<SEC-DOCUMENT>0001140361-25-046593.txt : 20251223
<SEC-HEADER>0001140361-25-046593.hdr.sgml : 20251223
<ACCEPTANCE-DATETIME>20251223180645
ACCESSION NUMBER:		0001140361-25-046593
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20251223
DATE AS OF CHANGE:		20251223

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JANUS HENDERSON GROUP PLC
		CENTRAL INDEX KEY:			0001274173
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		EIN:				000000000
		STATE OF INCORPORATION:			Y9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-90000
		FILM NUMBER:		251601993

	BUSINESS ADDRESS:	
		STREET 1:		201 BISHOPSGATE
		CITY:			LONDON
		STATE:			X0
		ZIP:			EC2M 3AE
		BUSINESS PHONE:		442078181818

	MAIL ADDRESS:	
		STREET 1:		201 BISHOPSGATE
		CITY:			LONDON
		STATE:			X0
		ZIP:			EC2M 3AE

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HENDERSON GROUP PLC
		DATE OF NAME CHANGE:	20050511

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HHG PLC
		DATE OF NAME CHANGE:	20031223

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MASSACHUSETTS MUTUAL LIFE INSURANCE CO
		CENTRAL INDEX KEY:			0000225602
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		ORGANIZATION NAME:           	
		EIN:				041590850
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D

	BUSINESS ADDRESS:	
		STREET 1:		1295 STATE STREET
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01111
		BUSINESS PHONE:		4137448411

