<SEC-DOCUMENT>0001717734-21-000073.txt : 20210226
<SEC-HEADER>0001717734-21-000073.hdr.sgml : 20210226
<ACCEPTANCE-DATETIME>20210226133927
ACCESSION NUMBER:		0001717734-21-000073
CONFORMED SUBMISSION TYPE:	N-CSR
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20201231
FILED AS OF DATE:		20210226
DATE AS OF CHANGE:		20210226
EFFECTIVENESS DATE:		20210226

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEMPLETON GLOBAL INCOME FUND
		CENTRAL INDEX KEY:			0000828803
		IRS NUMBER:				222864496
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-CSR
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05459
		FILM NUMBER:		21686909

	BUSINESS ADDRESS:	
		STREET 1:		300 S.E. 2ND STREET
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301-1923
		BUSINESS PHONE:		9545277500

	MAIL ADDRESS:	
		STREET 1:		300 S.E. 2ND STREET
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301-1923

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TEMPLETON GLOBAL INCOME FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSR
<SEQUENCE>1
<FILENAME>primary-document.htm
<TEXT>
<html><head></head><body><div style="position: relative;page: WordSection1">

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
Washington, DC 20549</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">FORM N-CSR</div></b></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Investment
Company Act file number <u>811-05459</u></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><u><div style="font-size: 10.0pt;display: inline;"><div style="text-decoration: none;display: inline;">&#160;</div></div></u></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><u><div style="font-size: 10.0pt;display: inline;">Templeton Global Income Fund</div></u></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(Exact name of registrant as specified in charter)</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><u><div style="font-size: 10.0pt;display: inline;"><div style="text-decoration: none;display: inline;">&#160;</div></div></u></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><u><div style="font-size: 10.0pt;display: inline;">300 S.E. 2<sup>nd</sup> Street, Fort Lauderdale, FL
33301-1923</div></u><div style="font-size: 10.0pt;display: inline;"><br>
(Address of principal executive offices)&#160;&#160; (Zip code)</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><u><div style="font-size: 10.0pt;display: inline;">Craig S. Tyle, One Franklin Parkway, San Mateo, CA&#160;
94403-1906</div></u></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(Name and address of agent for service)</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Registrant's telephone number, including area code: <u>(954)
527-7500</u>_ </div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Date of fiscal year end: _<u>12/31</u>__</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Date of reporting period: <u>&#160;12/31/20
&#160;</u>&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 1. Reports to
Stockholders.</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-indent: -22.5pt;margin-right: 0in;margin-left: 22.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">a.)<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;
</div></div><div style="font-size: 10.0pt;display: inline;">The following is a copy of the
report transmitted to shareholders pursuant to Rule30e-1 under the Investment
Company Act of 1940, as amended (the &#8220;1940 Act&#8221;) (17 CFR 270.30e-1.)<br>
<br>
<br>
</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-indent: -22.5pt;margin-right: 0in;margin-left: 22.5pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">b.)<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160; </div></div><div style="font-size: 10.0pt;display: inline;">A copy of the notice transmitted to shareholders in
reliance on Rule 30e-3 under the 1940 Act that contains disclosures specified
by paragraph (c)(3) of that rule is included in the Annual Report. Not
Applicable.</div></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

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		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAfIAAAA8CAYAAACdBDigAAAACXBIWXMAABcRAAAXEQHKJvM/AAABGElEQVR4Xu3VMRGAABADwZeGaCTgAykPDmi5mS02Vfqb3R0AoOnzAAD815zXfQAATfPOAgBNQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhQg4AYUIOAGFCDgBhswsAVH0eAID/egDQgUxKMkJuFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:29px;left:72px;position:absolute;top:98px;width:239px">
			<div style="width:4781px;height:540px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="color:#004a97;font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;text-transform:uppercase;position:absolute;top:170.44px;left:288px;letter-spacing:-0.4px;white-space:nowrap">Annual </div><div style="color:#004a97;font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;text-transform:uppercase;position:absolute;top:170.44px;left:1022.77px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:248px;left:100px;position:absolute;top:140px;width:334px">
			<div style="width:6698px;height:4676px;position:absolute;top:13.57px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:530px;font-weight:bold;text-transform:uppercase;position:absolute;top:-88.3px;left:0px;letter-spacing:-0.93px;white-space:nowrap">Templeton </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:530px;font-weight:bold;text-transform:uppercase;position:absolute;top:-88.3px;left:3478.54px;letter-spacing:-1.34px;white-space:nowrap">Global </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:530px;font-weight:bold;text-transform:uppercase;position:absolute;top:611.7px;left:0px;white-space:nowrap">Income </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:530px;font-weight:bold;text-transform:uppercase;position:absolute;top:611.7px;left:2315.16px;white-space:nowrap">Fund</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:220px;position:absolute;top:2074.23px;left:0px;white-space:nowrap">December </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:220px;position:absolute;top:2074.23px;left:1075.94px;white-space:nowrap">31, </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:220px;position:absolute;top:2074.23px;left:1442.89px;white-space:nowrap">2020</div></div>
		</div>
		<div style="background-color:transparent;height:9px;left:46px;position:absolute;top:454px;width:26px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAGwAAAAkCAYAAABsbd/MAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAeElEQVRoQ+3KMQ0AMAzAsOIbwcHdIORNpRz+PHPuyyIY4oIhLhjigiEuGOKCIS4Y4oIhLhjigiEuGOKCIS4Y4oIhLhjigiEuGOKCIS4Y4oIhLhjigiEuGOKCIS4Y4oIhLhjigiEuGOKCIS4Y4oIhLhjigiEuGKLyAWUge6W4W6oXAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-color:transparent;height:26px;left:64px;position:absolute;top:454px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAABsCAYAAAACCxCZAAAACXBIWXMAAC4jAAAuIwF4pT92AAAA50lEQVRoQ83KMREAIAwAserDIHKLhN9yDNkyc+5+JYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcugZdAyaBm0DFoGLYOWQcuAPcl3e6V1/h7kAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:245.52px;white-space:nowrap">Not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:564.27px;white-space:nowrap">FDIC </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:992.39px;white-space:nowrap">Insured </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:1812.8px;white-space:nowrap">May </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:2177.45px;white-space:nowrap">Lose </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:2605.87px;letter-spacing:-1.5px;white-space:nowrap">Value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:3262.51px;white-space:nowrap">No </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:3526.67px;white-space:nowrap">Bank </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:75.44px;left:3973.25px;white-space:nowrap">Guarantee</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5653.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report </div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-variant:small-caps;position:absolute;top:121.31px;left:644.15px;white-space:nowrap">1</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:360px;position:absolute;top:-42.71px;left:0px;white-space:nowrap">Contents</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:595.69px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:595.69px;left:659.97px;white-space:nowrap">Report</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:0px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:880.49px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:1450.81px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:2091.09px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:851.69px;left:4759.89px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1107.69px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1107.69px;left:1080.44px;white-space:nowrap">Summary</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1107.69px;left:4759.89px;white-space:nowrap">6</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:0px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:770.36px;white-space:nowrap">Highlights </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:1610.77px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:1961.1px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:2831.57px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:3031.7px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1363.69px;left:4759.89px;white-space:nowrap">8</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1619.69px;left:0px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1619.69px;left:770.36px;white-space:nowrap">Statements</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1619.69px;left:4659.79px;white-space:nowrap">24</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1875.69px;left:0px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1875.69px;left:520.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1875.69px;left:720.35px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1875.69px;left:1490.71px;white-space:nowrap">Statements</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1875.69px;left:4659.79px;white-space:nowrap">27</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2131.69px;left:0px;white-space:nowrap">Report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2131.69px;left:590.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2131.69px;left:790.4px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2131.69px;left:1841.4px;white-space:nowrap">Registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2347.69px;left:0px;white-space:nowrap">Public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2347.69px;left:530.33px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2347.69px;left:1470.94px;white-space:nowrap">Firm</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2347.69px;left:4659.79px;white-space:nowrap">39</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2603.69px;left:0px;letter-spacing:-4.99px;white-space:nowrap">Tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2603.69px;left:330.12px;white-space:nowrap">Information</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2603.69px;left:4659.79px;white-space:nowrap">40</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2859.69px;left:0px;white-space:nowrap">Important </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2859.69px;left:810.35px;white-space:nowrap">Information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2859.69px;left:1760.8px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2859.69px;left:1960.93px;white-space:nowrap">Shareholders</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2859.69px;left:4659.79px;white-space:nowrap">41</div><div style="font-family:Arial, 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			<div style="width:10080px;height:13896px;position:absolute;top:8.62px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


























			<div style="font-family:Arial, Helvetica, sans-serif;font-size:325px;font-weight:bold;text-transform:uppercase;position:absolute;top:-53.52px;left:0px;letter-spacing:-0.94px;white-space:nowrap">ANNUAL</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:325px;font-weight:bold;text-transform:uppercase;position:absolute;top:-53.52px;left:1469.53px;white-space:nowrap">REPORT</div><div style="font-family:Arial, sans-serif;font-size:380px;position:absolute;top:795.07px;left:0px;letter-spacing:-4.21px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:380px;position:absolute;top:795.07px;left:1858.81px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:380px;position:absolute;top:795.07px;left:3062.82px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:380px;position:absolute;top:795.07px;left:4414.53px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1560.01px;left:0px;white-space:nowrap">Dear </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1560.01px;left:440.16px;white-space:nowrap">Shareholder:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:0px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:390.06px;white-space:nowrap">annual</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:980.6px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:1500.82px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:1757.64px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:2638.13px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:3208.45px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:3848.73px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1990.01px;left:4309.01px;white-space:nowrap">covers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:300.23px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:760.34px;white-space:nowrap">year</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:1160.51px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:1711.05px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:2591.37px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:2891.6px;white-space:nowrap">2020</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2240.01px;left:3292.03px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:2816.27px;left:0px;letter-spacing:-4.77px;white-space:nowrap">Your </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:2816.27px;left:597.57px;letter-spacing:-0.67px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:2816.27px;left:1445.49px;white-space:nowrap">Goal </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:2816.27px;left:2066.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:2816.27px;left:2572.96px;white-space:nowrap">Main </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:2816.27px;left:3208.74px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:820.46px;white-space:nowrap">seeks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:1340.68px;white-space:nowrap">high, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:1781.02px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:2391.24px;white-space:nowrap">income, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:3071.51px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:3441.62px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:3591.74px;white-space:nowrap">secondary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3191.61px;left:4472.23px;white-space:nowrap">goal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:200.13px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:770.45px;white-space:nowrap">appreciation. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:1851.15px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:2391.42px;white-space:nowrap">normal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:2991.62px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3441.61px;left:3591.74px;white-space:nowrap">conditions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:300.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:760.52px;white-space:nowrap">invests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:1370.74px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:1570.87px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:2001.09px;white-space:nowrap">80% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:2411.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:2611.49px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:2841.5px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:3141.74px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:3711.97px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3691.61px;left:3902.08px;white-space:nowrap">income-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:0px;white-space:nowrap">producing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:840.59px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:1700.86px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:2461.38px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:2861.72px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:3671.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:3872.11px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3941.61px;left:4272.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:0px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:600.38px;white-space:nowrap">issuers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:1270.55px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:2031.06px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:2831.48px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:3571.61px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4191.61px;left:3891.62px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:500.36px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:1087.38px;white-space:nowrap">80% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:1497.66px;letter-spacing:-1.67px;white-space:nowrap">policy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:2044.51px;white-space:nowrap">income-producing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4441.61px;left:3525.29px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:0px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:620.42px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:1440.79px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:2421.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:2631.18px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:3091.46px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:4101.86px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4691.61px;left:4452.1px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4941.61px;left:0px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4941.61px;left:820.37px;white-space:nowrap">characteristics </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4941.61px;left:2020.69px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4941.61px;left:2590.66px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4941.61px;left:2790.79px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4941.61px;left:3221.02px;white-space:nowrap">securities.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7267.32px;left:0px;white-space:nowrap">*Includes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7267.32px;left:576.25px;white-space:nowrap">U.S. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7267.32px;left:867.89px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7267.32px;left:1123.28px;white-space:nowrap">foreign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7267.32px;left:1560.94px;white-space:nowrap">government </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7267.32px;left:2290.31px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7267.32px;left:2545.7px;white-space:nowrap">agency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7267.32px;left:3005.31px;white-space:nowrap">securities, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7267.32px;left:3632.5px;white-space:nowrap">money </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7267.32px;left:4062.81px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7267.32px;left:4500.31px;white-space:nowrap">funds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7447.32px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7447.32px;left:255.39px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7447.32px;left:590.94px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7447.32px;left:809.84px;white-space:nowrap">assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7447.32px;left:1225.63px;white-space:nowrap">(including </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:7447.32px;left:1823.67px;white-space:nowrap">derivatives).</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:7857.88px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:7857.88px;left:1560.63px;white-space:nowrap">Overview</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8233.21px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8233.21px;left:320.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8233.21px;left:620.24px;white-space:nowrap">12 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8233.21px;left:870.47px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8233.21px;left:1510.75px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8233.21px;left:2021.13px;letter-spacing:-1.24px;white-space:nowrap">review, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8233.21px;left:2631.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8233.21px;left:2931.59px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8233.21px;left:3391.88px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8233.21px;left:3982.32px;white-space:nowrap">cumulative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8483.21px;left:0px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8483.21px;left:390.23px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8483.21px;left:1000.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8483.21px;left:1200.59px;white-space:nowrap">-6.63% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8483.21px;left:1820.92px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8483.21px;left:2361.36px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8483.21px;left:2611.58px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8483.21px;left:3211.7px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8483.21px;left:3651.86px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8483.21px;left:4002.19px;white-space:nowrap">-6.56% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8733.21px;left:0px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8733.21px;left:540.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8733.21px;left:790.66px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8733.21px;left:1090.9px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8733.21px;left:1571.13px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8733.21px;left:2101.46px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8733.21px;left:2421.47px;white-space:nowrap">comparison, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8733.21px;left:3451.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8733.21px;left:3752.14px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8983.21px;left:0px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8983.21px;left:1000.55px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8983.21px;left:1450.99px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8983.21px;left:2101.11px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8983.21px;left:2341.23px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8983.21px;left:3191.66px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8983.21px;left:3431.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8983.21px;left:3732.01px;letter-spacing:-4.64px;white-space:nowrap">J.P. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8983.21px;left:4068.9px;white-space:nowrap">Morgan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9233.21px;left:0px;white-space:nowrap">(JPM) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9233.21px;left:529.89px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9233.21px;left:1100.21px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9233.21px;left:2140.66px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9233.21px;left:2611.05px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9233.21px;left:3101.4px;white-space:nowrap">(GGBI), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9233.21px;left:3771.39px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9483.21px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9483.21px;left:150.12px;white-space:nowrap">cumulative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9483.21px;left:1060.49px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9483.21px;left:1450.72px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9483.21px;left:1970.95px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9483.21px;left:2171.07px;white-space:nowrap">+9.68% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9483.21px;left:2836.58px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9483.21px;left:3026.69px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9483.21px;left:3426.77px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9483.21px;left:3917.02px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9733.21px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9733.21px;left:260.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9733.21px;left:560.3px;white-space:nowrap">same </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9733.21px;left:1050.47px;white-space:nowrap">period.</div><div style="font-family:Arial, sans-serif;font-size:104.9px;position:absolute;top:9736.82px;left:1600.84px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9733.21px;left:1705.96px;letter-spacing:-4.13px;white-space:nowrap">You </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9733.21px;left:2059.72px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9733.21px;left:2399.94px;text-rendering:optimizeLegibility;white-space:nowrap">find </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9733.21px;left:2740.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9733.21px;left:3040.4px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9733.21px;left:3627.42px;white-space:nowrap">long-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9983.21px;left:0px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9983.21px;left:1060.49px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9983.21px;left:1460.83px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9983.21px;left:1650.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9983.21px;left:1951.17px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9983.21px;left:3031.61px;white-space:nowrap">Summary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9983.21px;left:3851.72px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9983.21px;left:4101.94px;white-space:nowrap">page </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9983.21px;left:4552.38px;white-space:nowrap">6</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9983.21px;left:4652.49px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10413.21px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10413.21px;left:1080.44px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10413.21px;left:1480.78px;white-space:nowrap">represent </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10413.21px;left:2291.22px;white-space:nowrap">past </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10413.21px;left:2681.46px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10413.21px;left:3791.95px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10413.21px;left:4302.16px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10663.21px;left:0px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10663.21px;left:300.23px;white-space:nowrap">guarantee </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10663.21px;left:1160.95px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10663.21px;left:1671.24px;white-space:nowrap">results. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10663.21px;left:2301.42px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10663.21px;left:3231.83px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10663.21px;left:3752.05px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10663.21px;left:4102.38px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10913.21px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10913.21px;left:480.32px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10913.21px;left:780.29px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuate, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10913.21px;left:1560.76px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10913.21px;left:1911.09px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10913.21px;left:2251.32px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10913.21px;left:2641.38px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10913.21px;left:3081.71px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10913.21px;left:3231.83px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10913.21px;left:3622.15px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10913.21px;left:3832.21px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:10913.21px;left:4202.31px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11163.21px;left:0px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11163.21px;left:340.22px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11163.21px;left:660.32px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11163.21px;left:1060.49px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11163.21px;left:1700.77px;white-space:nowrap">Current </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11163.21px;left:2350.99px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11163.21px;left:3411.47px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11163.21px;left:3801.53px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11163.21px;left:4251.71px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11413.21px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">figures </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:11413.21px;left:590.27px;white-space:nowrap">shown.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1562.27px;left:5220px;white-space:nowrap">Economic </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1562.27px;left:6433.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1562.27px;left:6939.83px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1562.27px;left:7806.67px;white-space:nowrap">Overview</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1937.61px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1937.61px;left:5580.18px;white-space:nowrap">12-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1937.61px;left:6390.62px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1937.61px;left:6940.99px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1937.61px;left:7491.53px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1937.61px;left:8371.85px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1937.61px;left:8672.08px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1937.61px;left:9172.53px;white-space:nowrap">started </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2187.61px;left:5220px;letter-spacing:-0.83px;white-space:nowrap">optimistically, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2187.61px;left:6326.89px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2187.61px;left:6567.01px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2187.61px;left:6717.13px;white-space:nowrap">phase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2187.61px;left:7257.57px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2187.61px;left:7607.9px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2187.61px;left:8068.18px;white-space:nowrap">deal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2187.61px;left:8458.51px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2187.61px;left:9189.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2187.61px;left:9489.29px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2437.61px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2437.61px;left:5570.33px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2437.61px;left:6090.64px;white-space:nowrap">appeared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2437.61px;left:6901.35px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2437.61px;left:7101.47px;white-space:nowrap">bolster </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2437.61px;left:7691.75px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2437.61px;left:8291.87px;white-space:nowrap">sentiment, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2437.61px;left:9172.27px;white-space:nowrap">driving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2437.61px;left:9752.52px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2687.61px;left:5220px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2687.61px;left:5700.23px;white-space:nowrap">valuations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2687.61px;left:6560.77px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2687.61px;left:7111.14px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2687.61px;left:7301.25px;white-space:nowrap">several </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2687.61px;left:7931.51px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2687.61px;left:8621.63px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2687.61px;left:9201.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2687.61px;left:9502.03px;white-space:nowrap">globe. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2937.61px;left:5220px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2937.61px;left:6020.33px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2937.61px;left:6880.87px;white-space:nowrap">changed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2937.61px;left:7621.52px;white-space:nowrap">radically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2937.61px;left:8331.77px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2937.61px;left:8682.1px;white-space:nowrap">rapidly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2937.61px;left:9262.35px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2937.61px;left:9502.47px;white-space:nowrap">late </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3187.61px;left:5220px;letter-spacing:-1.34px;white-space:nowrap">February, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3187.61px;left:6026.92px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3187.61px;left:6267.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3187.61px;left:6567.28px;white-space:nowrap">novel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3187.61px;left:7047.6px;white-space:nowrap">coronavirus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3187.61px;left:8028.02px;white-space:nowrap">(COVID-19) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3187.61px;left:9028.13px;white-space:nowrap">pandemic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3437.61px;left:5220px;white-space:nowrap">upended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3437.61px;left:5970.76px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3437.61px;left:6891.24px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3437.61px;left:7241.57px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3437.61px;left:7951.99px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3437.61px;left:8642.11px;white-space:nowrap">around </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3437.61px;left:9252.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3437.61px;left:9552.83px;white-space:nowrap">world. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3687.61px;left:5220px;white-space:nowrap">Lockdown </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3687.61px;left:6080.54px;white-space:nowrap">orders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3687.61px;left:6640.75px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3687.61px;left:7050.76px;white-space:nowrap">governments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3687.61px;left:8141.31px;white-space:nowrap">trying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3687.61px;left:8631.47px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3687.61px;left:8831.6px;text-rendering:optimizeLegibility;white-space:nowrap">&#8220;flatten </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3687.61px;left:9431.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3937.61px;left:5220px;white-space:nowrap">curve&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3937.61px;left:5770.11px;white-space:nowrap">(i.e., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3937.61px;left:6170.19px;white-space:nowrap">stem </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3937.61px;left:6610.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3937.61px;left:6910.49px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3937.61px;left:7270.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3937.61px;left:7470.79px;white-space:nowrap">infection) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3937.61px;left:8251.17px;white-space:nowrap">ultimately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3937.61px;left:9061.44px;white-space:nowrap">brought </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4187.61px;left:5220px;white-space:nowrap">entire </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4187.61px;left:5720.27px;white-space:nowrap">countries, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4187.61px;left:6550.66px;white-space:nowrap">regions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4187.61px;left:7191.