Box 2380 - Stn Central RPO

In the United Kingdom, info is issued by PGIM Limited with authorized workplace: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N5HR. PGIM Limited is authorised and controlled by the Financial Conduct Authority ("FCA") of the UK (Firm Reference Number 193418). In the European Economic Area ("EEA"), details is released by PGIM Netherlands B.V. with authorized 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 running on the basis of a European passport. In certain EEA nations, info is, where allowed, presented by PGIM Limited in reliance of arrangements, exemptions or licenses readily available to PGIM Limited under momentary authorization arrangements following the exit of the United Kingdom from the European Union. These materials are provided by PGIM Limited and/or PGIM Netherlands B.V. to individuals who are professional customers as specified under the guidelines of the FCA and/or to persons who are professional customers as defined in the relevant regional implementation of Directive 2014/65/EU (MiFID II). In Italy, info is provided by PGIM Limited authorized to run in Italy by Commissione Nazionale per le Società e la Borsa (CONSOB). In Japan, details 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 numerous investment management services in Japan. PGIMREJ is a Japanese property possession manager that is signed up with the Kanto Local Finance Bureau of Japan. In Hong Kong, information is supplied by PGIM (Hong Kong) Limited, a managed entity with the Securities & & Futures Commission in Hong Kong to professional investors as specified in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, info is released by PGIM (Singapore) Pte. Ltd. ("PGIM Singapore"), a controlled entity with the Monetary Authority of Singapore under a Capital Markets Services License to conduct fund management and an exempt monetary advisor. This product is issued by PGIM Singapore for the basic details of "institutional investors" pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the "SFA") and "certified investors" and other relevant persons in accordance with the conditions defined in Section 305 of the SFA. In South Korea, details is issued by PGIM, Inc., which is licensed to supply discretionary financial investment management services straight to South Korean certified institutional financiers on a cross-border basis. In Australia, details is issued by PGIM (Australia) Pty Ltd ("PGIM Australia") for the general info 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 details 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 must fit the requirements as set out in the Financial Markets Conduct Act 2013. In China, the information is supplied at your request and is not planned as investment suggestions or a recommendation about handling or investing assets.

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 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 implementing legal rights versus PGIM, Inc. since it is resident outside of Canada and all or considerably all of its properties might be located beyond Canada; and (4) the name and address of the representative 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 way with Prudential plc, integrated in the UK or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.

These materials are for informational or academic purposes just.

All investments include dangers, including possible loss of principal. Past efficiency is not a sign of future results.

The information contained herein is supplied by PGIM, the principal possession management organization of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its international subsidiaries. PGIM, Inc. is a financial investment adviser signed up with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not suggest a certain level of ability or training.

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"), details is provided by PGIM Netherlands B.V. with authorized 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 specific EEA countries, details is, where permitted, provided by PGIM Limited in dependence of provisions, exemptions or licenses readily available to PGIM Limited under temporary authorization plans following the exit of the United Kingdom from the European Union. These materials are provided by PGIM Limited and/or PGIM Netherlands B.V. to individuals who are expert customers as specified under the guidelines of the FCA and/or to individuals who are expert clients as defined in the relevant local implementation 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, details is supplied 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 uses numerous financial investment management services in Japan. PGIMREJ is a Japanese genuine estate possession supervisor that is registered with the Kanto Local Finance Bureau of Japan. In Hong Kong, info is supplied by PGIM (Hong Kong) Limited, a regulated entity with the Securities & Futures Commission in Hong Kong to expert investors as specified 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 regulated entity with the Monetary Authority of Singapore under a Capital Markets Services License to perform fund management and an exempt financial consultant. This product is provided by PGIM Singapore for the basic information of "institutional financiers" pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the "SFA") and "accredited financiers" and other relevant individuals in accordance with the conditions specified in Section 305 of the SFA. In South Korea, information is released by PGIM, Inc., which is certified to supply discretionary investment management services directly to South Korean certified institutional financiers on a cross-border basis. In Australia, details is provided by PGIM (Australia) Pty Ltd ("PGIM Australia") for the basic information of its wholesale customers (as defined in the Corporations Act 2001). PGIM Australia is an Australian monetary services ("AFS") licence holder (AFS licence number 544946). The details is supplied 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 financier in New Zealand, financiers should fit the requirements as set out in the Financial Markets Conduct Act 2013. In China, the details is supplied at your request and is not intended as investment suggestions or a recommendation about handling or investing possessions.

In Canada, pursuant to the worldwide adviser registration exemption in National Instrument 31-103, PGIM, Inc. is notifying you that: (1) PGIM, Inc. is not registered in Canada and is encouraging you in reliance upon an exemption from the adviser registration requirement under National Instrument 31-103; (2) PGIM, Inc.'s jurisdiction of house is New Jersey, U.S.A.; (3) there might be difficulty imposing legal rights against PGIM, Inc. due to the fact that it is resident beyond Canada and all or considerably all of its possessions may be located beyond 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.

This info is not intended as investment recommendations and is not a recommendation about managing or investing properties or a deal or solicitation in regard of any products or services to anyones who are forbidden from getting such info under the laws relevant to their location of citizenship, residence or house. In providing these materials, PGIM is not serving as your fiduciary. These products represent the views, opinions and recommendations of the author(s) regarding the financial conditions, property classes, securities, issuers or financial instruments referenced herein. Certain information has actually been obtained from sources that PGIM thinks to be trusted since the date presented; nevertheless, PGIM can not ensure the precision of such information, guarantee its efficiency, or warrant such info will not be changed. This information, including forecasts and forecasts, is current as of the date of issuance (or an earlier referenced date) and is subject to change without notice. PGIM has no responsibility to upgrade such info; nor do we make any express or implied service warranties or representations regarding the efficiency or accuracy or accept obligation for mistakes. PGIM and its affiliates may develop and publish research that is independent of, and different than, the recommendations consisted of herein. References to particular securities are for illustrative purposes just and are not meant and ought to not be interpreted as recommendations to purchase, hold, or offer such securities.