	MAIL ADDRESS:	
		STREET 1:		1295 STATE STREET
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01111
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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<submissionType>SCHEDULE 13D</submissionType>
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<formData>
<coverPageHeader>
<securitiesClassTitle>Ordinary Shares, $1.50 per share par value</securitiesClassTitle>
<dateOfEvent>12/21/2025</dateOfEvent>
<previouslyFiledFlag>false</previouslyFiledFlag>
<issuerInfo>
<issuerCIK>0001274173</issuerCIK>
<issuerCUSIP>G4474Y214</issuerCUSIP>
<issuerName>JANUS HENDERSON GROUP PLC</issuerName>
<address>
<com:street1>201 Bishopsgate</com:street1>
<com:city>London</com:city>
<com:stateOrCountry>X0</com:stateOrCountry>
<com:zipCode>EC2M 3AE</com:zipCode>
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<authorizedPersons>
<notificationInfo>
<personName>Jaime Genua</personName>
<personPhoneNum>(800) 767-1000</personPhoneNum>
<personAddress>
<com:street1>1295 State Street</com:street1>
<com:city>Springfield</com:city>
<com:stateOrCountry>MA</com:stateOrCountry>
<com:zipCode>01111</com:zipCode>
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<reportingPersons>
<reportingPersonInfo>
<reportingPersonCIK>0000225602</reportingPersonCIK>
<reportingPersonName>MASSACHUSETTS MUTUAL LIFE INSURANCE CO</reportingPersonName>
<memberOfGroup>b</memberOfGroup>
<fundType>WC</fundType>
<citizenshipOrOrganization>MA</citizenshipOrOrganization>
<soleVotingPower>9283</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>9283</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
<aggregateAmountOwned>9283</aggregateAmountOwned>
<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>0.1</percentOfClass>
<typeOfReportingPerson>IC</typeOfReportingPerson>
<commentContent>The Reporting Person's beneficial ownership is less than 0.1%.</commentContent>
</reportingPersonInfo>
</reportingPersons>
<items1To7>
<item1>
<securityTitle>Ordinary Shares, $1.50 per share par value</securityTitle>
<issuerName>JANUS HENDERSON GROUP PLC</issuerName>
<issuerPrincipalAddress>
<com:street1>201 Bishopsgate</com:street1>
<com:city>London</com:city>
<com:stateOrCountry>X0</com:stateOrCountry>
<com:zipCode>EC2M 3AE</com:zipCode>
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<commentText>This Statement on Schedule 13D (this "Schedule 13D") relates to Ordinary Shares, $1.50 per share par value (the "Ordinary Shares"), of Janus Henderson Group plc, a public limited company organized under the Laws of Jersey (the "Issuer").</commentText>
</item1>
<item2>
<filingPersonName>This Schedule 13D is being filed by: Massachusetts Mutual Life Insurance Company ("MassMutual").&#13;
&#13;
Information regarding each director and executive officer of MassMutual is set forth on Schedule I attached hereto as Exhibit 99.1 and is incorporated herein by reference in this Item 2.</filingPersonName>
<principalBusinessAddress>The principal business address of MassMutual is 1295 State Street, Springfield, MA, 01111.</principalBusinessAddress>
<principalJob>The principal business of MassMutual is that of a diversified financial services organization providing financial products and services that include mutual funds, money management, trust services, retirement planning products, life insurance, annuities, disability income insurance, and long-term care insurance.</principalJob>
<hasBeenConvicted>During the last five years, none of the Reporting Persons or, to the best knowledge of the Reporting Persons, any of the other persons set forth on Schedule I attached hereto, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).</hasBeenConvicted>
<convictionDescription>During the last five years, none of the Reporting Persons or, to the best knowledge of the Reporting Persons, any of the other persons set forth on Schedule I attached hereto, has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.</convictionDescription>
<citizenship>MassMutual is a Massachusetts mutual life insurance company.</citizenship>
</item2>
<item3>
<fundsSource>The securities reported herein were acquired through advisory accounts of MassMutual.&#13;
&#13;
The information set forth or incorporated in Items 4 and 5 of this Schedule 13D is hereby incorporated by reference in its entirety into this Item 3.</fundsSource>
</item3>
<item4>
<transactionPurpose>On December 21, 2025, the Issuer, Jupiter Company Limited, a company incorporated in Jersey ("Parent"), and Jupiter Merger Sub Limited, a company incorporated in Jersey ("Merger Sub"), entered into an Agreement and Plan of Merger (the "Merger Agreement") providing for the acquisition of the Issuer by Parent.&#13;
&#13;
The Merger Agreement provides that, among other things, upon the terms and subject to the conditions set forth in the Merger Agreement, at the effective time ("Effective Time"), Merger Sub will merge with and into the Issuer (the "Merger") in accordance with the Companies (Jersey) Law 1991 (the "Companies Law"), with the Issuer continuing as the surviving corporation and a wholly owned subsidiary of Parent.&#13;
&#13;
Pursuant to the Merger Agreement, each Ordinary Share issued and outstanding immediately prior to the Effective Time (except for shares held by Parent and as otherwise provided in the Merger Agreement) will be converted into the right to receive $49.00 per Ordinary Share in cash, without interest (the "Merger Consideration"). &#13;
&#13;
If the Merger is consummated, the Issuer intends to delist the Ordinary Shares from the New York Stock Exchange and deregister such shares under the Exchange Act.&#13;
&#13;
In connection with the Merger Agreement, on December 21, 2025, Parent, at the direction of Trian Fund Management, L.P. and its affiliates (collectively, "Trian") and General Catalyst Group Management, LLC and its affiliates (collectively, "General Catalyst" and, together with Trian, the "Sponsors"), entered into a preferred equity commitment letter (the "Equity Commitment Letter") with MassMutual. Pursuant to the terms of the Equity Commitment Letter, MassMutual has committed to contribute to Parent up to $1,000,000,000 at the closing of the Merger in exchange for certain preferred equity interests of TopCo (the "Transaction"), subject to the completion of the Merger and the satisfaction of customary conditions set forth in the Equity Commitment Letter.&#13;
&#13;
The foregoing descriptions of the Merger Agreement and Equity Commitment Letter do not purport to be complete and are qualified in their entirety by reference to the text of such agreements, which with respect to (i) the Merger Agreement has been filed as an exhibit to the Issuer's Report on Form 8-K filed with the Securities and Exchange Commission on December 22, 2025, and (ii) the Equity Commitment Letter has been filed as an exhibit to this Schedule 13D, and is incorporated herein by reference.</transactionPurpose>
</item4>
<item5>
<percentageOfClassSecurities>Calculations of the percentage of Ordinary Shares beneficially owned assumes that there are a total of 154,476,408 Ordinary Shares outstanding (as reported in the Form 10-Q filed by the Issuer on October 30, 2025).&#13;
&#13;
The aggregate number and percentage of Ordinary Shares beneficially owned by the Reporting Person and, for the Reporting Person, the number of Ordinary Shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition are set forth on rows 7 through 11 and row 13 of the cover page of this Schedule 13D and are incorporated herein by reference.&#13;
&#13;
As of December 22, 2025, MassMutual may be deemed to beneficially own 9,283.527 Ordinary Shares held in advisory accounts over which a wholly-owned subsidiary of MassMutual may be deemed to have dispositive power. None of the Reporting Persons has any pecuniary interest in such 9,283.527 Ordinary Shares as such term is used for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act").&#13;
&#13;
By virtue of the Equity Commitment Letter, MassMutual and Trian may be deemed to be acting as a group for purposes of Rule 13d-5 under the Exchange Act. Neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission that MassMutual and Trian are members of any such group. The beneficial ownership of MassMutual reported herein does not include any Ordinary Shares beneficially owned by Trian and MassMutual expressly disclaims beneficial ownership of all securities beneficially owned by Trian.&#13;
&#13;
Neither the filing of this Schedule 13D nor any of its contents shall be deemed to constitute an admission that the Reporting Person is the beneficial owner of Ordinary Shares referred to herein for purposes of Section 13(d) of the Exchange Act, or for any other purpose, and such beneficial ownership is expressly disclaimed.</percentageOfClassSecurities>
<numberOfShares>See Item 5(a) above.</numberOfShares>
<transactionDesc>MassMutual has not effected any transactions in the Ordinary Shares during the past 60 days other than as described in this Schedule 13D and as set forth on Schedule II attached hereto.</transactionDesc>
<listOfShareholders>Not applicable.</listOfShareholders>
<date5PercentOwnership>Not applicable.</date5PercentOwnership>
</item5>
<item6>
<contractDescription>The information set forth or incorporated in Items 3 and 4 of this Schedule 13D is hereby incorporated by reference in its entirety into this Item 6.</contractDescription>
</item6>
<item7>
<filedExhibits>Exhibit 99.1 	Preferred Equity Commitment Letter, dated as of December 21, 2025, by and among Massachusetts Mutual Life Insurance Company and Jupiter Parent Limited.&#13;
&#13;
Exhibit 99.2 	Schedule I to Schedule 13D&#13;
&#13;
Exhibit 99.3 	Schedule II to Schedule 13D</filedExhibits>
</item7>
</items1To7>
<signatureInfo>
<signaturePerson>
<signatureReportingPerson>MASSACHUSETTS MUTUAL LIFE INSURANCE CO</signatureReportingPerson>
<signatureDetails>
<signature>/s/ Jaime Genua</signature>
<title>Jaime Genua, Assistant Secretary</title>
<date>12/23/2025</date>
</signatureDetails>
</signaturePerson>
</signatureInfo>
</formData>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ef20061820_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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  <div style="text-align: center;">
    <div style="text-align: right;"><font style="font-weight: bold;"> Exhibit 99.1</font><br>
    </div>
    <div>
      <div style="font-weight: bold;"> <br>
      </div>
      <div style="font-weight: bold; text-align: right;">Private &amp; Confidential</div>
      <div style="text-align: right;">Execution Version</div>
      <div> <br>
      </div>
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          <td style="width: 34%; vertical-align: top;">
            <div style="font-weight: bold; text-align: center;">Massachusetts Mutual Life </div>
            <div style="font-weight: bold; text-align: center;">Insurance Company</div>
            <div style="text-align: center;">1295 State Street</div>
            <div style="text-align: center;">Springfield, MA 01111</div>
          </td>
          <td style="width: 33.34%; vertical-align: top;"><br>
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    <div><br>
    </div>
    <div style="text-align: left;">December 21, 2025</div>
    <div><br>
    </div>
    <div style="text-align: left;">Jupiter Company Limited</div>
    <div style="text-align: left;">Jupiter Topco LLC</div>
    <div style="text-align: left;">c/o Trian Fund Management, L.P.</div>
    <div style="text-align: left;">280 Park Avenue, 41<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">st</sup> Floor</div>
    <div style="text-align: left;">New York, NY 10017</div>
    <div style="text-align: left;">Attn:&#160;&#160;&#160;&#160; Brian L. Schorr</div>
    <div style="text-align: left;"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Daniel R. Marx </div>
    <div><br>
    </div>
    <div style="text-align: left;">With a copy to:</div>
    <div><br>
    </div>
    <div style="text-align: left;">General Catalyst Group Management, LLC</div>
    <div style="text-align: left;">20 University Road, Fourth Floor</div>
    <div style="text-align: left;">Cambridge, MA 02138</div>
    <div style="text-align: left;">Attn:&#160;&#160;&#160;&#160; Christopher McCain, Chief Legal Officer</div>
    <div><br>
    </div>
    <div><u>Project Jupiter</u></div>
    <div><u>Preferred Equity Commitment Letter</u></div>
    <div><br>
    </div>
    <div style="text-align: left;">Ladies and Gentlemen:</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">You have advised Massachusetts Mutual Life Insurance Company, a Massachusetts mutual life insurance company (together with its affiliates and any funds, entities, investors or accounts that are managed,
      sponsored, administered or advised by Massachusetts Mutual Life Insurance Company or its affiliates, &#8220;<font style="font-weight: bold;">MassMutual</font>&#8221;), that Jupiter Company Limited, a private limited company organized under the laws of Jersey (&#8220;<font style="font-weight: bold;">Parent</font>&#8221;), at the direction of Trian Fund Management, L.P. and its affiliates (collectively, &#8220;<font style="font-weight: bold;">Trian</font>&#8221;) and General Catalyst Group Management, LLC and its affiliates
