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2025 PFI and Its Related Entities

In the United Kingdom, info is provided by PGIM Limited with registered 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»), info is issued 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 particular EEA nations, info is, where allowed, presented by PGIM Limited in dependence of arrangements, exemptions or licenses available to PGIM Limited under short-term consent plans following the exit of the United Kingdom from the European Union. These materials are issued by PGIM Limited and/or PGIM Netherlands B.V. to persons who are professional clients as specified under the rules of the FCA and/or to individuals who are expert clients as defined in the pertinent local execution of Directive 2014/65/EU (MiFID II). In Italy, details is supplied by PGIM Limited authorized 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 offers various financial investment management services in Japan. PGIMREJ is a Japanese genuine estate asset manager that is signed up with the Kanto Local Finance Bureau of Japan. In Hong Kong, details is provided by PGIM (Hong Kong) Limited, a managed entity with the Securities & & Futures Commission in Hong Kong to professional investors as defined in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, information 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 perform fund management and an exempt financial adviser. 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 pertinent individuals in accordance with the conditions specified in Section 305 of the SFA. In South Korea, info is provided by PGIM, Inc., which is licensed to provide discretionary financial investment management services directly 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 basic details of its wholesale clients (as specified in the Corporations Act 2001). PGIM Australia is an Australian monetary services («AFS») licence holder (AFS licence number 544946). The info 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 investor in New Zealand, financiers should fit the criteria as set out in the Financial Markets Conduct Act 2013. In China, the information is supplied at your demand and is not planned as financial investment recommendations or a recommendation about managing or investing assets.

In Canada, pursuant to the global adviser registration exemption in National Instrument 31-103, PGIM, Inc. is informing you that: (1) PGIM, Inc. is not signed up in Canada and is recommending you in dependence upon an exemption from the consultant registration requirement under National Instrument 31-103; (2) PGIM, Inc.’s jurisdiction of residence is New Jersey, U.S.A.; (3) there may be difficulty enforcing legal rights versus PGIM, Inc. because it is resident beyond Canada and all or considerably all of its properties might be situated outside of Canada; and (4) the name and address of the agent for service of process of PGIM, Inc. in the suitable 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 affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.

© 2025 PFI and its related entities, signed up in lots of jurisdictions worldwide.

These materials are for informational or educational purposes just.

All investments include dangers, including possible loss of principal. Past performance is not indicative of future outcomes.

The info consisted of herein is provided by PGIM, the principal asset 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 indicate a certain level of ability or training.

In the UK, information is released 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 UK (Firm Reference Number 193418). In the European Economic Area («EEA»), details 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 certain EEA nations, info is, where allowed, presented by PGIM Limited in dependence of provisions, exemptions or licenses available to PGIM Limited under short-term approval plans following the exit of the UK from the European Union. These products are issued by PGIM Limited and/or PGIM Netherlands B.V. to persons who are expert clients as specified under the rules of the FCA and/or to individuals who are professional customers as specified in the appropriate regional implementation of Directive 2014/65/EU (MiFID II). In Italy, details is offered by PGIM Limited licensed to run in Italy by Commissione Nazionale per le Società e la Borsa (CONSOB). In Japan, info 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 uses different financial investment management services in Japan. PGIMREJ is a Japanese realty property manager that is signed up 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 financiers as specified in Section 1 of Part 1 of Schedule 1 of the Securities and Futures Ordinance (Cap. 571). In Singapore, details 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 carry out fund management and an exempt monetary advisor. This material is issued by PGIM Singapore for the general information of «institutional investors» pursuant to Section 304 of the Securities and Futures Act 2001 of Singapore (the «SFA») and «accredited investors» and other relevant persons in accordance with the conditions specified in Section 305 of the SFA. In South Korea, info is issued by PGIM, Inc., which is certified to offer discretionary financial investment management services straight to South Korean certified 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 customers (as defined in the Corporations Act 2001). PGIM Australia is an Australian financial services («AFS») licence holder (AFS licence number 544946). The details 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 investor in New Zealand, financiers must fit the criteria as set out in the Financial Markets Conduct Act 2013. In China, the details is provided at your demand and is not meant as financial investment guidance or a suggestion about managing or investing properties.

In Canada, pursuant to the global consultant registration exemption in National Instrument 31-103, PGIM, Inc. is notifying you that: (1) PGIM, Inc. is not registered in Canada and is recommending you in dependence upon an exemption from the consultant registration requirement under National Instrument 31-103; (2) PGIM, Inc.’s jurisdiction of residence is New Jersey, U.S.A.; (3) there might be difficulty imposing legal rights against PGIM, Inc. since it is resident beyond Canada and all or significantly all of its properties might be located beyond Canada; and (4) the name and address of the agent 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.

This info is not intended as investment advice and is not a suggestion about handling or investing possessions or a deal or solicitation in respect of any service or products to anybodies who are from getting such information under the laws suitable to their place of citizenship, domicile or house. In providing these products, PGIM is not serving as your fiduciary. These products represent the views, viewpoints and recommendations of the author(s) relating to the financial conditions, possession classes, securities, companies or financial instruments referenced herein. Certain information has actually been obtained from sources that PGIM believes to be dependable as of the date presented; nevertheless, PGIM can not ensure the precision of such info, ensure its efficiency, or warrant such info will not be changed. This info, consisting of forecasts and projections, is existing as of the date of issuance (or an earlier referenced date) and goes through change without notification. PGIM has no commitment to update such information; nor do we make any express or implied service warranties or representations regarding the completeness or accuracy or accept duty for errors. PGIM and its affiliates may establish and publish research that is independent of, and various than, the suggestions consisted of herein. References to specific securities are for illustrative functions just and are not planned and need to not be interpreted as recommendations to purchase, hold, or offer such securities.