Box 2380 - Stn Central RPO

In the United Kingdom, information is provided by PGIM Limited with authorized office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N5HR. PGIM Limited is authorised and managed by the Financial Conduct Authority ("FCA") of the United Kingdom (Firm Reference Number 193418). In the European Economic Area ("EEA"), info is issued by PGIM Netherlands B.V. with registered office: Eduard van Beinumstraat 6 1077CZ, Amsterdam, The Netherlands. PGIM Netherlands B.V. is, authorised by the Autoriteit Financiële Markten ("AFM") in the Netherlands (Registration number 15003620) and running on the basis of a European passport. In particular EEA countries, info is, where permitted, provided by PGIM Limited in reliance of arrangements, exemptions or licenses available to PGIM Limited under temporary authorization plans following the exit of the UK from the European Union. These materials are provided by PGIM Limited and/or PGIM Netherlands B.V. to individuals who are expert clients as defined under the guidelines of the FCA and/or to individuals who are expert customers as specified in the appropriate regional application of Directive 2014/65/EU (MiFID II). In Italy, info is offered by PGIM Limited authorized to run in Italy by Commissione Nazionale per le Società e la Borsa (CONSOB). In Japan, info is offered by PGIM Japan Co., Ltd. ("PGIM Japan") and/or PGIM Real Estate (Japan) Ltd. ("PGIMREJ"). PGIM Japan, a signed up Financial Instruments Business Operator with the Financial Services Agency of Japan provides different investment management services in Japan. PGIMREJ is a Japanese real estate possession manager that is signed up with the Kanto Local Finance Bureau of Japan. In Hong Kong, details is offered by PGIM (Hong Kong) Limited, a managed entity with the Securities & & Futures Commission in Hong Kong to expert investors as defined in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, information is released by PGIM (Singapore) Pte. Ltd. ("PGIM Singapore"), a regulated entity with the Monetary Authority of Singapore under a Capital Markets Services License to conduct fund management and an exempt financial advisor. This product is provided by PGIM Singapore for the general details of "institutional investors" pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the "SFA") and "recognized investors" and other pertinent individuals in accordance with the conditions defined in Section 305 of the SFA. In South Korea, information is provided by PGIM, Inc., which is licensed to offer discretionary investment management services straight to South Korean qualified institutional investors on a cross-border basis. In Australia, info is provided by PGIM (Australia) Pty Ltd ("PGIM Australia") for the basic information of its wholesale customers (as specified in the Corporations Act 2001). PGIM Australia is an Australian financial services ("AFS") licence holder (AFS licence number 544946). The information is provided to wholesale investors in accordance with Schedule 1, Clause 3 of the Financial Markets Conduct Act 2013 in New Zealand. To invest as a wholesale investor in New Zealand, financiers must fit the requirements as set out in the Financial Markets Conduct Act 2013. In China, the details is offered at your demand and is not intended as investment advice or a suggestion about handling or investing possessions.

In Canada, pursuant to the global adviser registration exemption in National Instrument 31-103, PGIM, Inc. is notifying you that: (1) PGIM, Inc. is not signed up in Canada and is encouraging you in dependence upon an exemption from the adviser registration requirement under National Instrument 31-103; (2) PGIM, Inc.'s jurisdiction of residence is New Jersey, U.S.A.; (3) there might be trouble implementing legal rights against PGIM, Inc. since it is resident outside of Canada and all or substantially all of its assets may be positioned outside of Canada; and (4) the name and address of the agent for service of procedure of PGIM, Inc. in the applicable Provinces of Canada are as follows: in Québec: Borden Ladner Gervais LLP, 1000 de La Gauchetière Street West, Suite 900 Montréal, QC H3B 5H4; in British Columbia: Borden Ladner Gervais LLP, 1200 Waterfront Centre, 200 Burrard Street, Vancouver, BC V7X 1T2; in Ontario: Borden Ladner Gervais LLP, 22 Adelaide Street West, Suite 3400, Toronto, ON M5H 4E3; in Nova Scotia: Cox & & Palmer, Q.C., 1100 Purdy's Wharf Tower One, 1959 Upper Water Street, P.O. Box 2380 - Stn Central RPO, Halifax, NS B3J 3E5; in Alberta: Borden Ladner Gervais LLP, 530 Third Avenue S.W., Calgary, AB T2P R3.

Prudential Financial, Inc. of the United States is not connected in any manner with Prudential plc, included in the UK or with Prudential Assurance Company, a subsidiary of M&G plc, included in the United Kingdom.

These products are for educational or academic functions just.

All investments involve dangers, consisting of possible loss of principal. Past efficiency is not indicative of future outcomes.

The info contained herein is offered by PGIM, the primary possession management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its worldwide subsidiaries. PGIM, Inc. is a financial investment consultant signed up with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not suggest a certain level of skill or training.