      (collectively, &#8220;<font style="font-weight: bold;">General Catalyst</font>&#8221; and, together with Trian, the &#8220;<font style="font-weight: bold;">Sponsors</font>&#8221;), intends to consummate the Transactions described in the Transaction Description attached
      hereto as <u>Exhibit A</u> (the &#8220;<font style="font-weight: bold;">Transaction Description</font>&#8221;). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Transaction Description or the Summary
      of Principal Terms and Conditions attached hereto as <u>Exhibit B</u> (the &#8220;<font style="font-weight: bold;">Preferred Equity Term Sheet</font>&#8221;); this commitment letter, the Transaction Description, the Preferred Equity Term Sheet and the Summary
      of Conditions attached hereto as <u>Exhibit C</u> (collectively, as amended, restated, supplemented or otherwise modified from time to time, the &#8220;<font style="font-weight: bold;">Commitment Letter</font>&#8221;).</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Commitment</u>. In connection with the Transactions, MassMutual is pleased to advise you of its commitment (the &#8220;<font style="font-weight: bold;">Commitment</font>&#8221;) to purchase Preferred
      Equity (as defined in <u>Exhibit B</u>), having the terms and conditions set forth in the Preferred Equity Term Sheet, for an aggregate cash purchase price of $1,000,000,000, upon the terms of this Commitment Letter and subject only to the
      satisfaction of the conditions set forth in <u>Exhibit C</u> hereto. For the avoidance of doubt, MassMutual&#8217;s Commitment shall be subject to adjustment as expressly set forth under the heading &#8220;Preferred Equity&#8221; in the Preferred Equity Term Sheet.</div>
    <div><br>
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    <div style="text-indent: 36pt; text-align: left;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Shop</u>. Other than pursuant to the Sponsor Designation Right (as defined below), from the date hereof until the earliest of: (a) the mutual agreement of the parties not to pursue
      the execution of the Preferred Equity Documentation; (b) the Closing Date (as defined in the Acquisition Agreement); and (c) if the Closing Date shall not have occurred, the Termination Date (as defined in the Acquisition Agreement and as may be
      extended pursuant to Section 9.1(b) of the Acquisition Agreement) (or such later date as you and MassMutual shall have mutually agreed to extend MassMutual&#8217;s commitment hereunder), so long as MassMutual continues to be willing to fund its Commitment
      on the terms and conditions set forth in this Commitment Letter and has not materially breached its obligations hereunder, you (i) shall not, and shall cause your affiliates, agents, representatives, counsel, consultants and advisors and any other
      person acting on your or their behalf not to, directly or indirectly solicit, participate in any negotiations or discussions with or provide or afford access to information to any third party with respect to, or otherwise facilitate, encourage or
      accept any offers for the purchase of the Preferred Equity or any alternative preferred equity arrangements that are pari passu with, or senior to, the Preferred Equity in connection with the Transactions and (ii) shall terminate or have terminated
      prior to the date hereof any agreement or arrangement related to the foregoing to which you or your affiliates are parties, as well as any activities and discussions related to the foregoing and may be continuing on the date hereof with any party
      other than MassMutual and its representatives and the providers of the Facilities and their respective affiliates; <u>provided</u>, that the foregoing restrictions shall not apply with respect to the exercise by you of the Sponsor Designation Right.
      For the avoidance of doubt, unless otherwise agreed among the parties, prior to accepting any offers for the purchase of alternative debt or common equity financing from third parties in lieu of all or a portion of the Preferred Equity, you agree
      that you shall offer MassMutual the bona fide reasonable opportunity to provide financing for such alternative debt or common equity financing on substantially the same terms and conditions as those offered to such third parties; <u>provided</u>,
      that if MassMutual elects not to participate in such alternative debt or common equity financing after being offered the opportunity to provide financing for such alternative debt or common equity financing as described in this paragraph, then
      subject to and upon consummation of such alternative financing, the Issuer shall reimburse MassMutual, upon presentation of a summary statement, for its reasonable, documented and invoiced out-of-pocket expenses (including reasonable, documented and
      invoiced fees of Simpson Thacher &amp; Bartlett LLP) incurred by MassMutual in connection with the Preferred Equity and the preparation of the Preferred Equity Documentation.</div>
    <div><br>
    </div>
    <div style="text-align: left;">Notwithstanding the foregoing, if the Acquisition is not consummated prior to the Termination Date, but you, the Sponsors or any of your or their affiliates determines, during the period ending on the date which is 12
      months after the date of the Commitment Letter (the &#8220;<font style="font-weight: bold;">Alternate Transaction Period</font>&#8221;),<font style="font-weight: bold;">&#160;</font>to proceed with (1) the Acquisition or (2) any similar transaction in which you, the
      Sponsors or any of your or their affiliates will acquire, directly or indirectly, all or substantially all of the capital stock or assets of the Company (any such foregoing transaction, an &#8220;<font style="font-weight: bold;">Alternate Transaction</font>&#8221;),<font style="font-weight: bold;">&#160;</font>then you agree that you shall offer MassMutual the bona fide reasonable opportunity to provide financing for such Alternate Transaction on substantially the same terms and conditions contemplated by this
      Commitment Letter.</div>
    <div><br>
    </div>
    <div style="text-align: left;">Notwithstanding the preceding paragraphs, nothing in this Section 2 shall restrict, limit or otherwise prohibit (x) the Sponsors, the Issuer or their respective affiliates from engaging in any discussions, negotiations,
      inquiries, information-sharing, cooperation or other activities to the extent such activities are permitted, required or not prohibited under the Acquisition Agreement (including in connection with any superior proposal, competing transaction or
      similar provisions therein), or (y) any ordinary course communications with, or the provision of information to, potential lenders, financing sources, equity investors or other financing counterparties in connection with the Facilities or any
      customary or ordinary course financing activities of the Sponsors or their affiliates and any ordinary course communications with, or the provision of information to, any of the Sponsors&#8217; affiliates, including any of their limited partners, and their
      respective officers, directors, employees, agents, attorneys, accountants, advisors, controlling persons and equity holders and to actual and potential&#160;co-investors&#160;who are informed of the confidential nature thereof and who agree to keep such
      information confidential, on a confidential and&#160;need-to-know&#160;basis.</div>
    <div><br>
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    <div style="text-indent: 36pt; text-align: left;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>[Reserved]</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>[Reserved]</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Conditions</u>. MassMutual&#8217;s Commitment to purchase the Preferred Equity on the Closing Date is subject solely to the conditions to be satisfied (or waived by MassMutual) on or prior to
      the Closing Date as set forth in <u>Exhibit C</u> hereto, and upon the satisfaction (or waiver by MassMutual) of such conditions, the purchase of the Preferred Equity shall occur; it being understood that there are no conditions (implied or
      otherwise) to the Commitment hereunder and there will be no conditions (implied or otherwise) under the Preferred Equity Documentation to the purchase or effectiveness, as applicable, of the Preferred Equity on the Closing Date, including compliance
      with the terms (but not the conditions) of this Commitment Letter and the Preferred Equity Documentation, other than those that are expressly referred to in <u>Exhibit C</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>[Reserved]</u>.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Sharing of Information, Absence of Fiduciary Relationships, Affiliate Activities</u>. You acknowledge that MassMutual and its affiliates may be providing debt financing or equity
      capital, and affiliates of MassMutual may be providing other services (including, without limitation, investment banking, and financial advisory services, securities trading, hedging, financing and brokerage activities and financial planning and
      benefits counseling) to other persons in respect of which you, the Sponsors, the Issuer (or any of its subsidiaries) and your and their respective affiliates may have conflicting interests regarding the transactions described herein and otherwise.
      MassMutual and its affiliates will not use confidential information obtained from you, the Sponsors, the Issuer or any of your or their respective subsidiaries or affiliates by virtue of the transactions contemplated by this Commitment Letter or
      their other relationships with you, the Sponsors, the Issuer or any of your or their respective subsidiaries or affiliates in connection with the provision of debt financing or equity capital to other persons or the performance by them or their
      affiliates of services for other persons, and MassMutual and its affiliates will not furnish any such information to other persons, except to the extent permitted below. You also acknowledge that MassMutual and its affiliates do not have any
      obligation to use in connection with the transactions contemplated by this Commitment Letter, or to furnish to you, confidential information obtained by them from other persons.</div>
    <div><br>
    </div>
    <div>
      <div style="text-align: left;">MassMutual and its affiliates may also co-invest with, make direct investments in, and invest or co-invest monies in or with funds or other investment vehicles managed by other parties, and such funds or other
        investment vehicles may trade or make investments in securities of you, the Sponsors (or any of their respective subsidiaries), the Issuer (or any of its subsidiaries) or other companies which may be the subject of the arrangements contemplated by
        this Commitment Letter or engage in commodities or other trading with any thereof. With respect to any securities and/or financial instruments so held by MassMutual or its affiliates or any of its customers, all rights in respect of such securities
        and financial instruments, including any voting rights, will be exercised by the holder of the rights in its sole discretion.</div>
      <div> <br>
      </div>
    </div>
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    </div>
    <div style="text-align: left;">MassMutual and its affiliates may have economic interests that conflict with those of the Issuer, you and the Sponsors (or any of their respective subsidiaries) and are under no obligation to disclose any conflicting
      interest to you. You agree that MassMutual will act under this letter as an independent contractor and that nothing in this Commitment Letter will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty
      between MassMutual and its affiliates, on the one hand, and you, the Sponsors, the Issuer, your and their respective equity holders or your and their respective affiliates, on the other hand. You acknowledge and agree that (i) the transactions
      contemplated by this Commitment Letter are arm&#8217;s-length commercial transactions between MassMutual and its affiliates, on the one hand, and you or your affiliates, on the other, (ii) in connection therewith and with the process leading to such
      transaction MassMutual and its affiliates (as the case may be) are acting solely as a principal and not as an agent or fiduciary of you, the Sponsors, the Issuer, your and their respective management, equity holders, creditors, affiliates or any
      other person, (iii) MassMutual and its affiliates (as the case may be) have not assumed an advisory or fiduciary responsibility or any other obligation in favor of you or your affiliates with respect to the transactions contemplated hereby, the
      exercise of the remedies with respect thereto or the process leading thereto (irrespective of whether MassMutual or any of its affiliates have advised or are currently advising you, the Sponsors or the Issuer on other matters), and MassMutual has no