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4187.61px;left:7541.37px;white-space:nowrap">continents </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4187.61px;left:8411.92px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4187.61px;left:8612.05px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4187.61px;left:8862.28px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4437.61px;left:5220px;white-space:nowrap">standstill </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4437.61px;left:5970.32px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4437.61px;left:6160.43px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4437.61px;left:6710.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4437.61px;left:7050.94px;white-space:nowrap">April. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4437.61px;left:7507.79px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4437.61px;left:7867.97px;white-space:nowrap">speed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4437.61px;left:8408.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4437.61px;left:8758.74px;white-space:nowrap">pervasiveness </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4687.61px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4687.61px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4687.61px;left:5720.36px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4687.61px;left:6540.73px;white-space:nowrap">shocks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4687.61px;left:7150.96px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4687.61px;left:7591.11px;white-space:nowrap">unprecedented. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4687.61px;left:8888.91px;white-space:nowrap">There </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4687.61px;left:9409.13px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4937.61px;left:5220px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4937.61px;left:5470.22px;white-space:nowrap">historical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4937.61px;left:6230.48px;white-space:nowrap">comparison </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4937.61px;left:7210.9px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4937.61px;left:7470.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4937.61px;left:7771.2px;white-space:nowrap">magnitude </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4937.61px;left:8661.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4937.61px;left:8861.92px;white-space:nowrap">aggregate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5187.61px;left:5220px;white-space:nowrap">demand </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5187.61px;left:5920.49px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5187.61px;left:6270.73px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5187.61px;left:6640.84px;white-space:nowrap">destroyed, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5187.61px;left:7531.35px;white-space:nowrap">nor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5187.61px;left:7841.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5187.61px;left:8141.75px;white-space:nowrap">magnitude </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5187.61px;left:9032.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5187.61px;left:9232.47px;white-space:nowrap">job </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5187.61px;left:9522.69px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5437.61px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5437.61px;left:5410.11px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5437.61px;left:5840.33px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5437.61px;left:5990.45px;white-space:nowrap">compressed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5437.61px;left:7020.88px;white-space:nowrap">timescale.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5867.61px;left:5220px;white-space:nowrap">Risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5867.61px;left:5619.99px;white-space:nowrap">aversion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5867.61px;left:6350.36px;white-space:nowrap">rapidly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5867.61px;left:6930.62px;white-space:nowrap">escalated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5867.61px;left:7751.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5867.61px;left:7951.29px;white-space:nowrap">crisis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5867.61px;left:8411.22px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5867.61px;left:8921.43px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5867.61px;left:9271.76px;white-space:nowrap">deepened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6117.61px;left:5220px;white-space:nowrap">throughout </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6117.61px;left:6130.72px;white-space:nowrap">March, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6117.61px;left:6730.84px;white-space:nowrap">driving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6117.61px;left:7311.09px;white-space:nowrap">correlations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6117.61px;left:8291.51px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6117.61px;left:8491.64px;white-space:nowrap">1.0 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6117.61px;left:8791.88px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6367.61px;left:5220px;white-space:nowrap">multiple </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6367.61px;left:5890.25px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6367.61px;left:6370.49px;white-space:nowrap">classes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6367.61px;left:7020.7px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6367.61px;left:7260.82px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6367.61px;left:8031.09px;white-space:nowrap">shed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6367.61px;left:8471.43px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6367.61px;left:8801.37px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6367.61px;left:9151.7px;white-space:nowrap">moved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6617.61px;left:5220px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6617.61px;left:5560.22px;white-space:nowrap">perceived </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6617.61px;left:6390.7px;white-space:nowrap">safe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6617.61px;left:6780.94px;white-space:nowrap">havens. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6617.61px;left:7461.39px;white-space:nowrap">Credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6617.61px;left:7991.54px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6617.61px;left:8681.66px;white-space:nowrap">experienced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6867.61px;left:5220px;white-space:nowrap">substantial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6867.61px;left:6130.55px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6867.61px;left:6570.7px;letter-spacing:-1.11px;white-space:nowrap">volatility, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6867.61px;left:7297.56px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6867.61px;left:7667.67px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6867.61px;left:7967.9px;white-space:nowrap">lower-rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6867.61px;left:8918.26px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6867.61px;left:9408.43px;white-space:nowrap">tiers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7117.61px;left:5220px;white-space:nowrap">bearing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7117.61px;left:5870.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7117.61px;left:6170.71px;white-space:nowrap">brunt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7117.61px;left:6631px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7117.61px;left:6831.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7117.61px;left:7131.36px;letter-spacing:-0.33px;white-space:nowrap">selloffs. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7117.61px;left:7785.09px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7117.61px;left:8145.26px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7117.61px;left:8545.34px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7117.61px;left:9205.66px;white-space:nowrap">Reserve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7367.61px;left:5220px;white-space:nowrap">(Fed) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7367.61px;left:5700.06px;white-space:nowrap">responded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7367.61px;left:6600.76px;white-space:nowrap">quickly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7367.61px;left:7200.97px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7367.61px;left:7401.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7367.61px;left:7701.33px;white-space:nowrap">deepening </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7367.61px;left:8592.19px;white-space:nowrap">crisis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7367.61px;left:9052.12px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7367.61px;left:9422.23px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7617.61px;left:5220px;white-space:nowrap">emergency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7617.61px;left:6160.43px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7617.61px;left:6520.61px;white-space:nowrap">cuts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7617.61px;left:6900.73px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7617.61px;left:7090.84px;white-space:nowrap">March, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7617.61px;left:7690.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7617.61px;left:7991.19px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7617.61px;left:8621.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7617.61px;left:8821.76px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7617.61px;left:9331.96px;white-space:nowrap">dropped </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7867.61px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7867.61px;left:5520.23px;white-space:nowrap">federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7867.61px;left:6120.62px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7867.61px;left:6610.96px;white-space:nowrap">target </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7867.61px;left:7121.25px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7867.61px;left:7481.43px;white-space:nowrap">100 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7867.61px;left:7831.76px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7867.61px;left:8301.97px;white-space:nowrap">points </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7867.61px;left:8832.3px;white-space:nowrap">(bps) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7867.61px;left:9292.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7867.61px;left:9492.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8117.61px;left:5220px;white-space:nowrap">zero </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8117.61px;left:5620.17px;white-space:nowrap">bound </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8117.61px;left:6170.71px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8117.61px;left:6520.96px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8117.61px;left:6891.06px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8117.61px;left:7331.4px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8117.61px;left:7881.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8117.61px;left:8182px;white-space:nowrap">2008 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8117.61px;left:8632.44px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8117.61px;left:9162.86px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8367.61px;left:5220px;white-space:nowrap">crisis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8367.61px;left:5679.93px;white-space:nowrap">(GFC). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8367.61px;left:6276.53px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8367.61px;left:6636.71px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8367.61px;left:6996.88px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8367.61px;left:7377.1px;white-space:nowrap">cut </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8367.61px;left:7667.23px;white-space:nowrap">reserve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8367.61px;left:8317.44px;white-space:nowrap">requirements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8367.61px;left:9417.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8617.61px;left:5220px;white-space:nowrap">encouraged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8617.61px;left:6220.81px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8617.61px;left:6931.23px;white-space:nowrap">institutions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8617.61px;left:7831.67px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8617.61px;left:8031.8px;white-space:nowrap">borrow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8617.61px;left:8632px;white-space:nowrap">directly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8617.61px;left:9252.16px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8617.61px;left:9662.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8867.61px;left:5220px;white-space:nowrap">discount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8867.61px;left:5940.44px;letter-spacing:-1.42px;white-space:nowrap">window.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9297.61px;left:5220px;white-space:nowrap">Growing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9297.61px;left:5940.26px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9297.61px;left:6590.57px;white-space:nowrap">strains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9297.61px;left:7170.73px;white-space:nowrap">throughout </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9297.61px;left:8081.46px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9297.61px;left:8791.88px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9297.61px;left:9481.99px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9547.61px;left:5220px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9547.61px;left:5770.11px;white-space:nowrap">prompted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9547.61px;left:6580.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9547.61px;left:6880.78px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9547.61px;left:7240.96px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9547.61px;left:7441.08px;white-space:nowrap">restart </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9547.61px;left:8001.21px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9547.61px;left:8651.51px;white-space:nowrap">programs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9547.61px;left:9461.78px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9797.61px;left:5220px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9797.61px;left:5570.33px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9797.61px;left:6020.77px;white-space:nowrap">created </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9797.61px;left:6671.16px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9797.61px;left:7221.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9797.61px;left:7521.77px;white-space:nowrap">GFC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9797.61px;left:8001.74px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9797.61px;left:8431.96px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9797.61px;left:8672.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9797.61px;left:8972.31px;white-space:nowrap">Commercial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10047.61px;left:5220px;white-space:nowrap">Paper </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10047.61px;left:5750.33px;white-space:nowrap">Funding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10047.61px;left:6450.82px;white-space:nowrap">Facility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10047.61px;left:7060.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10047.61px;left:7411.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10047.61px;left:7711.44px;white-space:nowrap">Primary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10047.61px;left:8381.43px;white-space:nowrap">Dealer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10047.61px;left:8961.68px;white-space:nowrap">Credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10297.61px;left:5220px;letter-spacing:-1.34px;white-space:nowrap">Facility. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10297.61px;left:5866.7px;white-space:nowrap">On </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10297.61px;left:6156.83px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10297.61px;left:6706.93px;white-space:nowrap">23, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10297.61px;left:7007.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10297.61px;left:7307.4px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10297.61px;left:7667.58px;white-space:nowrap">took </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10297.61px;left:8057.81px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10297.61px;left:8287.82px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10297.61px;left:8998.24px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10547.61px;left:5220px;white-space:nowrap">interventions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10547.61px;left:6290.6px;white-space:nowrap">beyond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10547.61px;left:6931.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10547.61px;left:7231.38px;white-space:nowrap">scope </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10547.61px;left:7761.71px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10547.61px;left:7961.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10547.61px;left:8262.07px;white-space:nowrap">GFC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10547.61px;left:8692.03px;white-space:nowrap">programs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10547.61px;left:9502.29px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10797.61px;left:5220px;white-space:nowrap">creating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10797.61px;left:5910.38px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10797.61px;left:6720.82px;white-space:nowrap">lending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10797.61px;left:7351.35px;white-space:nowrap">programs, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10797.61px;left:8211.62px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10797.61px;left:8561.95px;white-space:nowrap">announcing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10797.61px;left:9542.81px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11047.61px;left:5220px;white-space:nowrap">intentions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11047.61px;left:6040.55px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11047.61px;left:6240.67px;white-space:nowrap">support </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11047.61px;left:6891.06px;white-space:nowrap">lending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11047.61px;left:7521.59px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11047.61px;left:7721.72px;white-space:nowrap">small- </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11047.61px;left:8251.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11047.61px;left:8602.03px;white-space:nowrap">medium-sized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11297.61px;left:5220px;white-space:nowrap">businesses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11297.61px;left:6170.54px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11297.61px;left:6831.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11297.61px;left:7131.27px;white-space:nowrap">newly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11297.61px;left:7641.47px;white-space:nowrap">created </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11297.61px;left:8291.87px;white-space:nowrap">Main </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11297.61px;left:8732.02px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11297.61px;left:9262.27px;white-space:nowrap">Business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11547.61px;left:5220px;white-space:nowrap">Lending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11547.61px;left:5910.64px;white-space:nowrap">Program. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11547.61px;left:6697.62px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11547.61px;left:7057.79px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11547.61px;left:7417.97px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11547.61px;left:7798.18px;white-space:nowrap">pledged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11547.61px;left:8488.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11547.61px;left:8688.96px;white-space:nowrap">buy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11547.61px;left:9029.18px;white-space:nowrap">unlimited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11797.61px;left:5220px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11797.61px;left:6220.55px;white-space:nowrap">bonds, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11797.61px;left:6811px;white-space:nowrap">abandoning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11797.61px;left:7801.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11797.61px;left:8102.2px;white-space:nowrap">previous </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11797.61px;left:8832.57px;white-space:nowrap">quantitative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12047.61px;left:5220px;white-space:nowrap">easing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12047.61px;left:5800.43px;white-space:nowrap">(QE) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12047.61px;left:6230.39px;white-space:nowrap">targets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12047.61px;left:6830.68px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12047.61px;left:6970.69px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12047.61px;left:7321.03px;white-space:nowrap">announced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12047.61px;left:8261.89px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12047.61px;left:8412.01px;white-space:nowrap">week </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12047.61px;left:8882.23px;white-space:nowrap">earlier </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12047.61px;left:9432.42px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12297.61px;left:5220px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12297.61px;left:5770.11px;white-space:nowrap">15. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12297.61px;left:6067.09px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12297.61px;left:6427.27px;white-space:nowrap">heightened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12297.61px;left:7368.13px;white-space:nowrap">demand </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12297.61px;left:8068.62px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12297.61px;left:8328.69px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12297.61px;left:8728.77px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12297.61px;left:9309.02px;white-space:nowrap">(USD) </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5371.47px;left:0px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5371.47px;left:833.75px;white-space:nowrap">Composition</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5569.35px;left:0px;white-space:nowrap">12/31/20</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5857.84px;left:3927.5px;white-space:nowrap">% </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5857.84px;left:4114.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5857.84px;left:4309.69px;letter-spacing:-2.37px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6049.84px;left:3858.91px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6049.84px;left:4155.23px;white-space:nowrap">Assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6391.78px;left:0px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6391.78px;left:586.95px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6391.78px;left:1511.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6391.78px;left:1814.38px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6391.78px;left:2392.5px;white-space:nowrap">Securities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6391.78px;left:4226.33px;white-space:nowrap">50.4%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6652.26px;left:0px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6652.26px;left:355.63px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6652.26px;left:1280.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6652.26px;left:1583.05px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6652.26px;left:2161.17px;white-space:nowrap">Securities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6652.26px;left:4226.33px;white-space:nowrap">16.8%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6912.75px;left:0px;letter-spacing:-1.61px;white-space:nowrap">Short-Term </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6912.75px;left:835.7px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6912.75px;left:1742.73px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6912.75px;left:1893.91px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6912.75px;left:2338.52px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6912.75px;left:2623.13px;white-space:nowrap">Assets*</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6912.75px;left:4226.33px;white-space:nowrap">32.8%</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:0px;white-space:nowrap">1. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:145.94px;white-space:nowrap">Source: </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:634.61px;letter-spacing:-0.6px;white-space:nowrap">Morningstar.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:262.58px;white-space:nowrap">index </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:612.73px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:743.98px;white-space:nowrap">unmanaged </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:1473.52px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:1728.91px;white-space:nowrap">includes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:2246.8px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:3034.45px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:3180.39px;white-space:nowrap">any </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:3428.44px;white-space:nowrap">income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:3887.89px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:4041.02px;white-space:nowrap">distributions. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:4814.14px;white-space:nowrap">It </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:4923.59px;white-space:nowrap">does </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:5244.61px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:5463.52px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:5857.34px;white-space:nowrap">any </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:6105.39px;white-space:nowrap">fees, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:6426.41px;white-space:nowrap">expenses </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:7024.61px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:7177.73px;white-space:nowrap">sales </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:7520.55px;white-space:nowrap">charges. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:8060.31px;white-space:nowrap">One </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:8344.84px;white-space:nowrap">cannot </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:8775.31px;white-space:nowrap">invest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:9154.61px;white-space:nowrap">directly </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:9606.72px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:187.39px;left:9745.31px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:0px;white-space:nowrap">index, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:386.64px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:642.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:824.45px;white-space:nowrap">index </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:1174.61px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:1305.86px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:1524.77px;white-space:nowrap">representative </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:2392.73px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:2538.67px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:2757.58px;letter-spacing:-0.32px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:367.39px;left:3185.63px;white-space:nowrap">portfolio.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:269.92px;letter-spacing:-0.19px;white-space:nowrap">www.franklintempletondatasources.com </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:2618.2px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:2807.81px;white-space:nowrap">additional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:3406.02px;white-space:nowrap">data </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:3697.89px;white-space:nowrap">provider </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:576.19px;left:4208.36px;white-space:nowrap">information. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:269.77px;white-space:nowrap">dollar </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:663.52px;white-space:nowrap">value, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:1072.03px;white-space:nowrap">number </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:1589.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:1749.92px;white-space:nowrap">shares </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:2209.45px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:2377.11px;white-space:nowrap">principal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:2960.47px;white-space:nowrap">amount, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:3507.19px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:3776.95px;white-space:nowrap">names </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:4229.14px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:4389.45px;white-space:nowrap">all </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:4571.88px;white-space:nowrap">portfolio </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:5140.31px;white-space:nowrap">holdings </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:5723.52px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:5956.95px;white-space:nowrap">listed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:6336.17px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:6489.3px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:6722.58px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:7184.38px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:7855.08px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:8015.39px;white-space:nowrap">Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:813.79px;left:8817.5px;white-space:nowrap">(SOI).</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1022.59px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1022.59px;left:269.77px;white-space:nowrap">SOI </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1022.59px;left:532.34px;white-space:nowrap">begins </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1022.59px;left:991.72px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1022.59px;left:1188.52px;white-space:nowrap">page </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1025.02px;left:1531.25px;white-space:nowrap">9</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1022.59px;left:1620.23px;white-space:nowrap">.</div></div>
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			<div style="width:10080px;height:936px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:644.15px;white-space:nowrap">3</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5653.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">around </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:610.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:910.72px;white-space:nowrap">world </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1390.87px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1771.08px;white-space:nowrap">led </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2061.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2361.53px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2721.71px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2921.84px;white-space:nowrap">expand </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3562.38px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3792.39px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">swaps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:560.21px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1280.48px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1650.59px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2250.97px;white-space:nowrap">central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2841.24px;white-space:nowrap">banks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3371.57px;white-space:nowrap">beyond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4012.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4312.35px;text-rendering:optimizeLegibility;white-space:nowrap">five </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">banks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:530.33px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:720.44px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:950.45px;white-space:nowrap">standing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1681px;letter-spacing:-1.48px;white-space:nowrap">facility.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:0px;white-space:nowrap">On </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:290.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:590.36px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:990.44px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1450.55px;white-space:nowrap">side, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1880.77px;white-space:nowrap">Congress </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2701.14px;white-space:nowrap">passed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3331.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3631.82px;white-space:nowrap">CARES </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:0px;white-space:nowrap">Act </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:310.08px;white-space:nowrap">(Coronavirus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1380.5px;white-space:nowrap">Aid, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1740.67px;white-space:nowrap">Relief, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2300.89px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2651.22px;white-space:nowrap">Economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3491.54px;white-space:nowrap">Security) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:250.22px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:800.33px;white-space:nowrap">27, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1100.57px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1250.68px;white-space:nowrap">USD$2.2 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2031.06px;white-space:nowrap">trillion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2551.2px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3011.31px;white-space:nowrap">relief </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3451.46px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:0px;white-space:nowrap">designed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:780.64px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:980.77px;white-space:nowrap">provide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1621.14px;white-space:nowrap">loans </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2101.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2301.59px;white-space:nowrap">businesses, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3302.14px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3932.4px;white-space:nowrap">support </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:350.33px;white-space:nowrap">unemployment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1580.98px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2261.43px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2461.55px;white-space:nowrap">individuals, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3402.07px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3752.4px;white-space:nowrap">funding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:260.07px;white-space:nowrap">hospitals </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1020.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1370.83px;white-space:nowrap">public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1891.14px;white-space:nowrap">health </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2431.58px;white-space:nowrap">services. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3191.75px;white-space:nowrap">It </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3341.78px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3711.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:4012.12px;white-space:nowrap">largest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:820.37px;white-space:nowrap">relief </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1260.53px;white-space:nowrap">bill </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1530.62px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1720.72px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2120.8px;letter-spacing:-1.67px;white-space:nowrap">history.