution expenses. The directors concluded that the Adviser’s level of profitability from its relationship with the Fund was not unreasonable.

Fall-Out Benefits

The directors considered the other benefits to the Adviser and its affiliates from their relationships with the Fund and the money market fund advised by the Adviser in which the Fund invests, including, but not limited to, benefits relating to soft dollar arrangements (whereby investment advisers receive brokerage and research services from brokers that execute agency transactions for their



ABFunds.com		AB Sustainable International Thematic Fund 33

clients); 12b-1 fees and sales charges received by the Fund’s principal underwriter (which is a wholly owned subsidiary of the Adviser) in respect of certain classes of the Fund’s shares; brokerage commissions paid by the Fund to brokers affiliated with the Adviser; and transfer agency fees paid by the Fund to a wholly owned subsidiary of the Adviser. The directors recognized that the Adviser’s profitability would be somewhat lower without these benefits. The directors understood that the Adviser also might derive reputational and other benefits from its association with the Fund.

Investment Results

In addition to the information reviewed by the directors in connection with the Meeting, the directors have received detailed performance information for the Fund at each regular Board meeting during the year.

At the Meeting, the directors reviewed performance information prepared by an independent service provider (the “15(c) service provider”), showing the performance of the Advisor Class shares of the Fund against a group of similar funds (“peer group”) and a larger group of similar funds (“peer universe”), each selected by the 15(c) service provider, and information prepared by the Adviser showing performance of the Advisor Class shares against a broad-based securities market index, in each case for the 1-, 3-, 5- and 10-year periods ended February 28, 2025 and (in the case of comparisons with the broad-based securities market index) for the period from inception. The directors discussed with the Adviser the reasons for the Fund’s underperformance in the periods reviewed and determined to continue to monitor the Fund’s performance closely.

Advisory Fees and Other Expenses

The directors considered the advisory fee rate payable by the Fund to the Adviser and information prepared by the 15(c) service provider concerning advisory fee rates payable by other funds in the same category as the Fund. The directors recognized that it is difficult to make comparisons of advisory fees because there are variations in the services that are included in the fees paid by other funds. The directors compared the Fund’s contractual effective advisory fee rate with a peer group median and noted that it was lower than the median. They also noted that the Adviser’s total rate of compensation, taking into account the administrative expense reimbursement paid to the Adviser in the latest fiscal year, was lower than the median.

The directors also considered the Adviser’s fee schedule for other clients utilizing investment strategies similar to those of the Fund. For this purpose, they reviewed the relevant advisory fee information from the Adviser’s Form ADV and in a report from the Fund’s Senior Vice President and noted the differences between the Fund’s fee schedule, on the one hand, and the Adviser’s institutional fee schedule, on the other. The directors noted that the Adviser may, in some cases, agree to fee rates with large institutional clients that are lower than those reviewed by the directors and that they had previously discussed with the Adviser its policies in respect of such arrangements. The Adviser reviewed with



34 AB Sustainable International Thematic Fund		ABFunds.com

the directors the significantly greater scope of the services it provides to the Fund relative to institutional clients. In this regard, the Adviser noted, among other things, that, compared to institutional accounts, the Fund (i) demands considerably more portfolio management, research and trading resources due to significantly higher daily cash flows; (ii) has more tax and regulatory restrictions and compliance obligations; (iii) must prepare and file or distribute regulatory and other communications about fund operations; and (iv) must provide shareholder servicing to retail investors. The Adviser also reviewed the greater legal risks presented by the large and changing population of Fund shareholders who may assert claims against the Adviser in individual or class actions, and the greater entrepreneurial risk in offering new fund products, which require substantial investment to launch, may not succeed, and generally must be priced to compete with larger, more established funds resulting in lack of profitability to the Adviser until a new fund achieves scale. In light of the substantial differences in services rendered by the Adviser to institutional clients as compared to the Fund, and the different risk profile, the directors considered these fee comparisons inapt and did not place significant weight on them in their deliberations.