      obligation to you or your affiliates with respect to the transactions contemplated hereby except the obligations expressly set forth in this Commitment Letter and (iv) MassMutual has not provided any legal, accounting, regulatory or tax advice and
      you have consulted your own legal and financial advisors to the extent you deemed appropriate. You hereby waive any claims that you or any of your affiliates may have against MassMutual and its affiliates for breach of fiduciary duty or alleged
      breach of fiduciary duty in connection with the Transactions and agree that none of MassMutual or any of its affiliates shall have any liability (whether direct or indirect) to you in respect of such a fiduciary claim or to any person asserting a
      fiduciary duty claim on behalf of or in right of you, including your equity holders, employees or creditors, in connection with the Transactions in respect of MassMutual&#8217;s capacity as a purchaser of the Preferred Equity.</div>
    <div><br>
    </div>
    <div style="text-align: left;">Without limiting the generality of this section, you hereby acknowledge that MassMutual and its affiliates may be engaged in such roles and that such roles may involve interests that differ from your interests and those
      of the Sponsors (or their respective subsidiaries) and the Issuer and you hereby waive any claims that you or your affiliates may have against MassMutual and its affiliates relating to this Commitment Letter or the Transactions as a result of any
      such conflict of interest and agree that MassMutual and its affiliates shall not have any liability (whether direct or indirect) to your or your affiliates in respect of any such claim or to any person asserting any such claim on behalf of you or
      your affiliates, including your equity owners.</div>
    <div><br>
    </div>
    <div style="text-align: left;">You further acknowledge and agree that you are responsible for making your own independent judgment with respect to such transactions and the process leading thereto. You agree that you will not claim that MassMutual or
      its affiliates, as the case may be, have rendered advisory services of any nature or respect, or owe a fiduciary or similar duty to you or your affiliates, in connection with such transactions or the process leading thereto and none of MassMutual or
      any of its affiliates shall have any responsibility or liability to you with respect thereto.</div>
    <div><br>
    </div>
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    </div>
    <div style="text-indent: 36pt; text-align: left;">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Confidentiality</u>. Parent agrees that it will not disclose, directly or indirectly, prior to Parent&#8217;s acceptance hereof, this Commitment Letter, the Preferred Equity Term Sheet, the
      other exhibits and attachments hereto or the contents of each thereof, or MassMutual&#8217;s activities pursuant hereto or thereto, to any person or entity without the prior written approval of MassMutual (such approval not to be unreasonably withheld,
      delayed or conditioned), except (a)&#160;to the Sponsors and to any of Parent&#8217;s or the Sponsors&#8217; affiliates and Parent&#8217;s and their respective officers, directors, employees, agents, attorneys, accountants, advisors, controlling persons and equity holders
      and to actual and potential&#160;co-investors&#160;who are informed of the confidential nature thereof and who agree in writing (which agreement may be via e-mail or a click-through arrangement) to keep such information confidential, on a confidential
      and&#160;need-to-know&#160;basis, (b)&#160;if MassMutual consents in writing (which may be via e-mail) to such proposed disclosure, (c) to the extent such information becomes publicly available other than by reason of improper disclosure in violation of any
      confidentiality obligations of Parent, the Sponsors or any of its or their respective affiliates set forth herein or (d)&#160;pursuant to an order of any court or administrative agency or in any pending legal, judicial or administrative proceeding, or
      otherwise as required by applicable law, rule or regulation or compulsory legal process or to the extent requested or required by governmental and/or regulatory authorities, in each case based on the reasonable advice of Parent&#8217;s legal counsel (in
      which case Parent agrees, to the extent practicable and not prohibited by applicable law, rule or regulation, to inform MassMutual promptly thereof prior to disclosure); <u>provided</u> that (i)&#160;Parent may disclose this Commitment Letter and the
      contents hereof to the Company, its subsidiaries and affiliates and its and their respective officers, directors, employees, agents, attorneys, accountants, advisors and controlling persons, on a confidential and&#160;need-to-know&#160;basis, (ii)&#160;Parent may
      disclose the Commitment Letter and its contents (including the Preferred Equity Term Sheet and other exhibits and attachments hereto) in any syndication or other marketing materials in connection with the Facilities (including any marketing materials
      and information memorandum used in connection therewith) or in connection with any public or regulatory filing requirement relating to the Transactions, (iii) Parent may disclose the aggregate fee amounts contained in this Commitment Letter or the
      Preferred Equity Term Sheet as part of the projections, pro forma information or a generic disclosure of aggregate sources and uses related to fee amounts related to the Transactions to the extent customary or required in any syndication or other
      offering and marketing materials or in connection with the Facilities (including any information memorandum used in connection therewith) or in connection with any public or regulatory filing requirement relating to the Transactions, (iv) Parent may
      disclose the Preferred Equity Term Sheet and other exhibits and attachments to the Commitment Letter, and the contents thereof, to rating agencies in connection with obtaining public ratings for Debt Merger Sub or JHG U.S. Topco (in its capacity as
      &#8220;Borrower&#8221; under the Facilities) and the Facilities, (v)&#160;Parent may disclose this Commitment Letter and the contents thereof (including the Preferred Equity Term Sheet and other exhibits and attachments hereto) to the initial lenders and any
      prospective lenders under the Facilities, any actual or potential co-investor, any additional prospective investor in the Preferred Equity and to any such person&#8217;s affiliates and their respective officers, directors, employees, agents, attorneys,
      accountants and other advisors, on a confidential and&#160;need-to-know&#160;basis and (vi)&#160;in connection with any remedy or enforcement of any right hereunder. Notwithstanding anything to the contrary in this <u>Section 8</u>, no notice will be required to
      MassMutual with respect to routine audits or examinations by regulatory or tax authorities (including self-regulatory authorities) in the ordinary course of business that do not target MassMutual or the Preferred Equity.</div>
    <div><br>
    </div>
    <div style="text-align: left;">MassMutual reserves the right to review and approve (such approval not to be unreasonably withheld, delayed or conditioned), in advance, all materials, press releases, advertisements and public disclosures by you or your
      affiliates (other than any materials, press releases, advertisements and public disclosures that are substantially the same in substance as those that have previously been approved by MassMutual) that contain the name of MassMutual or any of its
      affiliates or describe MassMutual&#8217;s roles or activities with respect to the purchase of the Preferred Equity; <u>provided</u> that no such approval shall be required for any disclosure to the extent required by applicable law, rule or regulation or
      by any governmental or regulatory authority.</div>
    <div><br>
    </div>
    <div style="text-align: left;">MassMutual and its affiliates acknowledge that MassMutual has entered into a letter agreement, dated as of March 12, 2025 with Trian (the &#8220;<font style="font-weight: bold;">Confidentiality Agreement</font>&#8221;), which shall
      continue in full force and effect and apply to all Confidential Information (as defined therein) provided to MassMutual or its Representatives (as defined therein) in connection with this Commitment Letter and the Preferred Equity. In the event that
      the Preferred Equity is funded, the Confidentiality Agreement shall terminate automatically and be superseded by the confidentiality and use provisions in the Preferred Equity Documentation upon the initial funding thereunder to the extent that such
      provisions are binding on MassMutual and its affiliates.</div>
    <div><br>
    </div>
    <div style="text-align: left;">Notwithstanding anything herein to the contrary, any party to this Commitment Letter (and any employee, representative or other agent of such party) may disclose to any and all persons, without limitation of any kind, the
      structure and tax treatment of the transactions contemplated by this Commitment Letter and all materials of any kind (including opinions or other tax analyses) that are provided to it relating to such structure and tax treatment, except that (i)
      structure and tax treatment shall not include the identity of any existing or future party (or any affiliate of such party) to this Commitment Letter and (ii) no party shall disclose any information relating to such structure and tax treatment to the
      extent nondisclosure is reasonably necessary in order to comply with applicable securities laws. For this purpose, the tax treatment of the transactions contemplated by this Commitment Letter is the purported or claimed U.S. federal income tax
      treatment of such transactions and the structure of such transactions is any fact that may be relevant to understanding the purported or claimed U.S. federal income tax treatment of such transactions.</div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">5</font></div>
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    </div>
    <div style="text-indent: 36pt; text-align: left;">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Miscellaneous</u>. This Commitment Letter and the Commitment shall not be assignable by any party hereto (other than (a)&#160;any assignment occurring as a matter of law pursuant to, or
      otherwise substantially simultaneously with, the Acquisition on the Closing Date, in each case to the Company, the Issuer, Merger Sub or Debt Merger Sub, (b)&#160;by Parent to the Company, the Issuer, Merger Sub or Debt Merger Sub substantially
      simultaneously with the Acquisition on the Closing Date, in each case, so long as such entity is, or will be, controlled by Parent or the Sponsors after giving effect to the Transactions and shall (directly or indirectly through one or more
      wholly-owned subsidiaries) own the Company and the Issuer and agrees to be bound by the terms hereof or (c) by MassMutual to (i) any affiliated investment entity and/or affiliate, (ii) any fund, investor entity or account that is managed, sponsored
      or advised by MassMutual or its affiliates or (iii) any limited partners of any fund, investor entity or account that is managed, sponsored or advised by MassMutual or its affiliates) without the prior written consent of the other party hereto (such
      consent not to be unreasonably withheld, conditioned or delayed) (and any attempted assignment without such consent shall be null and void <font style="font-style: italic;">ab initio</font>), <u>provided</u> that you hereby agree that MassMutual
      shall have the right to reallocate and assign its Commitment between or among its affiliated funds and any investment vehicles advised and/or managed by it or one of its affiliates and any co-investors; <u>provided</u>, <u>further</u>, that any
      such assignment or reallocation shall be subject to the transfer restrictions and Disqualified Investor provisions set forth in the Preferred Equity Term Sheet and the Preferred Equity Documentation. This Commitment Letter and the Commitment are
      intended to be solely for the benefit of the parties hereto, HoldCo and the Issuer and do not and are not intended to confer any benefits upon, or create any rights in favor of, any person other than the parties hereto, HoldCo and the Issuer. This
      Commitment Letter may not be amended or any provision hereof waived or modified except by an instrument in writing signed by MassMutual and Parent. This Commitment Letter may be executed in one or more counterparts, all of which will be considered
      one and the same agreement. Any such counterpart, to the extent delivered by pdf, .tif, .gif, .jpg or similar attachment to electronic mail or via DocuSign or similar e-signature platform (any such delivery, an &#8220;<font style="font-weight: bold;">Electronic