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:200.13px;white-space:nowrap">Europe, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:880.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1180.81px;white-space:nowrap">European </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2011.46px;white-space:nowrap">Central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2641.73px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3102.01px;white-space:nowrap">(ECB) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3642.01px;white-space:nowrap">unveiled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:4362.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:0px;white-space:nowrap">&#8364;750 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:450.44px;white-space:nowrap">billion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:960.73px;white-space:nowrap">Pandemic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1811.16px;white-space:nowrap">Emergency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2771.54px;white-space:nowrap">Purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:3581.98px;white-space:nowrap">Programme </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:0px;white-space:nowrap">(PEPP) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:650.13px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:840.23px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1090.46px;white-space:nowrap">unscheduled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2161.32px;white-space:nowrap">mid-week </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2981.51px;white-space:nowrap">announcement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:4222.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:0px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:550.11px;white-space:nowrap">18. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:850.34px;white-space:nowrap">ECB </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1270.46px;white-space:nowrap">President </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2080.9px;white-space:nowrap">Christine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2841.15px;white-space:nowrap">Lagarde </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3551.75px;white-space:nowrap">commented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:0px;white-space:nowrap">that, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:400.25px;white-space:nowrap">&#8220;there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:920.48px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1230.64px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1480.87px;white-space:nowrap">limits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1940.8px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2140.93px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2451.09px;white-space:nowrap">commitment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3481.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3681.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3981.62px;white-space:nowrap">euro. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:0px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:316.76px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:626.92px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1577.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1777.59px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2117.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2418.05px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2698.15px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3428.7px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3628.83px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3938.99px;white-space:nowrap">tools, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:0px;white-space:nowrap">within </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:510.21px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:820.37px;white-space:nowrap">mandate.&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:1680.82px;letter-spacing:-0.65px;white-space:nowrap">PEPP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2207.81px;white-space:nowrap">appeared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3018.52px;white-space:nowrap">geared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3629px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3829.13px;white-space:nowrap">support </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:4479.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:0px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:460.11px;white-space:nowrap">vulnerable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1340.68px;white-space:nowrap">states, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1920.94px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2161.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2461.29px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3181.55px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3521.78px;white-space:nowrap">unprecedented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">flexibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:730.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:930.32px;white-space:nowrap">buy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1270.55px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1420.66px;white-space:nowrap">wide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1840.87px;white-space:nowrap">range </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2351.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2551.38px;white-space:nowrap">eligible </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3161.78px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:4022.05px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:0px;white-space:nowrap">Greek </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:540.18px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:890.51px;white-space:nowrap">Italian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1420.84px;white-space:nowrap">sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2251.32px;white-space:nowrap">debt, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2701.67px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2941.79px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3301.88px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3541.99px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;white-space:nowrap">commercial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:970.14px;letter-spacing:-1.42px;white-space:nowrap">paper. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1517.34px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1877.52px;white-space:nowrap">European </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2708.17px;white-space:nowrap">Commission </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3748.36px;white-space:nowrap">passed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:4378.8px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:0px;white-space:nowrap">&#8364;750 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:450.44px;white-space:nowrap">billion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:960.73px;white-space:nowrap">recovery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1700.95px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2101.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2291.4px;letter-spacing:-2.23px;white-space:nowrap">July, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2698.15px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3208.36px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3578.47px;white-space:nowrap">largely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:4158.72px;white-space:nowrap">viewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:240.12px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:930.23px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1170.35px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1320.47px;white-space:nowrap">major </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1820.57px;white-space:nowrap">step </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2210.8px;white-space:nowrap">towards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2891.07px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3511.41px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3971.51px;white-space:nowrap">solidarity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:580.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:880.4px;white-space:nowrap">euro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1290.67px;white-space:nowrap">area. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:500.36px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1130.8px;white-space:nowrap">quarter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1751.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1951.26px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:2451.71px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:2982.13px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:3692.55px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:0px;white-space:nowrap">rebounded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:910.81px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:1320.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:1621.05px;white-space:nowrap">extreme </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:2321.28px;white-space:nowrap">lows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:2731.38px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:2921.48px;white-space:nowrap">March, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:3521.6px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:3761.72px;white-space:nowrap">extraordinary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:0px;white-space:nowrap">measures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:840.32px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:1250.33px;white-space:nowrap">central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:1840.61px;white-space:nowrap">banks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:2370.94px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:2721.27px;white-space:nowrap">governments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:3811.82px;white-space:nowrap">appeared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:4622.52px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:0px;white-space:nowrap">improve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:690.21px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:1290.32px;text-rendering:optimizeLegibility;white-space:nowrap">confidence. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:2251.05px;letter-spacing:-0.95px;white-space:nowrap">Additionally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:3258.28px;white-space:nowrap">regional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:3948.75px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:0px;white-space:nowrap">began </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:550.55px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:750.67px;white-space:nowrap">incrementally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:1861.08px;white-space:nowrap">reopen </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:2471.57px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:2821.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:3122.14px;white-space:nowrap">improving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:3952.44px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:0px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:400.34px;white-space:nowrap">appeared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:1211.04px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:1411.17px;white-space:nowrap">bolster </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:2001.45px;white-space:nowrap">optimism </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:2771.54px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:3121.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:3422.02px;white-space:nowrap">worst </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:3902.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:4102.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:0px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:820.37px;white-space:nowrap">shocks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:1430.6px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:1780.93px;white-space:nowrap">passed. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:2461.38px;white-space:nowrap">Risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:2861.37px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:3431.6px;white-space:nowrap">rallied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:3961.85px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:0px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:490.17px;white-space:nowrap">spreads </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:1180.55px;white-space:nowrap">tightened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:1971.21px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:2161.32px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:2651.48px;white-space:nowrap">sectors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:3281.66px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:3832.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:4132.27px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:0px;letter-spacing:-1.1px;white-space:nowrap">quarter, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:660.41px;white-space:nowrap">returning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1420.84px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1620.97px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2131.17px;white-space:nowrap">last </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2461.29px;white-space:nowrap">seen </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2901.62px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3091.73px;white-space:nowrap">early </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3531.88px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:4081.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:4432.32px;white-space:nowrap">late </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:0px;letter-spacing:-1.34px;white-space:nowrap">February. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:803.67px;white-space:nowrap">Those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1353.96px;white-space:nowrap">trends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1904.24px;white-space:nowrap">largely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:2484.49px;white-space:nowrap">extended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3275.16px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3935.65px;white-space:nowrap">July </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:4305.76px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:0px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:610.4px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:850.52px;white-space:nowrap">strengthening </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:1991.34px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2811.71px;white-space:nowrap">activity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3411.83px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3762.16px;white-space:nowrap">profound </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:0px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:510.21px;white-space:nowrap">interventions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:1580.8px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:2411.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:2611.58px;white-space:nowrap">fuel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:2951.81px;white-space:nowrap">rallies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:3471.94px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:4052.11px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:710.42px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:1400.54px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2061.04px;white-space:nowrap">much </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2551.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2751.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3051.56px;letter-spacing:-1.24px;white-space:nowrap">summer. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3791.69px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:0px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:490.17px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:820.11px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1390.34px;white-space:nowrap">appeared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2201.04px;white-space:nowrap">detached </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2991.71px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3401.72px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:0px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:820.37px;white-space:nowrap">fundamentals </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:1951.08px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2301.42px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2501.54px;white-space:nowrap">extraordinary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:3602.02px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:0px;white-space:nowrap">policies.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:0px;white-space:nowrap">Risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:399.99px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:970.22px;white-space:nowrap">eventually </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:1830.76px;white-space:nowrap">pulled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:2361.18px;white-space:nowrap">back </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:2791.41px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:3201.42px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:3601.58px;white-space:nowrap">summer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:4301.63px;white-space:nowrap">high </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:0px;white-space:nowrap">points </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:530.33px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:720.44px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:1650.94px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:2151.39px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:2391.5px;white-space:nowrap">rising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:2871.65px;white-space:nowrap">cases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:3391.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:3592px;white-space:nowrap">COVID-19 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:0px;white-space:nowrap">appeared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:810.7px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:1010.83px;white-space:nowrap">concern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:1701.21px;white-space:nowrap">investors, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:2521.49px;white-space:nowrap">particularly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:3441.8px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:3681.91px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:4182.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:0px;white-space:nowrap">Europe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:630.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:970.84px;white-space:nowrap">Asia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:1371.01px;white-space:nowrap">returned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:2091.45px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:2291.57px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:2921.84px;white-space:nowrap">mobility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:3581.98px;white-space:nowrap">restrictions. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:0px;white-space:nowrap">Developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:910.63px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:1510.75px;white-space:nowrap">sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:2341.23px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:2791.67px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:3301.88px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:4132.44px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:300.23px;white-space:nowrap">summer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:1000.28px;white-space:nowrap">months, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:1690.58px;white-space:nowrap">rising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:2170.72px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:2420.95px;text-rendering:optimizeLegibility;white-space:nowrap">reflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:3111.33px;white-space:nowrap">expectations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:4171.99px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:0px;white-space:nowrap">dropping </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:750.59px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:940.69px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:1871.19px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:2111.31px;white-space:nowrap">broad </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:2621.69px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:2951.63px;white-space:nowrap">aversion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:3682px;white-space:nowrap">returned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12198.64px;left:4402.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:0px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:530.42px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:1240.84px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:1971.04px;letter-spacing:-0.95px;white-space:nowrap">Additionally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:2978.26px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12448.64px;left:3798.63px;white-space:nowrap">recoveries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:190.11px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:680.27px;white-space:nowrap">regions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:1320.64px;white-space:nowrap">showed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:1991.07px;white-space:nowrap">signs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:2461.29px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:2661.42px;white-space:nowrap">levelling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:3361.82px;letter-spacing:-0.81px;white-space:nowrap">off </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:3608.7px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:3788.88px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12698.64px;left:4399.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;letter-spacing:-0.9px;white-space:nowrap">September, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6190.58px;white-space:nowrap">demonstrating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7381.23px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7731.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8031.71px;white-space:nowrap">improvements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9212.08px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9402.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">late </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5560.22px;white-space:nowrap">spring </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6100.49px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6450.82px;white-space:nowrap">summer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7150.87px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7791.15px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8231.31px;white-space:nowrap">rebounds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9031.9px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9441.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">extreme </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5920.22px;white-space:nowrap">low </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6240.32px;white-space:nowrap">points </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6770.65px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6960.76px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7510.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7851.27px;white-space:nowrap">April, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8311.38px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8611.61px;white-space:nowrap">trends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9161.89px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9512.14px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5470.22px;white-space:nowrap">extrapolated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6510.94px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7171.44px;white-space:nowrap">upcoming </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8001.91px;white-space:nowrap">quarters.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5220px;letter-spacing:-1.18px;white-space:nowrap">Yoshihide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6044.06px;white-space:nowrap">Suga </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6514.45px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6884.56px;text-rendering:optimizeLegibility;white-space:nowrap">confirmed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7724.88px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7965px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8265.23px;white-space:nowrap">new </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8645.45px;white-space:nowrap">prime </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9145.55px;white-space:nowrap">minister </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9825.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5220px;white-space:nowrap">Japan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5760.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6010.66px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6941.16px;white-space:nowrap">16, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7241.4px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7991.81px;white-space:nowrap">Shinzo </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8582.26px;white-space:nowrap">Abe&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:9076.9px;white-space:nowrap">resignation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5220px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5460.29px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6070.69px;white-space:nowrap">28. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6361px;white-space:nowrap">Abe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6731.28px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7081.61px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7532.05px;white-space:nowrap">prime </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8032.15px;white-space:nowrap">minister </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8712.25px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9182.46px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">2012. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5720.45px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6037.21px;white-space:nowrap">expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6817.76px;white-space:nowrap">political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7468.07px;white-space:nowrap">continuity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8278.51px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8468.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8768.85px;white-space:nowrap">near </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9179.12px;white-space:nowrap">term, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9639.14px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">Suga </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5690.39px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5870.39px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6110.68px;white-space:nowrap">Abe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6480.97px;white-space:nowrap">loyalist </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7081.17px;white-space:nowrap">who </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7461.39px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7831.49px;white-space:nowrap">often </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8281.85px;white-space:nowrap">credited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8972.23px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9342.33px;white-space:nowrap">pushing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5880.5px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6370.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6560.86px;letter-spacing:-0.54px;white-space:nowrap">Abe&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7057.88px;white-space:nowrap">critical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7617.92px;white-space:nowrap">domestic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8388.19px;white-space:nowrap">reforms.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:5220px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:5420.13px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:6110.42px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:6610.87px;white-space:nowrap">&#8220;risk-on&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:7320.85px;white-space:nowrap">sentiment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:8151.24px;white-space:nowrap">initially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:8741.43px;white-space:nowrap">returned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:9461.87px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:5220px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:5750.42px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:6460.84px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:7200.97px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:7571.07px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:7901.02px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:8471.25px;white-space:nowrap">rallying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:9091.49px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:9641.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:5559.96px;white-space:nowrap">couple </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:6140.39px;white-space:nowrap">weeks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:6700.61px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:6900.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:7200.97px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:7751.25px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:8311.64px;white-space:nowrap">broad </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:8822.02px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:9151.96px;white-space:nowrap">aversion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:5220px;white-space:nowrap">sharply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:5850.26px;white-space:nowrap">returned, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:6620.71px;white-space:nowrap">leading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:7251.24px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:7451.37px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:8301.8px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:8741.95px;white-space:nowrap">adjustments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:9762.45px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:5220px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:5850.26px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:6340.43px;white-space:nowrap">sectors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:6970.61px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7520.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7821.21px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:8451.65px;white-space:nowrap">half </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:8791.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:8992px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:9292.24px;white-space:nowrap">month. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:5220px;white-space:nowrap">Investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:6000.29px;white-space:nowrap">appeared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:6811px;white-space:nowrap">concerned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:7701.59px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:8101.76px;white-space:nowrap">resurgent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:8912.2px;white-space:nowrap">waves </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:9472.41px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:5220px;white-space:nowrap">COVID-19 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:6100.22px;white-space:nowrap">cases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:6620.45px;white-space:nowrap">around </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:7230.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:7531.17px;white-space:nowrap">world. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:8061.33px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:8661.45px;white-space:nowrap">sentiments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:5220px;white-space:nowrap">ultimately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6030.26px;white-space:nowrap">improved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6820.58px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7010.68px;white-space:nowrap">November </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7891px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:8141.22px;white-space:nowrap">apparent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:8901.83px;white-space:nowrap">optimism </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:9671.92px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:5220px;white-space:nowrap">promising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6050.3px;white-space:nowrap">vaccine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6710.63px;white-space:nowrap">trials </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7140.67px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7491.01px;white-space:nowrap">prospects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8321.4px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8581.46px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8731.58px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:9462.13px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5220px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6040.37px;white-space:nowrap">recovery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6780.59px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6970.69px;white-space:nowrap">2021. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7471.14px;white-space:nowrap">Risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7871.13px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8441.37px;text-rendering:optimizeLegibility;white-space:nowrap">finished </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:9111.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:9412.03px;text-rendering:optimizeLegibility;white-space:nowrap">final </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5220px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5860.28px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6060.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6360.64px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6760.81px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7011.04px;white-space:nowrap">broad-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8071.79px;white-space:nowrap">rallies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8591.92px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8832.04px;white-space:nowrap">initial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:9292.24px;white-space:nowrap">vaccine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5220px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6230.48px;white-space:nowrap">commenced.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:5220px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:6020.33px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:6620.45px;white-space:nowrap">optimism </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:7390.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:7580.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:7880.89px;white-space:nowrap">fourth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:8391.18px;white-space:nowrap">quarter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:9011.51px;white-space:nowrap">ran </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:9321.68px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:9511.79px;white-space:nowrap">stark </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:5220px;white-space:nowrap">contrast </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:5910.29px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:6110.