In the United Kingdom, information is issued by PGIM Limited with authorized workplace: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N5HR. PGIM Limited is authorised and managed by the Financial Conduct Authority ("FCA") of the United Kingdom (Firm Reference Number 193418). In the European Economic Area ("EEA"), details is provided by PGIM Netherlands B.V. with registered workplace: Eduard van Beinumstraat 6 1077CZ, Amsterdam, The Netherlands. PGIM Netherlands B.V. is, authorised by the Autoriteit Financiële Markten ("AFM") in the Netherlands (Registration number 15003620) and operating on the basis of a European passport. In certain EEA countries, info is, where allowed, provided by PGIM Limited in reliance of arrangements, exemptions or licenses offered to PGIM Limited under short-lived permission plans following the exit of the UK from the European Union. These materials are provided by PGIM Limited and/or PGIM Netherlands B.V. to individuals who are expert customers as defined under the guidelines of the FCA and/or to individuals who are professional clients as defined in the relevant regional application of Directive 2014/65/EU (MiFID II). In Italy, info is supplied by PGIM Limited licensed to run in Italy by Commissione Nazionale per le Società e la Borsa (CONSOB). In Japan, information is provided by PGIM Japan Co., Ltd. ("PGIM Japan") and/or PGIM Real Estate (Japan) Ltd. ("PGIMREJ"). PGIM Japan, a registered Financial Instruments Business Operator with the Financial Services Agency of Japan offers numerous investment management services in Japan. PGIMREJ is a Japanese property property supervisor that is registered with the Kanto Local Finance Bureau of Japan. In Hong Kong, information is provided by PGIM (Hong Kong) Limited, a managed entity with the Securities & Futures Commission in Hong Kong to professional financiers as defined in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, info is provided by PGIM (Singapore) Pte. Ltd. ("PGIM Singapore"), a managed entity with the Monetary Authority of Singapore under a Capital Markets Services License to conduct fund management and an exempt financial advisor. This material is released by PGIM Singapore for the basic information of "institutional investors" pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the "SFA") and "recognized financiers" and other appropriate persons in accordance with the conditions specified in Section 305 of the SFA. In South Korea, information is issued by PGIM, Inc., which is licensed to offer discretionary financial investment management services straight to South Korean qualified institutional financiers on a cross-border basis. In Australia, info is provided by PGIM (Australia) Pty Ltd ("PGIM Australia") for the general information of its wholesale clients (as defined in the Corporations Act 2001). PGIM Australia is an Australian monetary services ("AFS") licence holder (AFS licence number 544946). The information is provided to wholesale financiers in accordance with Schedule 1, Clause 3 of the Financial Markets Conduct Act 2013 in New Zealand. To invest as a wholesale financier in New Zealand, investors need to fit the requirements as set out in the Financial Markets Conduct Act 2013. In China, the info is offered at your demand and is not planned as financial investment suggestions or a recommendation about managing or investing assets.

In Canada, pursuant to the international adviser registration exemption in National Instrument 31-103, PGIM, Inc. is informing you that: (1) PGIM, Inc. is not registered in Canada and is advising you in reliance upon an exemption from the advisor registration requirement under National Instrument 31-103; (2) PGIM, Inc.'s jurisdiction of home is New Jersey, U.S.A.; (3) there may be trouble enforcing legal rights against PGIM, Inc. because it is resident outside of Canada and all or significantly all of its possessions might be located beyond Canada; and (4) the name and address of the representative for service of procedure of PGIM, Inc
. in the appropriate Provinces of Canada are as follows: in Québec: Borden Ladner Gervais LLP, 1000 de La Gauchetière Street West, Suite 900 Montréal, QC H3B 5H4; in British Columbia: Borden Ladner Gervais LLP, 1200 Waterfront Centre, 200 Burrard Street, Vancouver, BC V7X 1T2; in Ontario: Borden Ladner Gervais LLP, 22 Adelaide Street West, Suite 3400, Toronto, ON M5H 4E3; in Nova Scotia: Cox & Palmer, Q.C., 1100 Purdy's Wharf Tower One, 1959 Upper Water Street, P.O. Box 2380 - Stn Central RPO, Halifax, NS B3J 3E5; in Alberta: Borden Ladner Gervais LLP, 530 Third Avenue S.W., Calgary, AB T2P R3.

This info is not planned as financial investment suggestions and is not a suggestion about handling or investing properties or an offer or solicitation in respect of any services or products to any persons who are forbidden from getting such info under the laws applicable to their place of citizenship, domicile or residence. In supplying these materials, PGIM is not serving as your fiduciary. These materials represent the views, viewpoints and suggestions of the author(s) regarding the economic conditions, possession classes, securities, providers or monetary instruments referenced herein. Certain info has actually been obtained from sources that PGIM believes to be trusted as of the date provided; nevertheless, PGIM can not ensure the precision of such details, ensure its efficiency, or warrant such details will not be altered. This information, consisting of forecasts and forecasts, is present as of the date of issuance (or an earlier referenced date) and goes through change without notice. PGIM has no responsibility to upgrade such information; nor do we make any express or implied warranties or representations as to the efficiency or accuracy or accept responsibility for errors. PGIM and its affiliates may develop and release research that is independent of, and various than, the recommendations contained herein. References to particular securities are for illustrative functions just and are not intended and must not be analyzed as suggestions to purchase, hold, or sell such securities.