        Delivery</font>&#8221;), will be treated in all manner and respects as an original executed counterpart and will be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. No party hereto
      may raise the use of an Electronic Delivery to deliver a signature, or the fact that any signature or agreement or instrument was transmitted or communicated through the use of an Electronic Delivery, as a defense to the formation of a contract, and
      each party hereto forever waives any such defense, except to the extent such defense relates to lack of authenticity. This Commitment Letter (including the exhibits hereto), together with the Confidentiality Agreement, that certain letter agreement
      dated as of the date hereof between Parent and MassMutual with respect to the Preferred Equity (the &#8220;<font style="font-weight: bold;">Letter Agreement</font>&#8221;) and that certain interim investors agreement to be entered into in connection with the
      Transactions by and among the Issuer, MassMutual and certain investors and/or affiliates of the Issuer (the &#8220;<font style="font-weight: bold;">Interim Investors Agreement</font>&#8221;), (i)&#160;are the only agreements that have been entered into among the
      parties hereto with respect to MassMutual&#8217;s commitment with respect to the issuance of the Preferred Equity and (ii)&#160;supersede all prior understandings, whether written or oral, among us with respect to the Preferred Equity and sets forth the entire
      understanding of the parties hereto with respect thereto. This Commitment Letter, and any claim, controversy or dispute arising under, or related to, this Commitment Letter (including, without limitation, any claims sounding in contract law or tort
      law arising out of the subject matter hereof) shall be governed by, and construed in accordance with, the laws of the State of New York; <u>provided</u>, that, notwithstanding the foregoing, it is understood and agreed that the determination of
      whether (A) you (and any of your affiliates that is a party to the Acquisition Agreement) can terminate your (and their) obligations under the Acquisition Agreement (or otherwise decline to consummate the Acquisition), in each case, without liability
      to any of you, the Sponsors or any of your or their respective affiliates, (B) a Company Material Adverse Effect (as defined in the Acquisition Agreement) has occurred and (C) the Acquisition has been consummated in all material respects in
      accordance with the terms of the Acquisition Agreement, in each case shall be governed by, and construed in accordance with, the laws of the State of Delaware as applied to the Acquisition Agreement, without regard to the principles of conflicts of
      law that would cause the application of law of any jurisdiction other than those of the State of Delaware.</div>
    <div><br>
    </div>
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      <div class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">6</font></div>
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    </div>
    <div style="text-align: left;">Notwithstanding anything to the contrary in this Commitment Letter, each of the Sponsors shall have the right (the &#8220;<font style="font-weight: bold;">Sponsor Designation Right</font>&#8221;), to arrange, market, syndicate or
      sell a portion of the Preferred Equity to other purchasers as described under, and subject to the terms provided under, the heading &#8220;Preferred Equity&#8221; in the Preferred Equity Term Sheet.</div>
    <div><br>
    </div>
    <div style="text-align: left;">Each of the parties hereto agrees that this Commitment Letter is a binding and enforceable agreement (except as may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or
      similar laws relating to or affecting the rights of creditors generally) with respect to the subject matter contained herein, including an agreement to negotiate in good faith the Preferred Equity Documentation by the parties hereto in a manner
      consistent with this Commitment Letter, it being acknowledged and agreed that the commitment provided hereunder is subject solely to conditions precedent as expressly provided herein.</div>
    <div><br>
    </div>
    <div style="text-align: left;">EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT BY OR ON BEHALF OF ANY PARTY RELATED TO OR ARISING OUT OF THIS COMMITMENT LETTER OR
      PROVIDING OF COMMITMENT, AS THE CASE MAY BE, HEREUNDER.</div>
    <div><br>
    </div>
    <div style="text-align: left;">Each of the parties hereto hereby irrevocably and unconditionally (a)&#160;submits, for itself and its property, to the exclusive jurisdiction of any New York State court or Federal court of the United States of America
      sitting in New York County in the State of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Commitment Letter or the transactions contemplated hereby or thereby, or for recognition or
      enforcement of any judgment, and agrees that all claims in respect of any such action or proceeding shall be heard and determined in such New York State court or, to the extent permitted by law, in such Federal court, (b)&#160;waives, to the fullest
      extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Commitment Letter or the transactions contemplated hereby or
      thereby in any New York State or in any such Federal court, (c)&#160;waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court and (d)&#160;agrees that a final
      judgment in any such suit, action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Each of the parties hereto agrees that service of process, summons, notice
      or document by registered mail addressed to Parent or MassMutual at the addresses set forth above shall be effective service of process for any suit, action or proceeding brought in any such court.</div>
    <div><br>
    </div>
    <div style="text-align: left;">MassMutual hereby notifies Parent that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L.&#160;107-56)&#160;(signed into law October&#160;26, 2001) (the &#8220;<font style="font-weight: bold;">PATRIOT Act</font>&#8221;) and
      the requirements of 31 C.F.R. &#167; 1010.230 (the &#8220;<font style="font-weight: bold;">Beneficial Ownership Regulation</font>&#8221;), MassMutual may be required to obtain, verify and record information that identifies the Issuer and its subsidiaries, which
      information may include their names, addresses, tax identification numbers and other information that will allow MassMutual to identify the Issuer and its subsidiaries in accordance with the PATRIOT Act or the Beneficial Ownership Regulation, as
      applicable. This notice is given in accordance with the requirements of the PATRIOT Act or the Beneficial Ownership Regulation, as applicable, and is effective for MassMutual.</div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" class="BRPFPageNumber">7</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-align: left;">The jurisdiction, governing law, venue, waiver of jury trial and confidentiality provisions contained herein shall remain in full force and effect regardless of whether the Preferred Equity shall have been issued and
      notwithstanding the termination or expiration of this Commitment Letter or MassMutual&#8217;s Commitment hereunder; <u>provided</u>, that Parent&#8217;s obligations under this Commitment Letter shall automatically terminate and be superseded by the provisions
      of the Preferred Equity Documentation (to the extent covered therein) upon the initial funding thereunder, and Parent shall automatically be released from all liability in connection therewith at such time.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Accredited Investor Status</u>. MassMutual represents that (a)&#160;it is, and HoldCo will be on the Closing Date, an &#8220;accredited investor&#8221; within the meaning of Regulation D, Rule 501(a),
      promulgated by the U.S. Securities and Exchange Commission under the Securities Act of 1933, as amended and (b)&#160;it is able to, and HoldCo will be able to on the Closing Date, fend for itself, can bear the economic risk of its purchase of the
      Preferred Equity, and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Preferred Equity.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Effectiveness; Expiration</u>. If the foregoing correctly sets forth the parties&#8217; agreement, please indicate Parent&#8217;s acceptance of the terms of this Commitment Letter by returning to
      MassMutual (or its legal counsel), executed counterparts hereof not later than 11:59 p.m., New York City time, on December 28, 2025. MassMutual&#8217;s Commitment and obligations hereunder will expire at such time in the event that MassMutual (or its legal
      counsel) have not received such executed counterparts in accordance with the immediately preceding sentence. If Parent does so execute and deliver to MassMutual this Commitment Letter at or prior to such time, MassMutual agrees to hold its Commitment
      and other undertakings in connection therewith available for Parent until the earliest of (i)&#160;after execution and delivery of the Acquisition Agreement and prior to the consummation of the Transactions, the valid termination of the Acquisition
      Agreement by Parent and/or Merger Sub or with Parent&#8217;s and/or Merger Sub&#8217;s written consent, in each case in accordance with its terms (other than with respect to provisions therein that expressly survive termination), (ii) the consummation of the
      Acquisition without the issuance by the Issuer of the Preferred Equity and (iii) 11:59 p.m., New York City time on the date that is five (5) business days after the Termination Date (such earliest time, the &#8220;<font style="font-weight: bold;">Expiration