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:6410.65px;white-space:nowrap">worsening </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:7281.12px;white-space:nowrap">pandemic, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:8161.61px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:8401.73px;white-space:nowrap">COVID-19 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:9281.95px;white-space:nowrap">infections </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:5220px;white-space:nowrap">surged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:5820.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:6020.51px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:6580.72px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:7090.93px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:7281.04px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:7781.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:7981.44px;white-space:nowrap">Europe, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:8661.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:8962.12px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:9362.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:5220px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:5650.4px;white-space:nowrap">America </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:6360.56px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:6550.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:6850.9px;white-space:nowrap">waning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:7471.32px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:8111.6px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:8311.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:8611.96px;letter-spacing:-1.66px;white-space:nowrap">year, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:9052.21px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:9422.31px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:5220px;white-space:nowrap">highly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:5740.31px;white-space:nowrap">contagious </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:6660.97px;white-space:nowrap">variant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:7251.24px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:7451.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:7751.6px;white-space:nowrap">virus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:8181.65px;white-space:nowrap">surfacing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:8962.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:9152.14px;white-space:nowrap">dozens </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:9782.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:5220px;white-space:nowrap">countries. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:6047.14px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:6407.31px;white-space:nowrap">harsh </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:6907.59px;white-space:nowrap">realities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:7577.84px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:7777.97px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:7928.09px;white-space:nowrap">worldwide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:8778.43px;white-space:nowrap">health </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:9318.87px;white-space:nowrap">crisis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:9778.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:5220px;white-space:nowrap">deepening </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:6110.86px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:6931.23px;white-space:nowrap">hardship </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:7671.71px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:8502.36px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:8702.49px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:9142.82px;white-space:nowrap">profound </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:5220px;white-space:nowrap">consequences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:6430.87px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:6690.94px;white-space:nowrap">lives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:7101.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:7451.37px;white-space:nowrap">livelihoods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:8341.88px;white-space:nowrap">around </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:8952.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:9252.6px;white-space:nowrap">world.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:5220px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:5420.13px;white-space:nowrap">late </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:5760.35px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:6640.66px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:7141.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:7441.35px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:7841.43px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:8841.97px;white-space:nowrap">passed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:5220px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:5370.12px;white-space:nowrap">USD$900 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:6200.6px;white-space:nowrap">billion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:6710.89px;white-space:nowrap">support </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:7361.28px;white-space:nowrap">package </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:8091.83px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:8442.07px;white-space:nowrap">extended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:5220px;white-space:nowrap">unemployment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:6450.64px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:7131.09px;white-space:nowrap">until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:7511.31px;white-space:nowrap">mid-March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:8411.4px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:8861.84px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:9212.17px;white-space:nowrap">provides </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:5220px;white-space:nowrap">one-time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:5970.32px;white-space:nowrap">relief </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:6410.48px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:7240.87px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:7441px;white-space:nowrap">USD$600 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:8271.47px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:8471.6px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:8911.67px;white-space:nowrap">citizens. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:5220px;white-space:nowrap">Additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:6060.59px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:6520.69px;white-space:nowrap">stimulus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:7230.85px;white-space:nowrap">appeared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:8041.55px;white-space:nowrap">likely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:8491.64px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:8861.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:9161.98px;white-space:nowrap">upcoming </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:5220px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:5860.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:6050.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:6350.89px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:6750.97px;white-space:nowrap">government. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:7798.27px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:8158.45px;white-space:nowrap">Fed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:8518.62px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9448.64px;left:9349.28px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:5220px;white-space:nowrap">maintain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:5950.37px;white-space:nowrap">low </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:6270.47px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:6720.64px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:6960.76px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:7320.85px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:7560.97px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:7790.98px;white-space:nowrap">emergency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:8731.41px;white-space:nowrap">support </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9698.64px;left:9381.8px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:5220px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:5630.01px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:6180.12px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:6840.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:7140.85px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:7491.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:7691.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:7991.54px;letter-spacing:-1.66px;white-space:nowrap">year, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9948.64px;left:8431.79px;white-space:nowrap">continuously </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">reaffirming </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:6120.26px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:6350.27px;white-space:nowrap">commitment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:7380.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:7580.57px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:7920.79px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:8150.8px;white-space:nowrap">&#8220;full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:8490.85px;white-space:nowrap">range </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:9001.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:9201.36px;white-space:nowrap">tools </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:9631.58px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:5220px;white-space:nowrap">support </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:5870.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:6170.63px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:6570.7px;white-space:nowrap">economy&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:7411.03px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:7611.15px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:8051.48px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:8561.69px;white-space:nowrap">meeting.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:5580.18px;white-space:nowrap">ECB </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:6000.29px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:6380.51px;white-space:nowrap">kept </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:6770.74px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:7571.07px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:8081.28px;white-space:nowrap">unchanged </div><div style="font-family:Arial, 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sans-serif;font-size:180px;position:absolute;top:11128.64px;left:7181.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11128.64px;left:7481.51px;white-space:nowrap">main </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11128.64px;left:7921.67px;text-rendering:optimizeLegibility;white-space:nowrap">refinancing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11128.64px;left:8852.26px;white-space:nowrap">operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:5220px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:5580.18px;white-space:nowrap">remaining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:6420.59px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:6620.71px;white-space:nowrap">0.0%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:7131.01px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:7481.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:7781.57px;white-space:nowrap">main </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:8221.73px;white-space:nowrap">deposit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:8852.17px;white-space:nowrap">facility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:9402.28px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:5220px;white-space:nowrap">remaining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:6059.81px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:6259.34px;letter-spacing:0px;white-space:nowrap">-0.5%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:6825.73px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:7185.3px;white-space:nowrap">ECB </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:7604.82px;white-space:nowrap">increased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:8434.71px;white-space:nowrap">the </div><div style="font-family:Arial, 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sans-serif;font-size:180px;position:absolute;top:11878.64px;left:6640.84px;white-space:nowrap">trillion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:7160.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:7351.08px;letter-spacing:-0.99px;white-space:nowrap">December, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:8271.47px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:8681.66px;white-space:nowrap">previously </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:9542.02px;white-space:nowrap">raising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12128.64px;left:5220px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12128.64px;left:5360.01px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12128.64px;left:5560.14px;white-space:nowrap">&#8364;1.35 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12128.64px;left:6060.59px;white-space:nowrap">trillion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12128.64px;left:6580.72px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12128.64px;left:6770.83px;white-space:nowrap">June. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12128.64px;left:7257.92px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12128.64px;left:7618.1px;white-space:nowrap">U.K. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12128.64px;left:8018.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12128.64px;left:8368.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12128.64px;left:8668.74px;white-space:nowrap">European </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12128.64px;left:9499.39px;white-space:nowrap">Union </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12378.64px;left:5220px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12378.64px;left:5600.21px;white-space:nowrap">settled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12378.64px;left:6180.56px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12378.64px;left:6430.78px;text-rendering:optimizeLegibility;white-space:nowrap">final </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12378.64px;left:6811px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12378.64px;left:7311.01px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12378.64px;left:7571.07px;white-space:nowrap">post-Brexit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12378.64px;left:8481.36px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12378.64px;left:8941.64px;white-space:nowrap">agreements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12628.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, 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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:360.18px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:820.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1020.59px;white-space:nowrap">Japan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1561.03px;white-space:nowrap">(BOJ) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2080.99px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2461.2px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2961.47px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3211.7px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3942.25px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4142.37px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4372.38px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:510.21px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:700.31px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1200.76px;white-space:nowrap">Overnight </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2031.15px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2671.44px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3121.61px;white-space:nowrap">remained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3922.03px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4122.16px;white-space:nowrap">0.1% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:350.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:650.57px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1070.77px;white-space:nowrap">target </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1581.06px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1831.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2131.52px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2791.85px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3622.5px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:450.44px;white-space:nowrap">remained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1250.86px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1450.99px;white-space:nowrap">0.0%. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1961.28px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2161.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2461.64px;white-space:nowrap">second </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3092.08px;letter-spacing:-1.1px;white-space:nowrap">quarter, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3752.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4052.72px;white-space:nowrap">BOJ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">removed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:750.32px;white-space:nowrap">QE </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1060.4px;white-space:nowrap">caps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1490.63px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1840.96px;white-space:nowrap">quadrupled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2791.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3091.99px;white-space:nowrap">size </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3462.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3662.23px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3892.24px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:400.34px;white-space:nowrap">purchases. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1330.84px;white-space:nowrap">It </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1480.87px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1861.08px;white-space:nowrap">increasingly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2861.54px;white-space:nowrap">focused </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3541.99px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3792.22px;white-space:nowrap">ensuring </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">businesses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:950.54px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1300.87px;white-space:nowrap">ample </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1841.13px;white-space:nowrap">access </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2451.36px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2651.48px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3221.81px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3882.3px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">loan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:390.32px;white-space:nowrap">programs, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1250.6px;white-space:nowrap">increasing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2121.06px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2351.07px;white-space:nowrap">lending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2981.6px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3701.87px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3901.99px;white-space:nowrap">USD$1 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:0px;white-space:nowrap">trillion. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:570.15px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:1370.48px;white-space:nowrap">despite </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2000.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2301.15px;white-space:nowrap">BOJ&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2825.6px;letter-spacing:-0.41px;white-space:nowrap">efforts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3372.54px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3572.67px;white-space:nowrap">drive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:4012.82px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:0px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:550.37px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:1100.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:1391.04px;white-space:nowrap">Abenomics </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:2331.47px;white-space:nowrap">era, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:2691.65px;text-rendering:optimizeLegibility;white-space:nowrap">deflationary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:3672.25px;white-space:nowrap">pressures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:0px;white-space:nowrap">returned, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:770.45px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:1140.56px;white-space:nowrap">core </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:1540.72px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:2211.15px;white-space:nowrap">dropping </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:2961.74px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:3161.87px;white-space:nowrap">-0.4% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:3682.09px;white-space:nowrap">year-over-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:0px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:400.17px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:580.34px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:1190.74px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:1541.07px;white-space:nowrap">falling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:2061.39px;white-space:nowrap">further </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:2631.62px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:2831.75px;white-space:nowrap">-0.9% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:3351.97px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:3542.08px;letter-spacing:-0.99px;white-space:nowrap">November. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:360.18px;white-space:nowrap">BOJ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:760.25px;white-space:nowrap">announced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:1701.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:1891.23px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:2771.54px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:3121.79px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:3261.8px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:3612.13px;white-space:nowrap">launched </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:150.12px;white-space:nowrap">comprehensive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:1420.75px;white-space:nowrap">review </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:1990.9px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:2191.03px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:2421.04px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:3221.37px;white-space:nowrap">framework, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:0px;white-space:nowrap">scheduled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:870.64px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:1070.77px;white-space:nowrap">arrive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:1570.87px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:1760.98px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:2311.08px;white-space:nowrap">2021. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:2811.53px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:3128.29px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:3958.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:4159.07px;white-space:nowrap">expect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:300.23px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:1130.89px;white-space:nowrap">yen </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:1471.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:1671.24px;white-space:nowrap">appreciate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:2561.84px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:3192.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:3492.51px;white-space:nowrap">USD </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:3922.56px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:300.23px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:900.62px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:1150.84px;white-space:nowrap">stable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:1681.17px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:2041.35px;letter-spacing:-0.23px;white-space:nowrap">differentials </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:3008.58px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:3358.92px;letter-spacing:-0.41px;white-space:nowrap">Japan&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:4026.09px;white-space:nowrap">strong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:0px;white-space:nowrap">external </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:690.38px;white-space:nowrap">balance. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:0px;white-space:nowrap">Nearly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:570.15px;white-space:nowrap">every </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1060.31px;white-space:nowrap">country </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1700.6px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1890.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2190.94px;white-space:nowrap">world </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2671.08px;white-space:nowrap">declared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3411.56px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3901.73px;white-space:nowrap">form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:200.13px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:660.23px;white-space:nowrap">response </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:1450.72px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:1650.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:1951.08px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:2771.46px;white-space:nowrap">crisis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3231.39px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3421.49px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3921.94px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:0px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:440.07px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:1220.45px;white-space:nowrap">pursuing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:1960.93px;white-space:nowrap">programs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:2771.19px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3121.44px;white-space:nowrap">went </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3551.66px;white-space:nowrap">beyond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:4192.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:0px;white-space:nowrap">measures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:840.32px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:1230.56px;white-space:nowrap">deployed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2011.2px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2561.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2861.81px;white-space:nowrap">GFC. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:3341.78px;letter-spacing:-0.27px;white-space:nowrap">Debt-to-GDP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:0px;white-space:nowrap">(gross </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:550.11px;white-space:nowrap">domestic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:1320.38px;white-space:nowrap">product) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2030.71px;white-space:nowrap">ratios </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2520.88px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2961.21px;white-space:nowrap">risen </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:3401.37px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:4381.79px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:4571.89px;white-space:nowrap">just </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:0px;white-space:nowrap">about </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:500.45px;white-space:nowrap">every </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:990.62px;letter-spacing:-1.48px;white-space:nowrap">country. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1667.55px;white-space:nowrap">On </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1957.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:2257.91px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3058.24px;white-space:nowrap">front, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3518.44px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:4008.6px;white-space:nowrap">central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:0px;white-space:nowrap">banks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:530.33px;white-space:nowrap">aggressively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1580.8px;white-space:nowrap">cut </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1870.93px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2381.13px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2881.32px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3251.43px;white-space:nowrap">several </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3881.69px;white-space:nowrap">indicating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:0px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:390.23px;white-space:nowrap">intend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:930.67px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:1130.8px;white-space:nowrap">respond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:1831.29px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:2031.42px;white-space:nowrap">ongoing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:2722.06px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:3542.43px;white-space:nowrap">adversity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:4312.71px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:0px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:820.63px;white-space:nowrap">accommodation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:2141.28px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:2381.4px;white-space:nowrap">needed. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:3082.06px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:3662.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:3962.55px;white-space:nowrap">12-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:0px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:600.38px;white-space:nowrap">Brazil </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:1100.48px;white-space:nowrap">cut </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:1390.61px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:1840.78px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:2080.9px;white-space:nowrap">250 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:2431.23px;white-space:nowrap">bps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:2771.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:2971.58px;white-space:nowrap">2.00%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:3581.98px;white-space:nowrap">Colombia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:4392.33px;white-space:nowrap">cut </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:0px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:450.18px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:690.29px;white-space:nowrap">250 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:1040.63px;white-space:nowrap">bps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:1380.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:1580.98px;white-space:nowrap">1.75%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:2191.38px;white-space:nowrap">Mexico </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:2811.53px;white-space:nowrap">cut </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:3101.66px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:3551.84px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:3791.95px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:4142.29px;white-space:nowrap">bps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:4482.51px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:0px;white-space:nowrap">4.25%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:610.4px;white-space:nowrap">Indonesia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:1441.05px;white-space:nowrap">cut </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:1731.18px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:2181.36px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:2421.47px;white-space:nowrap">125 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:2771.81px;white-space:nowrap">bps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:3112.03px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:3312.16px;white-space:nowrap">3.75%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:3922.56px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:4272.89px;white-space:nowrap">India </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:0px;white-space:nowrap">cut </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:290.13px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:740.3px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:980.42px;letter-spacing:-3.34px;white-space:nowrap">115 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:1317.39px;white-space:nowrap">bps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:1657.62px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:1857.74px;white-space:nowrap">4.00%.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:200.13px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:730.55px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1180.99px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1921.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2221.35px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2641.55px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2891.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3192.01px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3852.33px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:0px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:753.49px;white-space:nowrap">(UST) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1283.38px;white-space:nowrap">note </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1683.72px;text-rendering:optimizeLegibility;white-space:nowrap">finished </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2354.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2654.38px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3204.76px;white-space:nowrap">100 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3555.09px;white-space:nowrap">bps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3895.31px;letter-spacing:-1.42px;white-space:nowrap">lower, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:0px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:200.13px;white-space:nowrap">0.92%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:810.53px;white-space:nowrap">ranging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1461.01px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1871.02px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2021.13px;white-space:nowrap">pre-pandemic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3171.71px;white-space:nowrap">high </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3562.03px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3762.16px;white-space:nowrap">1.92% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:4322.55px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:0px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:690.38px;white-space:nowrap">1 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:840.