Box 2380 - Stn Central RPO

In the UK, info is provided by PGIM Limited with authorized office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority ("FCA") of the United Kingdom (Firm Reference Number 193418). In the European Economic Area ("EEA"), info is released 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 specific EEA countries, details is, where permitted, provided by PGIM Limited in reliance of arrangements, exemptions or licenses readily available to PGIM Limited under short-term approval plans following the exit of the UK from the European Union. These products are provided by PGIM Limited and/or PGIM Netherlands B.V. to persons who are expert clients as defined under the guidelines of the FCA and/or to persons who are expert customers as defined in the pertinent regional application of Directive 2014/65/EU (MiFID II). In Italy, details is provided by PGIM Limited authorized to operate in Italy by Commissione Nazionale per le Società e la Borsa (CONSOB). In Japan, information is offered 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 various financial investment management services in Japan. PGIMREJ is a Japanese realty possession manager that is registered with the Kanto Local Finance Bureau of Japan. In Hong Kong, info 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 perform fund management and an exempt monetary adviser. This material is issued by PGIM Singapore for the general details of "institutional financiers" pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the "SFA") and "certified investors" and other appropriate persons in accordance with the conditions defined in Section 305 of the SFA. In South Korea, details is provided by PGIM, Inc., which is licensed to provide discretionary investment management services directly to South Korean qualified institutional investors on a cross-border basis. In Australia, details is released by PGIM (Australia) Pty Ltd ("PGIM Australia") for the general details of its wholesale clients (as defined in the Corporations Act 2001). PGIM Australia is an Australian financial services ("AFS") licence holder (AFS licence number 544946). The details 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, investors should fit the requirements as set out in the Financial Markets Conduct Act 2013. In China, the info is provided at your request and is not intended as financial investment advice or a suggestion about handling or investing properties.

In Canada, pursuant to the global advisor registration exemption in National Instrument 31-103, PGIM, Inc. is informing 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 home is New Jersey, U.S.A.; (3) there might be difficulty enforcing legal rights versus PGIM, Inc. because it is resident beyond Canada and all or substantially all of its properties may be positioned outside of Canada; and (4) the name and address of the representative for service of process of PGIM, Inc. in the relevant 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 associated in any way with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, included in the UK.

These products are for educational or educational functions just.

All financial investments include risks, consisting of possible loss of principal. Past efficiency is not a sign of future outcomes.

The details included herein is offered by PGIM, the principal possession management service of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its international subsidiaries. PGIM, Inc. is a financial investment consultant registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a particular level of ability or training.

In the UK, details is issued by PGIM Limited with registered workplace: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N5HR. PGIM Limited is authorised and managed by the Financial Conduct Authority ("FCA") of the UK (Firm Reference Number 193418). In the European Economic Area ("EEA"), info is issued 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 running on the basis of a European passport. In specific EEA nations, information is, where permitted, presented by PGIM Limited in reliance of provisions, exemptions or licenses available to PGIM Limited under short-term consent arrangements following the exit of the UK from the European Union. These materials are issued by PGIM Limited and/or PGIM Netherlands B.V. to persons who are professional customers as defined under the guidelines of the FCA and/or to individuals who are professional customers as specified in the pertinent 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, information is supplied 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 various investment management services in Japan. PGIMREJ is a Japanese realty 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 expert financiers as defined in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, details is issued by PGIM (Singapore) Pte. Ltd. ("PGIM Singapore"), a regulated entity with the Monetary Authority of Singapore under a Capital Markets Services License to carry out fund management and an exempt financial advisor. This product is released by PGIM Singapore for the basic info of "institutional financiers" pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the "SFA") and "accredited investors" and other pertinent persons in accordance with the conditions specified in Section 305 of the SFA. In South Korea, info is provided by PGIM, Inc., which is accredited to offer discretionary investment management services directly to South Korean qualified institutional investors on a cross-border basis. In Australia, info is released by PGIM (Australia) Pty Ltd ("PGIM Australia") for the general details 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 supplied 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, financiers should fit the criteria as set out in the Financial Markets Conduct Act 2013. In China, the information is provided at your demand and is not intended as investment guidance or a recommendation about managing or investing assets.

In Canada, pursuant to the global advisor registration exemption in National Instrument 31-103, PGIM, Inc. is notifying you that: (1) PGIM, Inc. is not signed up in Canada and is advising you in reliance upon an exemption from the consultant registration requirement under National Instrument 31-103; (2) PGIM, Inc.'s jurisdiction of house is New Jersey, U.S.A.; (3) there may be trouble implementing legal rights versus PGIM, Inc. because it is resident beyond Canada and all or significantly all of its assets may be located outside of 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.

This information is not intended as financial investment advice and is not a recommendation about managing or investing assets or a deal or solicitation in respect of any service or products to any persons who are prohibited from getting such details under the laws appropriate to their location of citizenship, domicile or house. In offering these products, PGIM is not serving as your fiduciary. These products represent the views, opinions and suggestions of the author(s) regarding the financial conditions, asset classes, securities, companies or financial instruments referenced herein. Certain details has actually been obtained from sources that PGIM thinks to be trusted as of the date presented; however, PGIM can not ensure the accuracy of such details, guarantee its efficiency, or warrant such info will not be changed. This info, consisting of projections and forecasts, is existing as of the date of issuance (or an earlier referenced date) and undergoes alter without notice. PGIM has no commitment to upgrade such info; nor do we make any express or implied service warranties or representations as to the efficiency or accuracy or accept duty for mistakes. PGIM and its affiliates may develop and release research study that is independent of, and various than, the recommendations contained herein. References to specific securities are for illustrative purposes just and are not meant and must not be translated as recommendations to purchase, hold, or offer such securities.