        Date</font>&#8221;). Upon the occurrence of any of the events referred to in the preceding sentence, this Commitment Letter and the Commitment shall automatically terminate unless MassMutual shall, in its sole discretion, agree to an extension in
      writing. The termination of any Commitment pursuant to this paragraph will not prejudice Parent&#8217;s rights and remedies in respect of any breach or repudiation of this Commitment Letter.</div>
    <div><br>
    </div>
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    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="zc56a9abf32ff4d08bdcefecb56e5dc2f" style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); width: 100%;">

          <tr>
            <td rowspan="1" style="width: 48%;">&#160;</td>
            <td nowrap="nowrap" colspan="3" rowspan="1" style="font-weight: normal;">Sincerely,</td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 48%;">&#160;</td>
            <td nowrap="nowrap" colspan="3" rowspan="1" style="font-weight: bold;"><br>
            </td>
          </tr>
          <tr>
            <td style="width: 48%;">
              <div>&#160;</div>
            </td>
            <td nowrap="nowrap" colspan="3" rowspan="1" style="font-weight: bold;">
              <div>MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY</div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 48%;">&#160;</td>
            <td nowrap="nowrap" colspan="3" rowspan="1" style="font-weight: bold;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 48%; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 5%; padding-bottom: 2px;">
              <div>By: <br>
              </div>
            </td>
            <td style="width: 35%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>/s/ Eric Partlan</div>
            </td>
            <td style="width: 12%; padding-bottom: 2px;"><br>
            </td>
          </tr>
          <tr>
            <td style="width: 48%;">
              <div>&#160;</div>
            </td>
            <td colspan="3" rowspan="1" style="width: 5%;">
              <div>Name: Eric Partlan</div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 48%;">&#160;</td>
            <td colspan="3" rowspan="1" style="width: 5%;">Title: Chief Investment Officer</td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
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        <div><font style="font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">[Signature Page to Preferred Equity Commitment Letter] </font><br>
        </div>
      </div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <div style="text-align: left;">Agreed and accepted as of the date first written above:</div>
    <div> <br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" border="0" id="zba56902bd66549d5b83be558b038c130" style="font-family: 'Times New Roman'; font-size: 10pt; color: rgb(0, 0, 0); width: 100%;">

          <tr>
            <td colspan="2" rowspan="1">
              <div style="font-weight: bold;">JUPITER COMPANY LIMITED</div>
            </td>
            <td colspan="1" rowspan="1" style="width: 50%;"><br>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1">&#160;&#160;</td>
            <td colspan="1" rowspan="1" style="width: 50%;"><br>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 5%; padding-bottom: 2px;">
              <div>By:</div>
            </td>
            <td rowspan="1" style="width: 45%; border-bottom: 2px solid rgb(0, 0, 0);">/s/ Peter W. May<br>
            </td>
            <td colspan="1" rowspan="1" style="width: 50%; padding-bottom: 2px;"><br>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" colspan="2" rowspan="1">
              <div>Name: Peter W. May</div>
            </td>
            <td nowrap="nowrap" colspan="1" rowspan="1" style="width: 50%;"><br>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1">Title: Authorized Signatory</td>
            <td colspan="1" rowspan="1" style="width: 50%;"><br>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
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        <div><font style="font-weight: normal; color: rgb(0, 0, 0); font-style: normal; font-variant: normal; text-transform: none;">[Signature Page to Preferred Equity Commitment Letter] </font><br>
        </div>
      </div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
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    </div>
    <!--PROfilePageNumberReset%Num%1%A-%%-->
    <div style="font-weight: bold;"><u>Exhibit A</u></div>
    <div><br>
    </div>
    <div><u>Project Jupiter</u></div>
    <div><u>Preferred Equity Commitment Letter</u></div>
    <div><u>Transaction Description</u></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">Capitalized terms used but not otherwise defined in this <u>Exhibit A</u> shall have the meanings ascribed to such terms set forth in the other Exhibits to the Commitment Letter to which this <u>Exhibit