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1040.63px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1290.85px;white-space:nowrap">all-time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1920.94px;white-space:nowrap">low </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2241.04px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2441.16px;white-space:nowrap">0.51% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3001.55px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3241.85px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3852.25px;white-space:nowrap">4. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:4049.12px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:4409.3px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:250.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:550.46px;white-space:nowrap">10-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1210.78px;white-space:nowrap">German </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1911.01px;white-space:nowrap">Bund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2381.4px;text-rendering:optimizeLegibility;white-space:nowrap">finished </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3051.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3352.06px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3752.23px;white-space:nowrap">38 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:4002.45px;white-space:nowrap">bps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:4342.68px;white-space:nowrap">lower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:0px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:200.13px;white-space:nowrap">-0.57%, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:870.47px;white-space:nowrap">ranging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1520.95px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1930.96px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2081.07px;white-space:nowrap">pre-pandemic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3231.65px;white-space:nowrap">high </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3621.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3822.1px;white-space:nowrap">-0.19% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:250.22px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:940.61px;white-space:nowrap">13 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1190.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1390.96px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1641.18px;white-space:nowrap">all-time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2271.27px;white-space:nowrap">low </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2591.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2791.49px;white-space:nowrap">-0.86% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3411.83px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3662.05px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:4212.16px;white-space:nowrap">9, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:0px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:550.37px;white-space:nowrap">peak </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:990.7px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1701.12px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2301.24px;white-space:nowrap">shocks. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2961.47px;white-space:nowrap">Sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3822.01px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4272.45px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:0px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:380.21px;white-space:nowrap">declined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1100.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1290.85px;white-space:nowrap">several </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1921.11px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2701.49px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2951.72px;white-space:nowrap">ongoing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3642.36px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:0px;white-space:nowrap">accommodation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:1320.64px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:1871.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:2171.25px;letter-spacing:-1.66px;white-space:nowrap">year, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:2611.49px;white-space:nowrap">notably </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:3241.93px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:4002.45px;white-space:nowrap">much </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:4492.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:0px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:430.4px;white-space:nowrap">America </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:1140.56px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:1480.96px;white-space:nowrap">Asia, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:1931.13px;white-space:nowrap">particularly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:2851.44px;white-space:nowrap">Brazil, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:3401.54px;white-space:nowrap">Mexico, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:4071.71px;white-space:nowrap">Indonesia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:350.33px;white-space:nowrap">India.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:200.13px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:940.34px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1680.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1980.7px;white-space:nowrap">USD </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:2410.75px;white-space:nowrap">initially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:3000.94px;white-space:nowrap">strengthened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:4101.77px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:4291.88px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:250.22px;white-space:nowrap">tremendous </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1250.77px;white-space:nowrap">demand </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1951.26px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:2211.33px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:2611.41px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3191.66px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3742.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:4042.27px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:600.12px;white-space:nowrap">shocks, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1260.35px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1560.59px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1960.93px;white-space:nowrap">entered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:2621.43px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:2771.54px;white-space:nowrap">broad-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:3832.29px;white-space:nowrap">weakening </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:0px;white-space:nowrap">pattern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:610.4px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:800.51px;white-space:nowrap">mid-May </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:1540.55px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:1890.79px;white-space:nowrap">largely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:2471.04px;white-space:nowrap">persisted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:3251.43px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:3911.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:4212.16px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:200.13px;letter-spacing:-0.99px;white-space:nowrap">December. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:1120.52px;white-space:nowrap">Many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:1610.68px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:2491.44px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:3091.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:3441.88px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:600.12px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:1480.43px;white-space:nowrap">alike </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:1900.63px;white-space:nowrap">strengthened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:3001.46px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:3631.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:3932.14px;white-space:nowrap">USD </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:0px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:400.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:700.4px;text-rendering:optimizeLegibility;white-space:nowrap">final </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:1080.62px;white-space:nowrap">seven </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:1610.95px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:2251.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:2451.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:2751.59px;letter-spacing:-1.66px;white-space:nowrap">year. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3191.84px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3391.96px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3882.13px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:5220px;white-space:nowrap">spreads </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:5910.38px;white-space:nowrap">widened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:6630.91px;white-space:nowrap">substantially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:7671.45px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:8221.82px;white-space:nowrap">peak </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:8662.15px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2751.3px;left:9372.57px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:5220px;white-space:nowrap">volatility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:5910.21px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:6100.31px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:6870.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:7220.92px;white-space:nowrap">March, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:7821.04px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:8121.27px;white-space:nowrap">progressively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3001.3px;left:9231.68px;white-space:nowrap">tightened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:5220px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:5620.08px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:6030.18px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:6690.67px;letter-spacing:-0.99px;white-space:nowrap">December, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:7611.06px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:7981.17px;white-space:nowrap">several </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:8611.44px;white-space:nowrap">sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3251.3px;left:9441.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:5220px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:6030.44px;white-space:nowrap">sectors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:6660.62px;text-rendering:optimizeLegibility;white-space:nowrap">finishing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:7371.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:7671.27px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:8071.44px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:8271.56px;white-space:nowrap">pre-pandemic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3501.3px;left:9422.14px;white-space:nowrap">levels.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4077.56px;left:5220px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4077.56px;left:6563.93px;white-space:nowrap">Strategy</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4452.9px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4452.9px;left:5536.76px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4452.9px;left:6056.98px;white-space:nowrap">selectively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4452.9px;left:6937.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4452.9px;left:7127.4px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4452.9px;left:7667.84px;white-space:nowrap">around </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4452.9px;left:8278.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4452.9px;left:8578.56px;white-space:nowrap">world </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4452.9px;left:9058.71px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4452.9px;left:9258.84px;white-space:nowrap">generate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4702.9px;left:5220px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4702.9px;left:5850.26px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4702.9px;left:6110.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4702.9px;left:6410.57px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4702.9px;left:6920.86px;white-space:nowrap">seeking </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4702.9px;left:7591.29px;white-space:nowrap">opportunities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4702.9px;left:8671.99px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4702.9px;left:9132.19px;white-space:nowrap">monitoring </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4952.9px;left:5220px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4952.9px;left:5950.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4952.9px;left:6140.65px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4952.9px;left:6780.94px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4952.9px;left:7281.12px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4952.9px;left:8021.34px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4952.9px;left:8851.99px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4952.9px;left:9302.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5202.9px;left:5220px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5202.9px;left:5710.17px;white-space:nowrap">risks. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5202.9px;left:6180.12px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5202.9px;left:6496.88px;white-space:nowrap">seek </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5202.9px;left:6927.1px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5202.9px;left:7127.23px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5202.9px;left:7827.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5202.9px;left:8127.95px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5202.9px;left:8714.97px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5202.9px;left:9505.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5452.9px;left:5220px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5452.9px;left:5850.26px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5452.9px;left:6730.58px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5452.9px;left:7080.91px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5452.9px;left:7470.97px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5452.9px;left:7811.19px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5452.9px;left:8551.41px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5452.9px;left:9201.62px;white-space:nowrap">contracts.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:6029.16px;left:5220px;letter-spacing:0.5px;white-space:nowrap">Manager&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:6029.16px;left:6511.11px;white-space:nowrap">Discussion</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6404.5px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6404.5px;left:5580.18px;white-space:nowrap">strategy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6404.5px;left:6270.47px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6404.5px;left:6640.58px;white-space:nowrap">structured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6404.5px;left:7490.92px;white-space:nowrap">around </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6404.5px;left:8101.41px;white-space:nowrap">four </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6404.5px;left:8461.58px;white-space:nowrap">key </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6404.5px;left:8791.7px;white-space:nowrap">pillars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6404.5px;left:9311.84px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6654.5px;left:5220px;white-space:nowrap">much </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6654.5px;left:5710.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6654.5px;left:5910.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6654.5px;left:6210.53px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6654.5px;left:6970.96px;white-space:nowrap">period: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6654.5px;left:7571.34px;white-space:nowrap">(1) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6654.5px;left:7841.34px;white-space:nowrap">maintaining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6654.5px;left:8811.91px;white-space:nowrap">high </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6654.5px;left:9202.24px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6904.5px;left:5220px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6904.5px;left:5880.5px;white-space:nowrap">elevated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6904.5px;left:6611.04px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6904.5px;left:7041.27px;white-space:nowrap">balances </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6904.5px;left:7811.81px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6904.5px;left:8162.14px;white-space:nowrap">risk-adjusted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6904.5px;left:9232.56px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7154.5px;left:5220px;white-space:nowrap">weights; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7154.5px;left:5930.33px;white-space:nowrap">(2) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7154.5px;left:6200.33px;white-space:nowrap">holding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7154.5px;left:6830.86px;white-space:nowrap">long </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7154.5px;left:7221.18px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7154.5px;left:8101.67px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7154.5px;left:8301.8px;white-space:nowrap">perceived </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7154.5px;left:9132.28px;white-space:nowrap">safe-haven </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7404.5px;left:5220px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7404.5px;left:5790.23px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7404.5px;left:6220.46px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7404.5px;left:6460.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7404.5px;left:6760.81px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7404.5px;left:7591.46px;white-space:nowrap">yen, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7404.5px;left:7981.7px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7404.5px;left:8501.75px;white-space:nowrap">franc, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7404.5px;left:9001.93px;white-space:nowrap">Norwegian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7654.5px;left:5220px;white-space:nowrap">krone </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7654.5px;left:5720.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7654.5px;left:6070.61px;white-space:nowrap">Swedish </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7654.5px;left:6800.98px;white-space:nowrap">krona; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7654.5px;left:7351.26px;white-space:nowrap">(3) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7654.5px;left:7621.26px;white-space:nowrap">targeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7654.5px;left:8371.76px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7654.5px;left:9332.4px;white-space:nowrap">risk-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7904.5px;left:5220px;white-space:nowrap">adjusted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7904.5px;left:5950.55px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7904.5px;left:6560.77px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7904.5px;left:6750.88px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7904.5px;left:6901px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7904.5px;left:7421.22px;white-space:nowrap">subset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7904.5px;left:8001.56px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7904.5px;left:8201.69px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7904.5px;left:9002.11px;white-space:nowrap">markets; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8154.5px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8154.5px;left:5570.33px;white-space:nowrap">(4) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8154.5px;left:5840.33px;white-space:nowrap">underweighting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8154.5px;left:7111.23px;white-space:nowrap">overvalued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8154.5px;left:8041.82px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8154.5px;left:8922.57px;text-rendering:optimizeLegibility;white-space:nowrap">fixed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8154.5px;left:9352.79px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8404.5px;left:5220px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8404.5px;left:5960.13px;white-space:nowrap">notably </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8404.5px;left:6590.57px;white-space:nowrap">longer-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8404.5px;left:7560.88px;letter-spacing:-3.33px;white-space:nowrap">USTs. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8404.5px;left:8087.7px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8404.5px;left:8447.87px;white-space:nowrap">strategy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8404.5px;left:9138.16px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8654.5px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8654.5px;left:5420.13px;white-space:nowrap">emphasize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8654.5px;left:6340.61px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8654.5px;left:6860.83px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8654.5px;left:7561.32px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8654.5px;left:8441.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8654.5px;left:8631.91px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8654.5px;left:9412.29px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8904.5px;left:5220px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8904.5px;left:5660.33px;white-space:nowrap">attractive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8904.5px;left:6440.63px;white-space:nowrap">risk-adjusted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8904.5px;left:7511.04px;white-space:nowrap">yields, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8904.5px;left:8071.26px;white-space:nowrap">resilient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8904.5px;left:8741.51px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9154.5px;left:5220px;white-space:nowrap">fundamentals </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9154.5px;left:6350.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9154.5px;left:6701.04px;white-space:nowrap">prudent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9154.5px;left:7361.54px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9154.5px;left:7821.65px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9154.5px;left:8171.98px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9154.5px;left:8972.31px;white-space:nowrap">policies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9404.5px;left:5220px;white-space:nowrap">Several </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9404.5px;left:5880.32px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9404.5px;left:6680.74px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9404.5px;left:7370.86px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9404.5px;left:8201.51px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9404.5px;left:8401.64px;letter-spacing:-0.54px;white-space:nowrap">offer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9404.5px;left:8808.57px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9654.5px;left:5220px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9654.5px;left:5770.37px;white-space:nowrap">yields </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9654.5px;left:6280.58px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9654.5px;left:6680.92px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9654.5px;left:7171.26px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9654.5px;left:7931.78px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9654.5px;left:8121.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9654.5px;left:8422.12px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9654.5px;left:9302.87px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9904.5px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9904.5px;left:5580.18px;white-space:nowrap">strategy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9904.5px;left:6270.47px;white-space:nowrap">entered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9904.5px;left:6930.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9904.5px;left:7231.2px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9904.5px;left:7991.63px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9904.5px;left:8542px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9904.5px;left:8732.11px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9904.5px;left:8882.23px;white-space:nowrap">de-risked </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9904.5px;left:9672.54px;white-space:nowrap">state </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10154.5px;left:5220px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10154.5px;left:5460.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10154.5px;left:5760.35px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10154.5px;left:6680.74px;white-space:nowrap">team </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10154.5px;left:7130.92px;white-space:nowrap">saw </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10154.5px;left:7501.03px;white-space:nowrap">elevated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10154.5px;left:8231.57px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10154.5px;left:8761.99px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10154.5px;left:9472.41px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10404.5px;left:5220px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10404.5px;left:5639.94px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10404.5px;left:5990.19px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10404.5px;left:6130.2px;white-space:nowrap">believed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10404.5px;left:6850.72px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10404.5px;left:7290.88px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10404.5px;left:8271.3px;white-space:nowrap">underappreciated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10654.5px;left:5220px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10654.5px;left:5460.12px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10654.5px;left:6200.24px;white-space:nowrap">While </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10654.5px;left:6700.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10654.5px;left:7000.58px;white-space:nowrap">team </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10654.5px;left:7450.75px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10654.5px;left:7820.86px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10654.5px;left:8121.09px;white-space:nowrap">explicitly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10654.5px;left:8851.29px;white-space:nowrap">anticipating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10904.5px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10904.5px;left:5520.23px;white-space:nowrap">COVID-19 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10904.5px;left:6400.46px;white-space:nowrap">crisis, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10904.5px;left:6910.4px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10904.5px;left:7050.41px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10904.5px;left:7420.52px;white-space:nowrap">concerned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10904.5px;left:8311.11px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10904.5px;left:8661.36px;white-space:nowrap">overvalued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11154.5px;left:5220px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11154.5px;left:5549.94px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11154.5px;left:6120.18px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11154.5px;left:6560.33px;white-space:nowrap">vulnerable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11154.5px;left:7440.91px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11154.5px;left:7641.04px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11154.5px;left:7791.15px;white-space:nowrap">geopolitical, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11154.5px;left:8791.79px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11154.5px;left:9612.16px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11404.5px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11404.5px;left:5930.42px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11404.5px;left:6530.54px;white-space:nowrap">shock. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11404.5px;left:7097.52px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11404.5px;left:7457.7px;white-space:nowrap">team </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11404.5px;left:7907.87px;white-space:nowrap">adjusted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11404.5px;left:8638.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11404.5px;left:8938.65px;white-space:nowrap">risk-sizing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11654.5px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11654.5px;left:5420.13px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11654.5px;left:6050.39px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11654.5px;left:6810.82px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11654.5px;left:7161.15px;white-space:nowrap">hedged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11654.5px;left:7811.81px;white-space:nowrap">(using </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11654.5px;left:8352.07px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11654.5px;left:9092.29px;white-space:nowrap">forwards) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11904.5px;left:5220px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11904.5px;left:5370.12px;white-space:nowrap">substantial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11904.5px;left:6280.66px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11904.5px;left:6931.05px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11904.5px;left:7131.18px;white-space:nowrap">local-currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11904.5px;left:8301.53px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11904.5px;left:9101.95px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12154.5px;left:5220px;white-space:nowrap">beta </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12154.5px;left:5620.34px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12154.5px;left:5950.28px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12154.5px;left:6610.78px;white-space:nowrap">proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12154.5px;left:7100.95px;white-space:nowrap">hedges </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12154.5px;left:7741.49px;white-space:nowrap">(net-negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12154.5px;left:8832.22px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12404.5px;left:5220px;white-space:nowrap">dollar) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12404.5px;left:5770.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12404.5px;left:6120.53px;white-space:nowrap">direct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12404.5px;left:6610.69px;white-space:nowrap">hedges </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12404.5px;left:7251.24px;white-space:nowrap">(Indian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12404.5px;left:7851.62px;white-space:nowrap">rupee, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12404.5px;left:8412.01px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12404.5px;left:8932.41px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12654.5px;left:5220px;white-space:nowrap">won, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12654.5px;left:5650.22px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12654.5px;left:6370.49px;white-space:nowrap">peso </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12654.5px;left:6810.82px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12654.5px;left:7161.15px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12654.5px;left:7901.46px;white-space:nowrap">real). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12654.5px;left:8358.31px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12654.5px;left:8718.49px;white-space:nowrap">strategy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12654.5px;left:9408.78px;white-space:nowrap">held </div></div>
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		<div style="background-image:url(data:image/png;base64,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);background-repeat:no-repeat;background-size:cover;height:133px;left:297px;position:absolute;top:81px;width:244px">
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			<div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:17.46px;left:0px;white-space:nowrap">Geographic </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:17.46px;left:1108.55px;white-space:nowrap">Composition</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:215.34px;left:0px;white-space:nowrap">12/31/20</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:503.83px;left:3927.5px;white-space:nowrap">% </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:503.83px;left:4114.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:503.83px;left:4309.69px;letter-spacing:-2.37px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:695.83px;left:3858.91px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:695.83px;left:4155.23px;white-space:nowrap">Assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1037.77px;left:0px;white-space:nowrap">Americas</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1037.77px;left:4226.33px;white-space:nowrap">35.8%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1298.25px;left:0px;white-space:nowrap">Asia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1298.25px;left:355.7px;text-rendering:optimizeLegibility;white-space:nowrap">Pacific</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1298.25px;left:4226.33px;white-space:nowrap">24.3%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1558.73px;left:0px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1558.73px;left:444.61px;white-space:nowrap">Europe</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1558.73px;left:4315.31px;white-space:nowrap">4.5%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1819.22px;left:0px;white-space:nowrap">Middle </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1819.22px;left:515.78px;white-space:nowrap">East </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1819.22px;left:880.39px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1819.22px;left:1022.73px;white-space:nowrap">Africa</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1819.22px;left:4315.31px;white-space:nowrap">1.4%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2079.7px;left:0px;white-space:nowrap">Supranational</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2079.7px;left:4315.31px;white-space:nowrap">1.2%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:0px;letter-spacing:-1.61px;white-space:nowrap">Short-Term </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:835.7px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:1742.73px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:1893.91px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:2338.52px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:2623.13px;white-space:nowrap">Assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.19px;left:4226.33px;white-space:nowrap">32.8%</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:51px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:936px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
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		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:644.15px;white-space:nowrap">5</div></div>