In connection with their review of the Fund’s advisory fee, the directors also considered the total expense ratio of the Advisor Class shares of the Fund in comparison to the medians for a peer group and a peer universe selected by the 15(c) service provider. The Advisor Class expense ratio of the Fund was based on the Fund’s latest fiscal year. The Adviser had agreed to cap the Fund’s expenses, but the directors noted that the Fund’s expense ratio was currently below the level of the Adviser’s cap. The directors noted that it was likely that the expense ratios of some of the other funds in the Fund’s category were lowered by waivers or reimbursements by those funds’ investment advisers, which in some cases might be voluntary or temporary. The directors view expense ratio information as relevant to their evaluation of the Adviser’s services because the Adviser is responsible for coordinating services provided to the Fund by others. The directors noted that the Fund’s expense ratio was lower than the medians. Based on their review, the directors concluded that the Fund’s expense ratio was acceptable.

Economies of Scale

The directors noted that the advisory fee schedule for the Fund contains breakpoints that reduce the fee rates on assets above specified levels. The directors took into consideration prior presentations by an independent consultant on economies of scale in the mutual fund industry and for the AB Funds, and presentations from time to time by the Adviser concerning certain of its views on economies of scale. The directors also had requested and received from the Adviser certain updates on economies of scale in advance of the Meeting. The directors believe that economies of scale may be realized (if at all) by the Adviser across a variety of products and services, and not only in respect of a single fund. The directors noted that there is no established methodology for setting breakpoints that give effect to the fund-specific services provided by a fund’s



ABFunds.com		AB Sustainable International Thematic Fund 35

adviser and to the economies of scale that an adviser may realize in its overall mutual fund business or those components of it which directly or indirectly affect a fund’s operations. The directors observed that in the mutual fund industry as a whole, as well as among funds similar to the Fund, there is no uniformity or pattern in the fees and asset levels at which breakpoints (if any) apply. The directors also noted that the advisory agreements for many funds do not have breakpoints at all. Having taken these factors into account, the directors concluded that the Fund’s shareholders would benefit from a sharing of economies of scale in the event the Fund’s net assets exceed a breakpoint in the future.



36 AB Sustainable International Thematic Fund		ABFunds.com

LOGO

AB SUSTAINABLE INTERNATIONAL THEMATIC FUND

66 Hudson Boulevard East

New York, NY 10001

800 221 5672

SIT-0152-1225 LOGO

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

There were no disagreements with accountants during the reporting period.

ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES

There were no shareholder meetings during the reporting period.

ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Aggregate remuneration paid to all Directors and advisory board members are included within the Financial Statements under Item 7 of this Form N-CSR.

ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

Statement regarding basis for Approval of Investment Advisory Contract included within the Financial Statements under Item 7 of this Form N-CSR.

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to the registrant.

ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES

Not applicable to the registrant.

ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable to the registrant

ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

There have been no material changes to the procedures by which shareholders may recommend nominees to the Fund’s Board of Directors since the Fund last provided disclosure in response to this item.

ITEM 16. CONTROLS AND PROCEDURES.

(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940, as amended) are effective at the reasonable assurance level based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.

(b) There were no changes in the registrant’s internal controls over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable to the registrant

ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

Not applicable to the registrant

ITEM 19. EXHIBITS.

The following exhibits are attached to this Form N-CSR:


EXHIBIT NO.		DESCRIPTION OF EXHIBIT

19(b)(1)		Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

19(b)(2)		Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

19(c)		Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Section 906 of the Sarbanes —Oxley Act of 2002

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


(Registrant): AB Sustainable International Thematic Fund, Inc.

By:		/s/ Onur Erzan
		Onur Erzan
		President

Date:		February 26, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.


By:		/s/ Onur Erzan
		Onur Erzan
		President

Date:		February 26, 2026

By:		/s/ Stephen M. Woetzel
		Stephen M. Woetzel
		Treasurer and Chief Financial Officer

Date:		February 26, 2026

ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

CERTIFICATIONS PURSUANT TO SECTION 302

CERTIFICATIONS PURSUANT TO SECTION 906

XBRL TAXONOMY EXTENSION SCHEMA

IDEA: R1.htm

IDEA: R2.htm

IDEA: R3.htm

IDEA: FilingSummary.xml

IDEA: MetaLinks.json

IDEA: d67417dncsrs_htm.xml