        A</u> is attached (the &#8220;<font style="font-weight: bold;">Commitment Letter</font>&#8221;) or in the debt commitment letter dated as of the date hereof (the &#8220;<font style="font-weight: bold;">Debt Commitment Letter</font>&#8221;). In the case of any such
      capitalized term that is subject to multiple and differing definitions, the appropriate meaning thereof in this <u>Exhibit A</u> shall be determined by reference to the context in which it used.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">Jupiter Topco LLC, a Jersey limited liability company (the &#8220;<font style="font-weight: bold;">Issuer</font>&#8221;), Jupiter Company Limited, a private limited company organized under the laws of Jersey (&#8220;<font style="font-weight: bold;">Parent</font>&#8221;), Jupiter Merger Sub Limited, a private limited company organized under the laws of Jersey (&#8220;<font style="font-weight: bold;">Merger Sub</font>&#8221;) and Jupiter Borrower, Inc., a Delaware corporation (&#8220;<font style="font-weight: bold;">Debt Merger Sub</font>&#8221;) were formed at the direction of Trian Fund Management, L.P., a Delaware limited partnership (&#8220;<font style="font-weight: bold;">Trian</font>&#8221;) and General Catalyst Group Management, LLC, a Delaware
      limited liability company (&#8220;<font style="font-weight: bold;">General Catalyst</font>&#8221; and, collectively with Trian and their respective funds, partnerships, co-investment entities and other investment vehicles managed, advised or controlled thereby
      or by one or more directors thereof and under common control therewith, the &#8220;<font style="font-weight: bold;">Sponsors</font>&#8221;). Pursuant to an Agreement and Plan of Merger, dated as of the date hereof (with such modifications, amendments, consents
      or waivers made in accordance with paragraph 2 of <u>Exhibit C</u> to the Commitment Letter and together with all exhibits and schedules thereto, the &#8220;<font style="font-weight: bold;">Acquisition Agreement</font>&#8221;), by and among Parent, Merger Sub
      and Janus Henderson Group plc (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;), Merger Sub will be merged with and into the Company (the &#8220;<font style="font-weight: bold;">Merger</font>&#8221;), with the Company being the surviving entity of the
      Merger (the &#8220;<font style="font-weight: bold;">Surviving Entity</font>&#8221;), whereby the Issuer, indirectly through Parent, will acquire the ordinary shares of the Company from the holders thereof (the &#8220;<font style="font-weight: bold;">Sellers</font>&#8221;),
      including those certain Sellers (including certain affiliates of Trian) who may be given the opportunity to retain, rollover or reinvest capital stock of the Company into capital stock or other interests in the Issuer or a beneficial owner thereof
      (the &#8220;<font style="font-weight: bold;">Rollover Investors</font>&#8221;). Other than the Sellers who are also Rollover Investors, the Sellers will receive cash (the &#8220;<font style="font-weight: bold;">Acquisition Consideration</font>&#8221;) in exchange for their
      capital stock in the Company. Immediately after giving effect to the Merger and the other Transactions, the Company will be a direct wholly-owned subsidiary of Parent and an indirect, wholly-owned subsidiary of the Issuer, which will be owned,
      directly or indirectly, by the Sponsors and the Rollover Investors. If the Acquisition is effected by Scheme of Arrangement (as defined in the Acquisition Agreement), all references to the &#8220;Merger&#8221; shall be deemed references to such Scheme of
      Arrangement.</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">In connection with the foregoing, it is intended that:</div>
    <div><br>
    </div>
    <div style="text-indent: 31.5pt; text-align: left;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Issuer will issue newly issued preference shares with an initial stated value of $1,000 per share (such shares, the &#8220;<font style="font-weight: bold;">Preferred Equity</font>&#8221;) and in
      an aggregate initial stated value of $1,000,000,000 (as may be adjusted in accordance with <u>Exhibit B</u>) (the issuance of the Preferred Equity, the &#8220;<font style="font-weight: bold;">Preferred Equity Issuance</font>&#8221;).</div>
    <div><br>
    </div>
    <div style="text-indent: 31.5pt; text-align: left;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Sponsors and certain other investors (including certain Rollover Investors and MassMutual) arranged by and/or designated by the Sponsors (collectively, the &#8220;<font style="font-weight: bold;">Investors</font>&#8221;) will, directly or indirectly (including through one or more holding companies), make cash equity contributions (including from the Preferred Equity Issuance) to Parent in an aggregate amount equal to, when combined with
      the fair market value of any capital stock or other equity interests of any Rollover Investors rolled over or reinvested in connection with the Transactions (as defined below), of $2.877&#160;billion (the &#8220;<font style="font-weight: bold;">Equity
        Contribution</font>&#8221;).</div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea"><font style="font-size: 8pt; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber">A-1</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
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    </div>
    <div style="text-indent: 31.5pt; text-align: left;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Debt Merger Sub will obtain or cause to be obtained (i) up to $2,600.0 million (plus, at Debt Merger Sub&#8217;s option pursuant to the terms of the Fee Letter, the amount of any Additional
      Flex Increase, each as defined in the Debt Commitment Letter) (less, if an Existing Senior Notes E&amp;R Election is made, the aggregate principal amount of any Existing Senior Notes that are outstanding as of the Closing Date and subject thereto)&#160;
      under a senior secured term loan B facility (the &#8220;<font style="font-weight: bold;">TLB Facility</font>&#8221;) described in the Debt Commitment Letter, (ii)&#160;up to $800.0&#160;million under a senior secured 270-day cash flow term loan facility (the &#8220;<font style="font-weight: bold;">Term Cash Flow Facility</font>&#8221;) described in the Debt Commitment Letter and (iii) up to $500.0 million under a senior secured revolving credit facility described in the Debt Commitment Letter (the &#8220;<font style="font-weight: bold;">Initial Revolver</font>&#8221; and, together with the TLB Facility and the Term Cash Flow Facility, the &#8220;<font style="font-weight: bold;">Facilities</font>&#8221;), in each case, on the closing date of the Acquisition.</div>
    <div><br>
    </div>
    <div style="text-indent: 31.5pt; text-align: left;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All amounts outstanding on the Closing Date (other than contingent obligations and letters of credit that are cash collateralized, backstopped or &#8220;grandfathered&#8221; as having been issued
      under the Initial Revolver) under that certain (i) Facility Agreement, dated as of June 30, 2023, by and among the Company, Janus Henderson US (Holdings) Inc., a Delaware corporation (&#8220;<font style="font-weight: bold;">JHG U.S. Topco</font>&#8221;), Bank of
      America Europe Designated Activity Company, an Irish designated activity company, as coordinator, bookrunner and mandated lead arranger and as facility agent, Citibank, N.A., as bookrunner and mandated lead arranger, BNP Paribas, London Branch,
      NatWest Markets plc, State Street Bank and Trust Company and Wells Fargo Bank, National Association, as mandated lead arrangers, the financial institutions listed on Schedule 1 thereto and the other lenders party thereto from time to time (as may be
      amended, restated, supplemented or otherwise modified from time to time, the &#8220;<font style="font-weight: bold;">Existing Credit Agreement</font>&#8221;) and (ii) unless an Existing Senior Notes E&amp;R Election is made as set forth in paragraph (e) below,
      the Senior Indenture, dated as of September 10, 2024, by and among JHG U.S. Topco, the Company, as guarantor, and The Bank of New York Mellon Trust Company, N.A., a New York banking corporation, as trustee (as may be amended, restated, supplemented
      or otherwise modified from time to time, the &#8220;<font style="font-weight: bold;">Existing Senior Notes Indenture</font>&#8221;; together with the Existing Credit Agreement, the &#8220;<font style="font-weight: bold;">Existing Debt Agreements</font>&#8221;) (including,
      in the case of the Existing Senior Notes, all amounts due pursuant to any Change of Control Offer (as defined in the Existing Senior Notes Indenture) and/or any premium or make-whole due in connection with any redemption other than pursuant to any
      Change of Control Offer, in each case, required under the Existing Senior Notes Indenture, including 101% of the aggregate principal amount of the 2034 Senior Notes validly tendered in such Change of Control Offer (the &#8220;<font style="font-weight: bold;">Existing Senior Notes</font>&#8221;), plus accrued and unpaid interest in respect thereof), will be repaid, redeemed, defeased, terminated or otherwise discharged (or notice for the repayment, redemption, defeasance, termination or discharge
      thereof will be given) (collectively, the &#8220;<font style="font-weight: bold;"><u>Refinancing</u></font>&#8221;). In connection with the Acquisition, Debt Merger Sub may directly or indirectly distribute, contribute or lend funds to the borrowers or issuers
      under such facilities or indebtedness in order to consummate the Refinancing, which loans may be forgiven, contributed or distributed at the Borrower&#8217;s discretion.</div>
    <div><br>
    </div>
    <div style="text-indent: 31.5pt; text-align: left;">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; On the Closing Date, so long as any of the Existing Senior Notes are outstanding on such date, Debt Merger Sub may, in its sole discretion, elect to (<u>i</u>)&#160;cause all or any portion of
      the Existing Senior Notes to be included in the Refinancing as set forth in clause (ii) of paragraph (d) above and/or (<u>ii</u>)&#160;cause all or the remaining portion of Existing Senior Notes to become secured equally and ratably (to the extent
      required by the Existing Senior Notes Indenture) with the TLB Facility (the election in this clause (ii), the &#8220;<font style="font-weight: bold;">Existing Senior Notes E&amp;R Election</font>&#8221;); <u>provided</u> that, Debt Merger Sub will notify the
      Lead Arrangers no later than one day prior to the commencement of the Marketing Period (as defined in the Debt Commitment Letter) if it is electing to make the Existing Senior Notes E&amp;R Election.</div>
    <div><br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea"><font style="font-size: 8pt; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber">A-2</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
    </div>
    <div style="text-indent: 31.5pt; text-align: left;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pursuant to an intercompany loan (the &#8220;<font style="font-weight: bold;">Intercompany Facility</font>&#8221;), Debt Merger Sub will on-lend to Parent an amount equal to (i) the net proceeds of
      the Facilities <font style="font-style: italic;">less</font> (ii) the amount of payments to be made by JHG U.S. Topco pursuant to the Refinancing (the &#8220;<font style="font-weight: bold;">Debt Proceeds Contribution Amount</font>&#8221;).&#160; Parent will then
      contribute the Debt Proceeds Contribution Amount to Merger Sub, and following the Merger, the Debt Proceeds Contribution Amount shall be used, together with, <font style="font-style: italic;">inter alia</font>, proceeds of the Equity Contribution
      (including the Preferred Equity Issuance) to consummate the acquisition of the Company&#8217;s equity interests from the Sellers.&#160; Following the funding of the Intercompany Facility and substantially concurrently with the consummation of the Merger, Debt
      Merger Sub will merge with and into JHG U.S. Topco (the &#8220;<font style="font-weight: bold;">Debt Merger</font>&#8221;), with JHG U.S. Topco surviving the Debt Merger as a wholly-owned subsidiary of the Surviving Entity (the &#8220;<font style="font-weight: bold;">Borrower</font>&#8221;).</div>
    <div><br>
    </div>
    <div style="text-indent: 31.5pt; text-align: left;">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The proceeds of the Equity Contribution (including the Preferred Equity Issuance), the Facilities and/or (if applicable) a portion of the cash on hand at the Company and its subsidiaries
      on the Closing Date will be used to pay (i) the Acquisition Consideration, (ii) the Refinancing and (iii) the fees, premiums and expenses incurred in connection with the Transactions (such fees, premiums and expenses, the &#8220;<font style="font-weight: bold;">Transaction Costs</font>&#8221;).</div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">The Transactions described above (including payment of the Transaction Costs) are collectively referred to herein as the &#8220;<font style="font-weight: bold;">Transactions</font>&#8221;. </div>
    <div style="text-indent: 31.5pt;"> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div class="BRPFPageNumberArea"><font style="font-size: 8pt; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber">A-3</font></div>
      <div style="page-break-after: always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0px; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); clear: both;"></div>
    </div>
    <font style="font-weight: bold;"> <u>Exhibit B </u></font></div>
  <div style="text-align: center;"><font style="font-weight: bold;"><u> </u></font><br>
    <div>[*****]</div>
    <div style="font-size: 12pt;"> <br>
    </div>
  </div>
  <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
    <div class="BRPFPageBreak" style="page-break-after: always;">
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  </div>
  <div style="text-align: center;"><font style="font-weight: bold;"><u><font style="font-weight: bold;"><u>Exhibit </u></font>C</u> </font><!--PROfilePageNumberReset%Num%1%B-%%-->
    <div><br>
    </div>
    <div><u>Project Jupiter</u></div>
    <div><u>Preferred Equity Commitment Letter</u></div>
    <div><u>Summary of Conditions<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></u></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt; text-align: left;">The purchase of the Preferred Equity shall be subject to the satisfaction or waiver by MassMutual of the following conditions:<a name="z_Ref28266210"></a></div>
    <div style="text-align: left;">&#160;</div>
    <div style="text-indent: 36pt; text-align: left;">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<a name="z_cp_text_1_64"></a>Since the date of the Acquisition Agreement, there has not been a Company Material Adverse Effect (as defined in the Acquisition Agreement) that would result in
      the failure of a condition precedent to Debt Merger Sub&#8217;s obligations to consummate the Acquisition under the Acquisition Agreement.</div>
    <div style="text-align: left;">&#160;</div>
    <div style="text-indent: 36pt; text-align: left;">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Acquisit<a name="Elor01O"></a><a name="Elos01O"></a>ion sh<a name="El2t01O"></a>all have been or, substantially concurrently with the purchase of the Preferred Equity sha<a name="El2z01O"></a>ll be, consummated in all material respects in accordance with the terms of the Acquisition Ag<a name="El2u01O"></a>reement, without giving effect to any modifications, amendments, express waivers or express consents thereunder
      by Debt Merger Sub that are<a name="El2v01O"></a> materially adverse to <a name="z_cp_text_1_4"></a>MassMutual (in its capacity as a purchaser of the Preferred Equity) withou<a name="El2w01O"></a>t the consent of <a name="El2x01O"></a>MassMutual
      (such consent not to be unreasonably withheld, conditioned or delayed<a name="z_cp_text_1_5"></a> and <font style="font-style: italic;">provided</font> that MassMutual shall be deemed to have consented to such modification, amendment, waiver or
      consent unless MassMutual shall object thereto within two business days after receipt of written notice of such modification, amendment, waiver or consent), it being understood and agreed that (<u>i</u>)&#160;any change<a name="Elo311O"></a> in the
      purchase price shall not be deemed to be materially adverse to MassMutual but (<u>x</u><a name="El2411O"></a>)&#160;any result<a name="Elo611O"></a>ing reduction in cash uses shall be allocated (<u>a</u>)&#160;first, to a reduction of the Equity Contribution
      to the level set forth in <a name="z_cp_text_1_6"></a>paragraph (a) in the Transaction Description, and (<u>b</u>)&#160;second, (<u>I</u>)&#160;65% to a reduction in <a name="El2f11O"></a>debt financing <a name="El2m11O"></a>and (<u>II</u>)&#160;35% to a
      reduction in the Equity Contribution and (<u>y</u>)&#160;any increa<a name="Eloo11O"></a>se in purchase price (excluding, for the avoidance of doubt, any purchase price adjustments in accordance with the terms of the Acquisition Ag<a name="El2p11O"></a>reement<a name="z_cp_text_1_27"></a>, with respect to which there shall be no limitation on source of funding) shall be funded (at Debt Merger Sub&#8217;s option) with the proceeds of an equity contribution<a name="z_cp_text_1_31"></a>, cash of the Target and its
      subsidiaries and/or <a name="El2q11O"></a>the proceeds of borrowings under the Borrower&#8217;s revolving credit facility and (<u>ii</u>)&#160;any modification, amendment, express <a name="z_cp_text_1_33"></a>waiver or express <a name="z_cp_text_1_35"></a>consent