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		<div style="background-color:transparent;height:1px;left:54px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5653.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div 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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:150.12px;white-space:nowrap">net-negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1190.83px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1861.26px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2051.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2351.6px;white-space:nowrap">euro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2761.88px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3001.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3302.23px;white-space:nowrap">team </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3752.4px;white-space:nowrap">expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">fundamental </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1040.71px;white-space:nowrap">weakening </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1951.35px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2141.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2441.69px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3181.9px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3532.24px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3732.36px;white-space:nowrap">structural </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:350.33px;white-space:nowrap">political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1000.63px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1420.58px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1610.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1910.92px;white-space:nowrap">eurozone, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2761.52px;white-space:nowrap">along </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3251.95px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3622.06px;white-space:nowrap">headwinds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4532.7px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">growth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:590.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:940.61px;text-rendering:optimizeLegibility;white-space:nowrap">reflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1630.99px;letter-spacing:-0.41px;white-space:nowrap">efforts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2177.93px;white-space:nowrap">across </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2758.1px;white-space:nowrap">Europe.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:360.18px;white-space:nowrap">strategy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1050.47px;white-space:nowrap">remained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1850.89px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2831.31px;white-space:nowrap">underweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4062.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:0px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:880.75px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1480.87px;white-space:nowrap">duration, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2231.37px;white-space:nowrap">preferring </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3051.74px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3251.87px;white-space:nowrap">hold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3642.19px;white-space:nowrap">short- </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:4152.3px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:0px;white-space:nowrap">intermediate-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1460.48px;letter-spacing:-3.33px;white-space:nowrap">USTs, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1990.55px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2450.74px;white-space:nowrap">holding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3081.27px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3331.49px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:500.36px;white-space:nowrap">long </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:890.68px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1241.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1441.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1741.38px;white-space:nowrap">curve. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2278.3px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2638.48px;white-space:nowrap">strategy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3328.77px;white-space:nowrap">exited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3859.1px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:0px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:730.55px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1431.04px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2221.52px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2421.65px;letter-spacing:-3.99px;white-space:nowrap">USTs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2901.71px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3091.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3392.05px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3732.01px;letter-spacing:-1.1px;white-space:nowrap">quarter. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:360.18px;white-space:nowrap">strategy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1050.47px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1440.79px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1691.02px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2391.5px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3181.99px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3372.1px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3672.33px;white-space:nowrap">eurozone, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:350.33px;white-space:nowrap">instead </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:980.77px;white-space:nowrap">focused </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1661.22px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1911.45px;white-space:nowrap">higher-yielding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3132.16px;white-space:nowrap">local-currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:540.44px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:730.55px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1380.76px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2181.18px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2921.31px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3351.53px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3591.65px;white-space:nowrap">Brazil, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">Mexico, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:670.17px;white-space:nowrap">Colombia, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1530.53px;white-space:nowrap">Indonesia, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2411.19px;white-space:nowrap">India </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2851.52px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3201.86px;white-space:nowrap">Ghana. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3839.06px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4199.24px;white-space:nowrap">team </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:0px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:380.21px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1210.87px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1411px;white-space:nowrap">broadly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2051.37px;white-space:nowrap">avoid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2531.69px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3021.86px;white-space:nowrap">sectors, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3702.04px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:4212.25px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:0px;white-space:nowrap">believed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:720.53px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1160.68px;white-space:nowrap">overvalued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2091.27px;white-space:nowrap">leading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2721.8px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2972.02px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3172.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3472.38px;white-space:nowrap">crisis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3932.31px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:0px;white-space:nowrap">increasingly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1000.46px;white-space:nowrap">vulnerable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1881.04px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2081.16px;white-space:nowrap">insolvencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3111.68px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3351.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3652.03px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:0px;white-space:nowrap">crisis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:459.93px;white-space:nowrap">progressed. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1460.48px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2040.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2340.97px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2941.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3241.58px;white-space:nowrap">team </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3691.76px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:4132.09px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:0px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:740.21px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1570.87px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2351.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2551.29px;white-space:nowrap">actively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3201.5px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3901.99px;white-space:nowrap">currencies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:350.33px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:790.66px;white-space:nowrap">interest-rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1801.05px;white-space:nowrap">swaps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2361.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2561.4px;white-space:nowrap">tactically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3301.61px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:4002.1px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:0px;white-space:nowrap">exposures.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:580.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:880.49px;white-space:nowrap">period, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1480.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1781.1px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2368.13px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3098.67px;white-space:nowrap">absolute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3829.22px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:0px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:370.11px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1100.13px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1450.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1650.59px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2390.8px;white-space:nowrap">positions. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3201.24px;white-space:nowrap">Interest-rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">strategies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:830.39px;white-space:nowrap">contributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1771px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1971.12px;white-space:nowrap">absolute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2701.67px;white-space:nowrap">results, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3331.85px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3792.04px;white-space:nowrap">sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:490.17px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1370.65px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1720.99px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1871.1px;white-space:nowrap">largely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2451.36px;white-space:nowrap">neutral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3051.74px;letter-spacing:-0.41px;white-space:nowrap">effect. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3578.82px;white-space:nowrap">Among </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:0px;white-space:nowrap">currencies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:930.32px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1690.75px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1880.86px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2311.26px;white-space:nowrap">America </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3021.42px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3381.59px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:4121.89px;white-space:nowrap">real </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:340.4px;white-space:nowrap">Argentine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1160.95px;white-space:nowrap">peso) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1661.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2001.62px;white-space:nowrap">Asia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2401.79px;white-space:nowrap">ex-Japan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3192.28px;white-space:nowrap">(Indonesia) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:0px;white-space:nowrap">detracted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:800.51px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1210.52px;white-space:nowrap">absolute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1941.06px;white-space:nowrap">performance. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3048.31px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3408.49px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3995.51px;white-space:nowrap">net-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:0px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:730.55px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1490.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1681.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1981.32px;white-space:nowrap">euro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2391.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2741.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3032.23px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3882.66px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4372.91px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:0px;white-space:nowrap">detracted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:800.51px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1210.52px;white-space:nowrap">absolute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1941.06px;white-space:nowrap">results, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2571.24px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2811.36px;white-space:nowrap">did </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3101.57px;white-space:nowrap">tactical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3711.8px;white-space:nowrap">positioning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:0px;white-space:nowrap">(negative) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:850.43px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1040.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1340.77px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2061.04px;white-space:nowrap">peso. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2551.38px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3351.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3651.94px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:0px;white-space:nowrap">net-positive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:970.49px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1730.92px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1921.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2221.26px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3051.91px;white-space:nowrap">yen </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3392.14px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3742.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:4042.71px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;white-space:nowrap">franc </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:450.18px;white-space:nowrap">contributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1390.78px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1590.91px;white-space:nowrap">absolute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2321.46px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3431.95px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3672.07px;white-space:nowrap">did </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3962.29px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:190.11px;white-space:nowrap">northern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:910.55px;white-space:nowrap">European </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1741.2px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2621.51px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2981.69px;white-space:nowrap">Swedish </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3712.06px;white-space:nowrap">krona </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:4212.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:0px;white-space:nowrap">Norwegian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:910.46px;white-space:nowrap">krone). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1517.43px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1877.61px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2337.89px;white-space:nowrap">maintained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3268.48px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3418.59px;white-space:nowrap">defensive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:0px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:800.6px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1611.12px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2251.41px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2701.58px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2891.69px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3772.44px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:0px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:460.2px;white-space:nowrap">holding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1090.72px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1791.21px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2671.7px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2861.81px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3382.03px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:0px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:740.13px;white-space:nowrap">Select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1290.41px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1990.9px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2871.39px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3061.49px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3491.89px;white-space:nowrap">America </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:0px;white-space:nowrap">(Argentina </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:880.49px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1230.82px;white-space:nowrap">Mexico) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1910.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2251.32px;white-space:nowrap">Asia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2651.48px;white-space:nowrap">ex-Japan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3441.97px;white-space:nowrap">(India </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3942.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:0px;white-space:nowrap">Indonesia) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:890.6px;white-space:nowrap">contributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1831.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2031.33px;white-space:nowrap">absolute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2761.88px;white-space:nowrap">results, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3392.05px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3852.25px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:0px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:700.49px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1490.98px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1691.1px;letter-spacing:-3.99px;white-space:nowrap">USTs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2171.16px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2721.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3021.77px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3361.73px;white-space:nowrap">quarter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3982.06px;white-space:nowrap">detracted. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:0px;white-space:nowrap">On </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:290.13px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:440.24px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1070.51px;white-space:nowrap">basis, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1590.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1890.97px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2351.25px;white-space:nowrap">underperformed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3682px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3912.01px;white-space:nowrap">benchmark </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:0px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:350.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:550.46px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1290.67px;white-space:nowrap">positions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2101.11px;white-space:nowrap">followed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2811.53px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3051.65px;white-space:nowrap">interest-rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:0px;white-space:nowrap">strategies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:880.4px;white-space:nowrap">Sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1740.94px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:2231.1px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3111.59px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3461.92px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3612.04px;white-space:nowrap">largely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:4192.29px;white-space:nowrap">neutral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:0px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:487px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:737.23px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1367.49px;white-space:nowrap">results. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1987.73px;white-space:nowrap">Among </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:2608.07px;white-space:nowrap">currencies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:3538.39px;white-space:nowrap">overweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:0px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:760.43px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:950.54px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1380.94px;white-space:nowrap">America </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:2091.09px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:2451.27px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3191.57px;white-space:nowrap">real </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3541.73px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3882.13px;white-space:nowrap">Argentine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:0px;white-space:nowrap">peso) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:500.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:840.67px;white-space:nowrap">Asia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1240.84px;white-space:nowrap">ex-Japan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:2031.33px;white-space:nowrap">(Indonesia) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:2981.87px;white-space:nowrap">detracted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:3782.37px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:4192.38px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:0px;white-space:nowrap">performance. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:1107.25px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:1467.42px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:2054.44px;white-space:nowrap">underweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:3285.35px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:4045.78px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12018.64px;left:4235.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:0px;white-space:nowrap">euro, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:460.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:750.59px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:1601.02px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:2091.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:2441.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:2741.84px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:3462.1px;white-space:nowrap">peso </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12268.64px;left:3902.43px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:0px;white-space:nowrap">detracted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:800.51px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:1210.52px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:1840.78px;white-space:nowrap">results. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:2470.96px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12518.64px;left:3271.29px;white-space:nowrap">overweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:0px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:760.43px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:950.54px;white-space:nowrap">northern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:1670.98px;white-space:nowrap">European </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:2501.63px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3381.94px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:12768.64px;left:3742.12px;white-space:nowrap">Swedish </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">krona </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5720.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6070.61px;white-space:nowrap">Norwegian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6981.06px;white-space:nowrap">krone) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7541.28px;white-space:nowrap">contributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8481.88px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8682.01px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6330.5px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6570.62px;white-space:nowrap">did </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6860.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7161.06px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7748.09px;white-space:nowrap">overweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8868.78px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5410.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5710.34px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6541px;white-space:nowrap">yen </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6881.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7231.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7531.79px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8051.84px;white-space:nowrap">franc. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8548.77px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8908.95px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">maintained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6150.59px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6300.7px;white-space:nowrap">defensive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7121.25px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7921.85px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8732.37px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9372.66px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5410.11px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6290.86px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7030.99px;white-space:nowrap">while </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7491.18px;white-space:nowrap">holding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8121.71px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8822.2px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9702.69px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5740.22px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6540.64px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7280.77px;white-space:nowrap">Underweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8541.56px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9242.05px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5410.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5710.34px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6110.42px;white-space:nowrap">detracted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6910.93px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7320.94px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7951.2px;white-space:nowrap">results, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8581.38px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8821.49px;white-space:nowrap">did </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9111.71px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5220px;white-space:nowrap">underweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6450.91px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7151.4px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8031.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8221.99px;white-space:nowrap">Europe. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8902.44px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5220px;white-space:nowrap">select </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5740.22px;white-space:nowrap">overweighted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6860.92px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7561.41px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8441.89px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8632px;white-space:nowrap">Latin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:9062.4px;white-space:nowrap">America </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5220px;white-space:nowrap">(Argentina </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6100.49px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6450.82px;white-space:nowrap">Mexico) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7130.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7471.32px;white-space:nowrap">Asia </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7871.48px;white-space:nowrap">ex-Japan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8661.97px;white-space:nowrap">(India </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9162.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5220px;white-space:nowrap">Indonesia) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6110.6px;white-space:nowrap">contributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7051.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7251.33px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7881.59px;white-space:nowrap">performance.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;white-space:nowrap">Thank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5770.28px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6110.51px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6370.58px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6770.74px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7601.4px;white-space:nowrap">participation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8621.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8808.84px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5790.32px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6430.61px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6940.9px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7257.66px;white-space:nowrap">look </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7637.87px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8288.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8488.21px;white-space:nowrap">continuing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:9358.86px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:9558.98px;white-space:nowrap">serve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5220px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5620.17px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6540.56px;white-space:nowrap">needs.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:5220px;letter-spacing:-1.34px;white-space:nowrap">Sincerely,</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:5220px;white-space:nowrap">Michael </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:5890.25px;white-space:nowrap">Hasenstab, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4268.64px;left:6850.81px;white-space:nowrap">Ph.D.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:5220px;white-space:nowrap">Lead </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:5670.44px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4518.64px;left:6380.77px;white-space:nowrap">Manager</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:5220px;white-space:nowrap">Calvin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:5770.2px;white-space:nowrap">Ho</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5198.64px;left:5220px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5198.64px;left:5930.33px;white-space:nowrap">Manager</div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5718.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5718.64px;left:5580.18px;white-space:nowrap">foregoing </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5718.64px;left:6380.77px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5718.64px;left:7321.2px;text-rendering:optimizeLegibility;white-space:nowrap">reflects </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5718.64px;left:7951.38px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5718.64px;left:8261.54px;white-space:nowrap">analysis, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5718.64px;left:9011.87px;white-space:nowrap">opinions </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5968.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5968.64px;left:5570.33px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5968.64px;left:6260.71px;white-space:nowrap">holdings </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5968.64px;left:6981.24px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5968.64px;left:7221.36px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5968.64px;left:7421.48px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5968.64px;left:8301.8px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5968.64px;left:8602.03px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5968.64px;left:9102.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:5968.64px;left:9402.71px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6218.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6218.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6218.64px;left:5720.36px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6218.64px;left:6480.79px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6218.64px;left:7081.17px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6218.64px;left:7441.35px;white-space:nowrap">way </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6218.64px;left:7811.46px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6218.64px;left:8091.56px;white-space:nowrap">implement </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6218.64px;left:8971.88px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6218.64px;left:9282.04px;white-space:nowrap">main </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6468.64px;left:5220px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6468.64px;left:6140.39px;white-space:nowrap">strategies </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6468.64px;left:6970.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6468.64px;left:7321.