      to the definition of &#8220;Company Material Adverse Effect&#8221; in the Acquisition Agreement that is adverse to you shall be deemed to be materially adverse to MassMutual (in its capacity as a purchaser of the Preferred Equity).</div>
    <div style="text-align: left;">&#160;</div>
    <div style="text-indent: 36pt; text-align: left;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Equity Contribution shall have been or, substantially concurrently with the issuance of the Preferred Equity shall be, consummated<a name="z_cp_text_2_49"></a>.&#160; The Refinancing shall
      have been, or substantially concurrently with the issuance of the Preferred Equity shall be, consummated.</div>
    <div style="text-align: left;">&#160;</div>
    <div style="text-indent: 36pt; text-align: left;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The borrowings under the Facilities to be funded on the Closing Date shall have been made, or will be made substantially concurrently with the issuance of the Preferred Equity.</div>
    <div style="text-align: left;">&#160;</div>
    <div>
      <div>
        <hr noshade="noshade" style="background-color: rgb(0, 0, 0); border-width: 0px; border-style: none; border-color: -moz-use-text-color; margin: 0px auto 0px 0px; height: 2px; width: 23%; color: rgb(0, 0, 0);">
        <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> <br>
          </sup></div>
        <div style="text-align: left;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>Capitalized terms used in this <u>Exhibit C</u> shall have the meanings set forth in the other Exhibits attached to the Commitment
          Letter to which this <u>Exhibit C</u> is attached (the &#8220;<font style="font-weight: bold;"><u>Commitment Letter</u></font>&#8221;). In the case of any such capitalized term that is subject to multiple and differing definitions, the appropriate meaning
          thereof in this <u>Exhibit C</u> shall be determined by reference to the context in which it is used.</div>
      </div>
    </div>
    <br>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageNumberArea"><font style="font-size: 8pt; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber">C-1</font></div>
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0);"></div>
    </div>
    <div style="text-indent: 36pt;">
      <div style="text-indent: 36pt; text-align: left;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; MassMutual shall have received, at least three Business Days (as defined in the Acquisition Agreement) prior to the Closing Date, all documentation and other information about the Issuer
        and its subsidiaries that is (<u>i</u>) (<u>x</u>) required by U.S. regulatory authorities under applicable &#8220;know your customer&#8221; and anti-money laundering rules and regulations, including, without limitation, the PATRIOT Act and the CDD Rule (which
        CDD Rule requirements shall be satisfied by delivering the LSTA form beneficial ownership certification) (such rules and regulations, the &#8220;<u>KYC Rules</u>&#8221;) and (<u>y</u>) set forth on the list of &#8220;know your customer&#8221; requirements delivered to you
        on or prior to the date hereof and (<u>ii</u>) all other documentation and other information about the Issuer and its subsidiaries that is (<u>x</u>)&#160;reasonably requested in writing at least ten Business Days (as defined in the Acquisition
        Agreement) prior to the Closing Date by MassMutual and (<u>y</u>)&#160;(<u>i</u>)&#160;required by U.S. regulatory authorities under the KYC Rules as a result of a change to the KYC Rules occurring after the date hereof, (<u>ii</u>) required as a result of
        the occurrence of any change in MassMutual&#8217;s circumstances, which change results in additional information being required under the KYC Rules, (<u>iii</u>)&#160;after MassMutual&#8217;s review of any information delivered pursuant to this paragraph 5,
        reasonably determined to be required under the KYC Rules or (<u>iv</u>)&#160;readily available and customarily delivered by portfolio company affiliates of (at your election) any Sponsor in the United States in connection with preferred equity
        financings. </div>
      <div style="text-indent: 36pt; text-align: left;">&#160;</div>
    </div>
    <div style="text-indent: 36pt; text-align: left;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <a name="z_Ref22897781"></a>(i) The execution and delivery of the Preferred Equity Documentation by the Issuer and MassMutual, which shall, in each case, be in accordance with the terms of
      the Commitment Letter and the Preferred Equity Term Sheet and (ii) the delivery to MassMutual of issuance notices, as applicable, customary incumbency certificates and closing certificates, organizational documents, customary evidence of
      authorization and, as applicable, good standing certificates in jurisdictions of formation/organization, in each case with respect to the Issuer and a solvency certificate of the Issuer, as of the Closing Date after and giving effect to the
      Transactions (substantially in the form delivered in connection with the Facilities) certified by a senior authorized financial officer of the Issuer).<a name="z_Ref22897791"></a></div>
    <div style="text-align: left;">&#160;</div>
    <div style="text-indent: 36pt; text-align: left;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; MassMutual shall have received (a) audited consolidated balance sheets and related consolidated statements of comprehensive income, consolidated statements of cash flows and consolidated
      statements of changes in equity <a name="z_cp_text_2_87"></a>of the Company for the two most recently completed fiscal years ended at least 90 days prior to the Closing Date and (b)&#160;unaudited condensed consolidated balance sheets and related
      unaudited condensed consolidated statements of comprehensive income, unaudited condensed consolidated statements of cash flows and unaudited condensed consolidated statements of changes in equity of the Company for any subsequent fiscal quarter and
      the portion of the fiscal year through the end of such quarter (other than, in each case, the fourth fiscal quarter of any fiscal year) ended at least 45 days prior to the Closing Date.&#160; <a name="El2j21O"></a>MassMutual hereby acknowledges receipt
      of (x)&#160;the financial statements referred to in the foregoing clause&#160;(a) for the fiscal years ended December 31, 2024 and December 31, 2023 and (y)&#160;the financial statements referred to in the foregoing clause (b) for the fiscal quarters ended
      September 30, 2025, June 30, 2025 and March 31, 2025.&#160; It is understood and agreed that the condition set forth in this paragraph 7, (x)&#160;may be satisfied by furnishing the applicable consolidated financial statements of the Company on Form 10-K or
      10-Q, as applicable, filed with the SEC, and (y)&#160;shall be deemed to have been delivered on the earliest date on which (i)&#160;the Company posts such documents, or provides a link thereto, on the Company&#8217;s website on the Internet or (ii)&#160;such financial
      statements and/or other documents are posted on the SEC&#8217;s website on the internet at www.sec.gov.</div>
    <div> <br>
    </div>
    <div> <br>
    </div>
    <div><font style="font-size: 8pt; color: rgb(0, 0, 0); font-weight: normal; font-style: normal;" class="BRPFPageNumber">C-2</font></div>
    <hr noshade="noshade" style="height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); margin-left: auto; margin-right: auto; border: medium none;"></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ef20061820_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge
         Document created using Broadridge PROfile 25.10.1.5333
         Copyright 1995 - 2025 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000;">
  <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
  <div>
    <div style="text-align: right; font-weight: bold;"> Exhibit 99.2<u><br>
      </u></div>
    <div style="text-align: center; font-weight: bold;"><u> <br>
      </u></div>
    <div style="text-align: center; font-weight: bold;"><u>SCHEDULE I</u></div>
    <div><br>
    </div>
    <div>The following sets forth the name and principal occupation of each of the officers and directors of MassMutual.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="ze178764746bb4ce1b42fcc200ea566e9" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="color: #000000; font-weight: bold;">Officers:</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="color: #000000; font-weight: bold;">Country of Citizenship:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Roger W. Crandall, Chairman, President and Chief Executive Officer</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Dominic L. Blue, Head of Third-Party Distribution and New Markets</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Susan M. Cicco, Chief of Staff to the CEO, Head of HR &amp; Employee Experience</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Geoffrey Craddock, Chief Risk Officer</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America &amp; United Kingdom</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Mary Jane Fortin, Chief Financial Officer</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Paul A. LaPiana, Head of Brand, Product and Affiliated Distribution</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Sears A. Merritt, Head of Technology and Experience</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Michael O'Connor, General Counsel</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Eric W. Partlan, Chief Investment Officer</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>P. John Rugel, Head of Operations</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Michael Freno, Chairman and Chief Executive Officer of Barings LLC</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="color: #000000; font-weight: bold;">Board of Directors:</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="color: #000000; font-weight: bold;">Country of Citizenship:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Roger W. Crandall</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Kathleen A. Corbet</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>James H. DeGraffenreidt, Jr.</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Isabella D. Goren</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America (through naturalization)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Bernard A. Harris, Jr.</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Michelle K. Lee</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Jeffrey M. Leiden, M.D., Ph.D.</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>David H. Long</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>Michael T. Rollings</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>United States of America</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>Laura J. Sen</div>
          </td>
          <td style="width: 50%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>United States of America</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <br>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>
      <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  </div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>4
<FILENAME>ef20061820_ex99-3.htm
<DESCRIPTION>EXHIBIT 99.3
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge
         Document created using Broadridge PROfile 25.10.1.5333
         Copyright 1995 - 2025 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman'; font-size: 9pt; text-align: left; color: rgb(0, 0, 0);">
  <div>
    <hr noshade="noshade" align="center" style="height: 4px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
  <div style="text-align: right;"><font style="font-weight: bold; font-size: 10pt;">Exhibit 99.3</font><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div>
    <div style="text-align: center; font-weight: bold;"><u>SCHEDULE II</u></div>
    <font style="font-size: 10pt;"> </font>
    <div style="font-size: 10pt;">&#160;</div>
    <font style="font-size: 10pt;"> </font>
    <div style="text-align: center; font-size: 10pt;">60-Day Transaction History</div>
    <font style="font-size: 10pt;"> </font>
    <div style="font-size: 10pt;">&#160;</div>
    <font style="font-size: 10pt;"> </font>
    <div style="text-indent: 36pt; font-size: 10pt;">The following transactions were effected during the past 60 days by funds registered under the Investment Company Act of 1940 that are sub-advised by non-affiliated sub-advisers of MassMutual and which
      such sub-advisory agreement may be terminated by MassMutual within 60 days:</div>
    <font style="font-size: 10pt;"> </font>
    <div style="font-size: 10pt;">&#160;</div>
    <font style="font-size: 10pt;"> </font>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 33.31%; vertical-align: bottom; background-color: rgb(189, 215, 238); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Trade Date</div>
          </td>
          <td style="width: 34%; vertical-align: bottom; background-color: rgb(189, 215, 238); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Shares Purchased/(Sold)</div>
          </td>
          <td style="width: 33.34%; vertical-align: bottom; background-color: rgb(189, 215, 238); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
            <div style="color: rgb(0, 0, 0); font-weight: bold;">Weighted Average Price</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/23/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;(72)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$41.040417</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/23/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;577</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$41.080000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/23/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;577</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$41.080000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/23/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;(577)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$41.080000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/27/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;(15)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$49.070000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/27/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;(15)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$49.070000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/29/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;(577)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$44.720000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/23/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;(577)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$41.080000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/23/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;577</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$41.080000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/23/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;(577)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$41.080000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/23/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;577</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$41.080000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/29/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;(577)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$44.720000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>10/23/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;577</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$41.080000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>11/10/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;32</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$43.480000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>11/12/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;30</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$44.640000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>11/14/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;(74)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$43.220000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>11/17/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;10</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$42.354000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>11/20/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;(2)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$43.155000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>11/20/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;7</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$43.155714</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>11/20/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;(5)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$43.156000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>12/5/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;11</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$44.900000</div>
          </td>
        </tr>
        <tr>
          <td style="width: 33.31%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>12/11/2025</div>
          </td>
          <td style="width: 34%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
            <div>&#160;(2)</div>
          </td>
          <td style="width: 33.34%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div>&#160;$46.225000</div>
          </td>
        </tr>

    </table>
    <font style="font-size: 10pt;"> </font>
    <div style="text-indent: 36pt; font-size: 10pt;">The above transactions were effected on the open market.</div>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
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    <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