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6468.64px;left:7621.35px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6468.64px;left:8351.72px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6468.64px;left:9042.1px;white-space:nowrap">holdings </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6718.64px;left:5220px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6718.64px;left:5610.06px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6718.64px;left:6250.61px;white-space:nowrap">depending </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6718.64px;left:7141.46px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6718.64px;left:7391.69px;white-space:nowrap">factors </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6718.64px;left:7981.88px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6718.64px;left:8412.1px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6718.64px;left:8652.22px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6718.64px;left:9252.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6968.64px;left:5220px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6968.64px;left:6040.37px;white-space:nowrap">conditions. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6968.64px;left:6950.92px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6968.64px;left:7501.2px;white-space:nowrap">opinions </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6968.64px;left:8221.73px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6968.64px;left:8611.79px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6968.64px;left:8912.02px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6968.64px;left:9162.25px;white-space:nowrap">relied </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:6968.64px;left:9652.5px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7218.64px;left:5220px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7218.64px;left:5460.12px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7218.64px;left:6380.51px;white-space:nowrap">advice </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7218.64px;left:6950.83px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7218.64px;left:7160.89px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7218.64px;left:7411.11px;white-space:nowrap">offer </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7218.64px;left:7821.3px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7218.64px;left:8081.37px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7218.64px;left:8231.48px;white-space:nowrap">particular </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7218.64px;left:9021.8px;letter-spacing:-1.34px;white-space:nowrap">security. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7218.64px;left:9728.61px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7468.64px;left:5220px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7468.64px;left:6160.43px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7468.64px;left:6340.43px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7468.64px;left:6640.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7468.64px;left:6790.78px;white-space:nowrap">complete </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7468.64px;left:7571.16px;white-space:nowrap">analysis </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7468.64px;left:8271.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7468.64px;left:8471.6px;white-space:nowrap">every </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7468.64px;left:8961.77px;white-space:nowrap">aspect </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7468.64px;left:9542.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7468.64px;left:9742.24px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7718.64px;left:5220px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7718.64px;left:5870.13px;letter-spacing:-1.48px;white-space:nowrap">country, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7718.64px;left:6547.06px;letter-spacing:-1.34px;white-space:nowrap">industry, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7718.64px;left:7263.98px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7718.64px;left:7934.15px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7718.64px;left:8144.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7718.64px;left:8444.44px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7718.64px;left:8954.74px;white-space:nowrap">Statements </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7718.64px;left:9915.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7968.64px;left:5220px;white-space:nowrap">fact </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7968.64px;left:5560.14px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7968.64px;left:5870.3px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7968.64px;left:6280.31px;white-space:nowrap">sources </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7968.64px;left:6960.59px;white-space:nowrap">considered </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7968.64px;left:7891.17px;white-space:nowrap">reliable, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7968.64px;left:8571.53px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7968.64px;left:8871.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:7968.64px;left:9172px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8218.64px;left:5220px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8218.64px;left:5980.43px;white-space:nowrap">makes </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8218.64px;left:6560.6px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8218.64px;left:6810.82px;white-space:nowrap">representation </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8218.64px;left:8011.58px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8218.64px;left:8221.64px;white-space:nowrap">warranty </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8218.64px;left:8961.86px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8218.64px;left:9201.97px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8218.64px;left:9402.1px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8468.64px;left:5220px;white-space:nowrap">completeness </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8468.64px;left:6380.6px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8468.64px;left:6590.65px;letter-spacing:-1.34px;white-space:nowrap">accuracy. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8468.64px;left:7390.9px;white-space:nowrap">Although </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8468.64px;left:8151.5px;white-space:nowrap">historical </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8468.64px;left:8911.76px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8718.64px;left:5220px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8718.64px;left:5400px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8718.64px;left:5650.22px;white-space:nowrap">guarantee </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8718.64px;left:6510.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8718.64px;left:6711.06px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8718.64px;left:7221.36px;white-space:nowrap">results, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8718.64px;left:7851.53px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8718.64px;left:8341.88px;white-space:nowrap">insights </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8718.64px;left:9002.2px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8718.64px;left:9392.26px;white-space:nowrap">help </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8718.64px;left:9782.58px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8968.64px;left:5220px;white-space:nowrap">understand </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8968.64px;left:6170.71px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8968.64px;left:6480.88px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8968.64px;left:7401.27px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:8968.64px;left:8501.92px;letter-spacing:-1.21px;white-space:nowrap">philosophy.</div></div>
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		<div 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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;letter-spacing:-3.33px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:430.22px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:950.45px;text-rendering:optimizeLegibility;white-space:nowrap">reflects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1580.63px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2661.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2861.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3161.43px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3748.45px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4558.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4909.31px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5479.63px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5869.95px;white-space:nowrap">distributions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6930.44px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7070.45px;letter-spacing:-2.67px;white-space:nowrap">any, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7447.32px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7797.66px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8137.88px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9018.46px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9498.78px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">losses. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:606.97px;letter-spacing:-3.33px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1037.2px;white-space:nowrap">returns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1647.42px;white-space:nowrap">do </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1897.65px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2197.88px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2738.06px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3078.28px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3548.5px;white-space:nowrap">charges </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4238.88px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4629.2px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4829.33px;white-space:nowrap">inception </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5599.86px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5809.92px;white-space:nowrap">brokerage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6670.46px;white-space:nowrap">commissions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7760.65px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8150.98px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8401.2px;white-space:nowrap">secondary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9281.69px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">purchases. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:927.25px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1287.42px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2347.91px;white-space:nowrap">table </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2788.24px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3228.57px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3528.81px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4068.98px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4409.21px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4889.44px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5239.69px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5389.8px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6390.44px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6910.75px;white-space:nowrap">pay </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7250.98px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7501.2px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7961.48px;white-space:nowrap">dividends, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8822.02px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9392.34px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">distributions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1060.49px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1200.5px;letter-spacing:-2.67px;white-space:nowrap">any, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1577.37px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1787.43px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2127.66px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2808.02px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3288.34px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3538.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3838.8px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4219.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4419.14px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4879.42px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5516.46px;letter-spacing:-3.3px;white-space:nowrap">Your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5930.16px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6650.68px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7280.95px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7580.92px;white-space:nowrap">vary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7970.98px;white-space:nowrap">depending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8861.84px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9112.06px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:210.06px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:850.34px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1240.66px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1480.78px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2291.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2481.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2781.39px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3368.41px;white-space:nowrap">portfolio, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4108.8px;white-space:nowrap">adjusted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4839.35px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5099.41px;white-space:nowrap">operating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5900.01px;white-space:nowrap">expenses. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6770.57px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7380.88px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7771.2px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8781.68px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9091.85px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9392.08px;text-rendering:optimizeLegibility;white-space:nowrap">profits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:680.36px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1090.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1390.61px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1770.82px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1970.95px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2661.33px;white-space:nowrap">securities.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1804.91px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1804.91px;left:1560.63px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1804.91px;left:1907.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1804.91px;left:2196.54px;white-space:nowrap">12/31/20</div><div style="font-family:Arial, sans-serif;font-size:151.6px;position:absolute;top:1810.13px;left:3208.61px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:0px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:1080.44px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:1480.78px;white-space:nowrap">represent </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:2291.22px;white-space:nowrap">past </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:2681.46px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:3791.95px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:4302.16px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:4742.49px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:5042.72px;white-space:nowrap">guarantee </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:5903.44px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:6413.73px;white-space:nowrap">results. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:7043.91px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:7974.32px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:8494.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:8844.87px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4005.12px;left:9565.22px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:299.97px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuate, </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:1080.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:1430.77px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:1771px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:2161.05px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:2601.39px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:2751.5px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:3141.83px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:3351.88px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:3721.99px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:4202.31px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:4542.54px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:4862.64px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:5262.8px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:5903.09px;white-space:nowrap">Current </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:6553.3px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:7613.79px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:8003.85px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:8454.02px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:8864.03px;text-rendering:optimizeLegibility;white-space:nowrap">figures </div><div style="font-family:Arial, sans-serif;font-size:180px;font-style:italic;position:absolute;top:4255.12px;left:9454.31px;white-space:nowrap">shown.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:4244.47px;white-space:nowrap">Cumulative </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:5151.34px;letter-spacing:-1.98px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:5566.11px;white-space:nowrap">Return</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2218.87px;left:6081.65px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:7384.55px;letter-spacing:-0.74px;white-space:nowrap">Average </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:8048.62px;white-space:nowrap">Annual </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:8635.26px;letter-spacing:-1.98px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2215.66px;left:9050.02px;white-space:nowrap">Return</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2218.87px;left:9565.57px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:4468.84px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:4993.53px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2668.14px;left:4811.18px;letter-spacing:-3.96px;white-space:nowrap">NAV</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2671.36px;left:5137.12px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:6052.84px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:6577.53px;white-space:nowrap">on</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2668.14px;left:5769.48px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2668.14px;left:6338.7px;white-space:nowrap">price</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2671.36px;left:6721.12px;white-space:nowrap">4</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:7780.84px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:8305.53px;white-space:nowrap">on</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2668.14px;left:8123.18px;letter-spacing:-3.96px;white-space:nowrap">NAV</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2671.36px;left:8449.12px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:9364.84px;white-space:nowrap">Based </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2476.14px;left:9889.53px;white-space:nowrap">on</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2668.14px;left:9081.48px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2668.14px;left:9650.7px;white-space:nowrap">price</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2671.36px;left:10033.12px;white-space:nowrap">4</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3074.09px;left:0px;letter-spacing:-2.45px;white-space:nowrap">1-Year</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3074.09px;left:4682.05px;white-space:nowrap">-6.56%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3074.09px;left:6266.05px;white-space:nowrap">-6.63%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3074.09px;left:7994.05px;white-space:nowrap">-6.56%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3074.09px;left:9578.05px;white-space:nowrap">-6.63%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3334.57px;left:0px;letter-spacing:-2.45px;white-space:nowrap">5-Year</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3334.57px;left:4641.89px;white-space:nowrap">+5.33%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3334.57px;left:6148.78px;letter-spacing:-1.7px;white-space:nowrap">+11.43%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3334.57px;left:7953.89px;white-space:nowrap">+1.04%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3334.57px;left:9537.89px;white-space:nowrap">+2.19%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3595.05px;left:0px;letter-spacing:-2.1px;white-space:nowrap">10-Year</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3595.05px;left:4552.91px;white-space:nowrap">+19.51%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3595.05px;left:6225.89px;white-space:nowrap">+3.64%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3595.05px;left:7953.89px;white-space:nowrap">+1.80%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3595.05px;left:9537.89px;white-space:nowrap">+0.36%</div></div>
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		<div style="height:13px;left:36px;position:absolute;top:712px;width:504px">
			<div style="width:10085px;height:116px;position:absolute;top:4.05px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:-21.41px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:-21.41px;left:269.92px;white-space:nowrap">page </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:-21.41px;left:612.66px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:-21.41px;left:823.98px;white-space:nowrap">7 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:-21.41px;left:933.44px;white-space:nowrap">Performance </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:-21.41px;left:1771.95px;white-space:nowrap">Summary </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:-21.41px;left:2406.33px;white-space:nowrap">footnotes.</div></div>
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			<div style="width:10080px;height:912px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8141.27px;letter-spacing:11px;white-space:nowrap">Performance </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9342.06px;letter-spacing:9.64px;white-space:nowrap">Summary</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:644.15px;white-space:nowrap">7</div></div>
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		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5653.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
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		<div 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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:0px;white-space:nowrap">All </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:204.14px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:1006.25px;white-space:nowrap">involve </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:1494.92px;white-space:nowrap">risks, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:1874.3px;white-space:nowrap">including </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:2493.98px;white-space:nowrap">possible </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:3062.81px;white-space:nowrap">loss </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:3361.88px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:3522.19px;white-space:nowrap">principal. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:4142.03px;white-space:nowrap">Changes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:4732.58px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:4885.7px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:5396.09px;white-space:nowrap">rates </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:5746.17px;white-space:nowrap">will </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:5994.22px;white-space:nowrap">affect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:6380.63px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:6613.91px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:6985.94px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:7146.25px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:7379.53px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:7841.33px;white-space:nowrap">portfolio </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:8409.77px;white-space:nowrap">value, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:8818.28px;white-space:nowrap">share </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:9204.84px;white-space:nowrap">price </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1760.28px;left:9554.92px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:0px;white-space:nowrap">yield. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:372.03px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:743.67px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:1166.72px;white-space:nowrap">generally </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:1779.38px;white-space:nowrap">move </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:2158.59px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:2311.72px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:2545px;white-space:nowrap">opposite </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:3128.2px;white-space:nowrap">direction </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:3718.75px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:3879.06px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:4389.45px;white-space:nowrap">rates. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:4771.25px;white-space:nowrap">As </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:4975.39px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:5398.44px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:5558.75px;white-space:nowrap">bonds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:5988.83px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:6141.95px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:6375.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:6732.34px;white-space:nowrap">adjust </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:7155.23px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:7315.55px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:7425px;white-space:nowrap">rise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:7694.92px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:7848.05px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:8358.44px;white-space:nowrap">rates, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:8745px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:8978.28px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:1940.28px;left:9440.08px;white-space:nowrap">share </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:0px;white-space:nowrap">price </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:350.08px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:649.14px;white-space:nowrap">decline. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:1174.3px;white-space:nowrap">Special </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:1670.31px;white-space:nowrap">risks </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:2013.2px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:2246.64px;white-space:nowrap">associated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:2961.41px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:3260.31px;white-space:nowrap">foreign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:3741.41px;white-space:nowrap">investing, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:4390.39px;white-space:nowrap">including </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:5010.08px;white-space:nowrap">currency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:5600.78px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuations, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:6417.27px;white-space:nowrap">economic </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:7066.25px;white-space:nowrap">instability </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:7715.23px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:7985px;white-space:nowrap">political </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:8517.34px;white-space:nowrap">developments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:9436.09px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2120.28px;left:9596.41px;white-space:nowrap">coun-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:0px;white-space:nowrap">tries </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:313.59px;white-space:nowrap">where </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:729.3px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:962.58px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:1319.69px;white-space:nowrap">invests. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:1844.84px;white-space:nowrap">Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:2646.95px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:2800.08px;white-space:nowrap">developing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:3529.22px;white-space:nowrap">markets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:4068.91px;white-space:nowrap">involve </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:4557.58px;white-space:nowrap">heightened </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:5293.91px;white-space:nowrap">risks </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:5636.8px;white-space:nowrap">related </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:6103.52px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:6263.83px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:6497.11px;white-space:nowrap">same </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:6869.14px;white-space:nowrap">factors, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:7379.53px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:7532.66px;white-space:nowrap">addition </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:8079.38px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:8239.69px;white-space:nowrap">those </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:8626.09px;white-space:nowrap">associated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:9340.86px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2300.28px;left:9639.77px;white-space:nowrap">their </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:0px;white-space:nowrap">relatively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:605.47px;white-space:nowrap">small </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:977.5px;white-space:nowrap">size </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:1262.03px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:1531.8px;white-space:nowrap">lesser </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:1947.66px;letter-spacing:-0.87px;white-space:nowrap">liquidity. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:2514.06px;white-space:nowrap">Sovereign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:3184.92px;white-space:nowrap">debt </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:3498.36px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:4147.5px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:4380.94px;white-space:nowrap">subject </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:4876.8px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:5037.11px;white-space:nowrap">various </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:5540.31px;white-space:nowrap">risks </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:5883.2px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:6036.33px;white-space:nowrap">addition </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:6583.05px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:6743.36px;white-space:nowrap">those </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:7129.77px;white-space:nowrap">relating </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:7640.16px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:7800.47px;white-space:nowrap">debt </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:8113.91px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:8763.05px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:9032.81px;white-space:nowrap">foreign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2480.28px;left:9513.91px;white-space:nowrap">securi-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:0px;white-space:nowrap">ties </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:262.58px;letter-spacing:-0.87px;white-space:nowrap">generally, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:902.11px;white-space:nowrap">including, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:1558.28px;white-space:nowrap">but </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:1798.75px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:2039.22px;white-space:nowrap">limited </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:2498.59px;white-space:nowrap">to, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:2695.39px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:2928.67px;white-space:nowrap">risk </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:3198.59px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:3475.55px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:3585px;white-space:nowrap">government </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:4372.34px;white-space:nowrap">entity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:4758.75px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:5057.81px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:5247.42px;white-space:nowrap">unwilling </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:5852.58px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:6020.23px;white-space:nowrap">unable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:6479.61px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:6639.92px;white-space:nowrap">pay </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:6902.5px;white-space:nowrap">interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:7412.89px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:7682.66px;white-space:nowrap">repay </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:8069.22px;white-space:nowrap">principal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:8652.58px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:8849.38px;white-space:nowrap">its </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:9038.98px;white-space:nowrap">sovereign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2660.28px;left:9695.31px;white-space:nowrap">debt, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:167.66px;white-space:nowrap">otherwise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:816.64px;white-space:nowrap">meet </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:1159.38px;white-space:nowrap">its </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:1348.98px;white-space:nowrap">obligations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:2085.31px;white-space:nowrap">when </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:2457.19px;white-space:nowrap">due. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:2763.44px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:3033.2px;white-space:nowrap">markets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:3572.89px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:3784.22px;white-space:nowrap">particular </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:4418.59px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:5067.73px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:5235.39px;white-space:nowrap">types </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:5614.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:5774.92px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:6424.06px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:6657.5px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:6825.16px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:7124.22px;white-space:nowrap">become </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:7656.56px;white-space:nowrap">relatively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:8262.03px;white-space:nowrap">illiquid. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:8757.89px;white-space:nowrap">Reduced </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:2840.28px;left:9348.44px;white-space:nowrap">liquidity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:248.05px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:583.59px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:773.2px;white-space:nowrap">adverse </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:1305.7px;white-space:nowrap">impact </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:1765.08px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:1961.88px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:2195.16px;letter-spacing:-0.43px;white-space:nowrap">security&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:2839.53px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:3211.56px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:3481.33px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:3678.13px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:3911.41px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:4373.2px;white-space:nowrap">ability </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:4788.91px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:4949.22px;white-space:nowrap">sell </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:5204.61px;white-space:nowrap">such </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:5547.34px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:6196.48px;white-space:nowrap">when </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:6568.36px;white-space:nowrap">necessary </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:7246.8px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:7407.11px;white-space:nowrap">meet </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:7749.84px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:7983.13px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:8444.92px;white-space:nowrap">liquidity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:8984.45px;white-space:nowrap">needs </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:9400.16px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3020.28px;left:9567.81px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:0px;white-space:nowrap">response </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:619.84px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:780.16px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:889.61px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:1414.77px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:1881.48px;white-space:nowrap">event. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:2297.19px;white-space:nowrap">Derivatives, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:3070.31px;white-space:nowrap">including </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:3690px;white-space:nowrap">currency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:4280.7px;white-space:nowrap">management </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:5126.48px;white-space:nowrap">strategies, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:5819.3px;white-space:nowrap">involve </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:6307.97px;white-space:nowrap">costs </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:6687.19px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:6956.95px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:7219.53px;white-space:nowrap">create </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:7642.58px;white-space:nowrap">economic </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:8291.56px;white-space:nowrap">leverage </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:8860.55px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:9013.67px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:9246.95px;white-space:nowrap">portfolio </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3200.28px;left:9815.39px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:0px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:299.06px;white-space:nowrap">result </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:692.81px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:845.94px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:1538.59px;white-space:nowrap">volatility </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:2107.42px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:2377.19px;white-space:nowrap">cause </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:2785.7px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:3018.98px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:3376.09px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:3536.41px;white-space:nowrap">participate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:4236.41px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:4389.53px;white-space:nowrap">losses </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:4834.53px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:5031.33px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:5220.94px;white-space:nowrap">amount </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:5731.17px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:6008.13px;white-space:nowrap">exceeds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:6562.58px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:6795.86px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:7257.66px;white-space:nowrap">initial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:7636.88px;white-space:nowrap">investment. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:8402.5px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:8672.27px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:9029.38px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:9328.44px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3380.28px;left:9568.91px;white-space:nowrap">achieve </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:233.28px;white-space:nowrap">anticipated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:962.42px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:1501.95px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:1771.72px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:2070.78px;white-space:nowrap">realize </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:2515.78px;white-space:nowrap">losses </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:2960.78px;white-space:nowrap">when </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:3332.66px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:3442.11px;white-space:nowrap">counterparty </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:4280.47px;white-space:nowrap">fails </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:4579.53px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:4739.84px;white-space:nowrap">perform </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:5271.95px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:5454.38px;white-space:nowrap">promised. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:6113.13px;white-space:nowrap">As </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:6317.27px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:6426.72px;text-rendering:optimizeLegibility;white-space:nowrap">nondiversified </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:7360px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:8089.14px;letter-spacing:-1.07px;white-space:nowrap">company, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:8728.52px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:8961.8px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:9318.91px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3560.28px;left:9617.97px;white-space:nowrap">invest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:153.13px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:262.58px;white-space:nowrap">relatively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:868.05px;white-space:nowrap">small </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:1240.08px;white-space:nowrap">number </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:1757.66px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:1917.97px;white-space:nowrap">issuers </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:2413.98px;white-space:nowrap">and, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:2720.23px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:2902.66px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:3012.11px;white-space:nowrap">result, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:3442.34px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:3631.95px;white-space:nowrap">subject </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:4127.81px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:4288.13px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:4397.58px;white-space:nowrap">greater </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:4878.83px;white-space:nowrap">risk </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:5148.75px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:5309.06px;white-space:nowrap">loss </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:5608.13px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:5907.03px;white-space:nowrap">respect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:6410.23px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:6570.55px;white-space:nowrap">its </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:6760.16px;white-space:nowrap">portfolio </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:7328.59px;white-space:nowrap">securities. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:8014.22px;white-space:nowrap">Unexpected </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:8794.38px;white-space:nowrap">events </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:9246.56px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3740.28px;left:9516.33px;white-space:nowrap">their </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:0px;white-space:nowrap">aftermaths, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:743.67px;white-space:nowrap">such </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:1086.41px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:1268.83px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:1502.11px;white-space:nowrap">spread </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:1968.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:2129.14px;white-space:nowrap">deadly </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:2581.33px;white-space:nowrap">diseases; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:3215.94px;white-space:nowrap">natural, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:3726.33px;white-space:nowrap">environmental </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:4659.61px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:4827.27px;white-space:nowrap">man-made </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:5519.92px;white-space:nowrap">disasters; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:6176.25px;text-rendering:optimizeLegibility;white-space:nowrap">financial, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:6781.56px;white-space:nowrap">political </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:7313.91px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:7481.56px;white-space:nowrap">social </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:7890.08px;white-space:nowrap">disruptions; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:8684.61px;white-space:nowrap">terrorism </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:9297.03px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:3920.28px;left:9566.8px;white-space:nowrap">war; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:269.77px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:634.22px;white-space:nowrap">tragedies </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:1254.06px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:1421.72px;white-space:nowrap">catastrophes, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:2311.33px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:2573.91px;white-space:nowrap">cause </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:2982.42px;white-space:nowrap">investor </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:3529.3px;white-space:nowrap">fear </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:3806.41px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:4076.17px;white-space:nowrap">panic, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:4491.88px;white-space:nowrap">which </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:4900.23px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:5162.81px;white-space:nowrap">adversely </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:5804.77px;white-space:nowrap">affect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:6191.17px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:6424.45px;white-space:nowrap">economies </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:7146.41px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:7306.72px;white-space:nowrap">many </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:7685.94px;white-space:nowrap">companies, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:8444.38px;white-space:nowrap">sectors, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:8984.06px;white-space:nowrap">nations, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4100.28px;left:9523.59px;white-space:nowrap">regions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:269.77px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:503.05px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:969.77px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:1122.89px;white-space:nowrap">general, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:1662.58px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:1815.7px;white-space:nowrap">ways </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:2173.2px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:2450.16px;white-space:nowrap">cannot </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:2916.72px;white-space:nowrap">necessarily </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:3668.13px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:3857.73px;white-space:nowrap">foreseen. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:4477.58px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:4747.34px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:5104.45px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:5250.39px;white-space:nowrap">actively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:5768.36px;white-space:nowrap">managed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:6380.86px;white-space:nowrap">but </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:6621.33px;white-space:nowrap">there </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:6978.59px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:7124.53px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:7321.33px;white-space:nowrap">guarantee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:7984.84px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:8261.8px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:8495.08px;white-space:nowrap">manager&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4280.28px;left:9187.89px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4460.28px;left:0px;white-space:nowrap">decisions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4460.28px;left:641.8px;white-space:nowrap">will </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4460.28px;left:889.84px;white-space:nowrap">produce </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4460.28px;left:1443.91px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4460.28px;left:1677.19px;white-space:nowrap">desired </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4460.28px;left:2180.39px;white-space:nowrap">results.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:269.77px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:626.88px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:925.94px;white-space:nowrap">invest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:1341.64px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:1494.77px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:1895.7px;white-space:nowrap">Interbank </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:2522.73px;white-space:nowrap">bonds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:2952.81px;white-space:nowrap">traded </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:3390.23px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:3587.03px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:3820.31px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:4221.25px;white-space:nowrap">Interbank </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:4848.28px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:5219.92px;white-space:nowrap">Market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:5679.3px;white-space:nowrap">(&#8220;CIBM&#8221;) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:6269.53px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:6801.48px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:7034.77px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:7435.7px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:7545.16px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:7916.8px;white-space:nowrap">Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:8288.44px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:8660.08px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4820.28px;left:9221.33px;white-space:nowrap">program </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:0px;white-space:nowrap">(&#8220;Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:480.94px;white-space:nowrap">Connect&#8221;). </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:1187.97px;white-space:nowrap">In </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:1341.09px;white-space:nowrap">China, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:1778.52px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:2011.8px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:2383.44px;white-space:nowrap">Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:2755.08px;white-space:nowrap">Monetary </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:3370px;white-space:nowrap">Authority </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:3989.45px;white-space:nowrap">Central </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:4477.89px;white-space:nowrap">Money </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:4929.92px;white-space:nowrap">Markets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:5462.27px;white-space:nowrap">Unit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:5753.75px;white-space:nowrap">holds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:6140.16px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:6511.8px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:7073.05px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:7722.19px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:7918.98px;white-space:nowrap">behalf </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:8341.88px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:8502.19px;white-space:nowrap">ultimate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:9041.72px;white-space:nowrap">investors </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5000.28px;left:9661.56px;white-space:nowrap">(such </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:182.42px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:415.7px;white-space:nowrap">Fund) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:816.48px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:969.61px;white-space:nowrap">accounts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:1582.11px;white-space:nowrap">maintained </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:2311.25px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:2610.16px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:2719.61px;white-space:nowrap">China-based </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:3543.44px;white-space:nowrap">custodian </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:4199.61px;white-space:nowrap">(either </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:4637.03px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:4870.31px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:5271.25px;white-space:nowrap">Central </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:5759.69px;white-space:nowrap">Depository </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:6481.41px;white-space:nowrap">&amp; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:6612.58px;white-space:nowrap">Clearing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:7173.98px;white-space:nowrap">Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:7421.8px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:7589.45px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:7822.73px;white-space:nowrap">Shanghai </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:8449.77px;white-space:nowrap">Clearing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:9011.17px;white-space:nowrap">House). </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:9528.75px;white-space:nowrap">This </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5180.28px;left:9835px;white-space:nowrap">re-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:0px;white-space:nowrap">cordkeeping </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:816.64px;white-space:nowrap">system </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:1305.31px;white-space:nowrap">subjects </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:1874.14px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:2107.42px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:2464.53px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:2624.84px;white-space:nowrap">various </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:3128.05px;white-space:nowrap">risks, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:3507.42px;white-space:nowrap">including </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:4127.11px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:4360.39px;white-space:nowrap">risk </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:4630.31px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:4907.27px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:5140.55px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:5497.66px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:5796.72px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:6132.27px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:6241.72px;white-space:nowrap">limited </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:6701.09px;white-space:nowrap">ability </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:7116.8px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:7277.11px;white-space:nowrap">enforce </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:7787.5px;white-space:nowrap">rights </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:8188.44px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:8370.86px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:8480.31px;white-space:nowrap">bondholder </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:9238.36px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:9508.13px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5360.28px;left:9741.41px;white-space:nowrap">risks </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:160.21px;letter-spacing:0px;white-space:nowrap">settlement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:852.77px;white-space:nowrap">delays </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:1297.67px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:1567.34px;white-space:nowrap">counterparty </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:2405.6px;white-space:nowrap">default </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:2872.07px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:3032.28px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:3265.46px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:3637px;white-space:nowrap">Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:4008.55px;white-space:nowrap">sub-custodian. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:4978.06px;white-space:nowrap">In </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:5131.08px;white-space:nowrap">addition, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:5714.19px;white-space:nowrap">enforcing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:6348.31px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:6581.49px;white-space:nowrap">ownership </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:7274.05px;white-space:nowrap">rights </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:7674.89px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:7835.1px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:7944.46px;text-rendering:optimizeLegibility;white-space:nowrap">beneficial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:8586.15px;white-space:nowrap">holder </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:9023.48px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:9183.69px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5540.28px;left:9555.23px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:649.14px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:795.08px;white-space:nowrap">untested </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:1378.28px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:1648.05px;white-space:nowrap">courts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:2085.47px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:2238.59px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:2639.53px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:2975.08px;white-space:nowrap">limited </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:3434.45px;white-space:nowrap">experience </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:4156.56px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:4309.69px;white-space:nowrap">applying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:4885.7px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:5118.98px;white-space:nowrap">concept </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:5658.52px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:5818.83px;text-rendering:optimizeLegibility;white-space:nowrap">beneficial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:6460.63px;white-space:nowrap">ownership. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:7189.77px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:7561.41px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:8122.66px;white-space:nowrap">uses </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:8458.2px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:8691.48px;white-space:nowrap">trading </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5720.28px;left:9172.58px;white-space:nowrap">infrastructure </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:160.31px;white-space:nowrap">both </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:480.94px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:852.58px;white-space:nowrap">Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:1224.22px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:1493.98px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:1894.92px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:2164.69px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:2310.63px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:2551.09px;white-space:nowrap">available </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:3142.03px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:3338.83px;white-space:nowrap">trading </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:3819.92px;white-space:nowrap">holidays </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:4388.75px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:4541.88px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:4913.52px;white-space:nowrap">Kong. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:5316.88px;white-space:nowrap">As </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:5521.02px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:5630.47px;white-space:nowrap">result, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:6060.7px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:6483.75px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:6644.06px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:7293.2px;white-space:nowrap">purchased </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:7993.2px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:8525.16px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:8896.8px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5900.28px;left:9458.05px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:583.2px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:736.33px;white-space:nowrap">times </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:1115.55px;white-space:nowrap">when </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:1487.42px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:1596.88px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:1953.98px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:2099.92px;white-space:nowrap">unable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:2559.3px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:2719.61px;white-space:nowrap">add </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:2989.38px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:3149.69px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:3317.34px;white-space:nowrap">exit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:3579.92px;white-space:nowrap">its </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:3769.53px;white-space:nowrap">position. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:4352.73px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:5016.41px;white-space:nowrap">offered </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:5497.5px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:6029.45px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:6401.09px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:6962.34px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:7261.41px;white-space:nowrap">lose </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:7560.47px;white-space:nowrap">their </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:7881.25px;white-space:nowrap">eligibility </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:8486.56px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:8697.89px;white-space:nowrap">trading </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:9178.98px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6080.28px;left:9710.94px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:0px;white-space:nowrap">program </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:568.59px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:721.72px;white-space:nowrap">any </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:984.3px;white-space:nowrap">time. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:1327.03px;white-space:nowrap">If </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:1443.67px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:1815.31px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:2376.56px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:3025.7px;white-space:nowrap">lose </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:3324.77px;white-space:nowrap">their </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:3645.55px;white-space:nowrap">eligibility </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:4250.86px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:4462.19px;white-space:nowrap">trading </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:4943.28px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:5475.23px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:5708.52px;white-space:nowrap">program, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:6313.59px;white-space:nowrap">they </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:6619.84px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:6918.91px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:7108.52px;white-space:nowrap">sold </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:7414.77px;white-space:nowrap">but </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:7655.23px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:7917.81px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:8114.61px;white-space:nowrap">longer </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:8552.03px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:8741.64px;white-space:nowrap">purchased </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6260.28px;left:9441.64px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6440.28px;left:0px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6440.28px;left:371.64px;white-space:nowrap">Connect.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:0px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:371.64px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:932.89px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:1078.83px;white-space:nowrap">subject </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:1574.69px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:1735px;white-space:nowrap">regulation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:2405.7px;white-space:nowrap">by </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:2595.31px;white-space:nowrap">both </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:2915.94px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:3287.58px;white-space:nowrap">Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:3659.22px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:3928.98px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:4329.92px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:4599.69px;white-space:nowrap">there </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:4956.95px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:5219.53px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:5409.14px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:5605.94px;white-space:nowrap">assurance </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:6291.56px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:6568.52px;white-space:nowrap">further </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:7027.66px;white-space:nowrap">regulations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:7771.33px;white-space:nowrap">will </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:8019.38px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:8259.84px;white-space:nowrap">affect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:8646.25px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:8879.53px;white-space:nowrap">availability </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:9587.11px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6800.28px;left:9747.42px;white-space:nowrap">se-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:0px;white-space:nowrap">curities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:503.2px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:656.33px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:889.61px;white-space:nowrap">program, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:1494.69px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:1727.97px;white-space:nowrap">frequency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:2391.48px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:2551.8px;white-space:nowrap">redemptions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:3375.63px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:3543.28px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:3907.73px;white-space:nowrap">limitations. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:4636.88px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:5008.52px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:5569.77px;white-space:nowrap">trades </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:6000px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:6233.44px;white-space:nowrap">settled </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:6692.81px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:6845.94px;white-space:nowrap">Chinese </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:7392.81px;letter-spacing:-0.96px;white-space:nowrap">currency, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:8010.39px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:8243.67px;white-space:nowrap">renminbi </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:8834.22px;white-space:nowrap">(&#8220;RMB&#8221;). </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:9424.45px;white-space:nowrap">It </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6980.28px;left:9541.09px;white-space:nowrap">cannot </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:0px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:189.61px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:933.28px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:1210.23px;white-space:nowrap">investors </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:1830.08px;white-space:nowrap">will </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:2078.13px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:2413.67px;white-space:nowrap">timely </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:2829.38px;white-space:nowrap">access </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:3303.67px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:3463.98px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:3573.44px;white-space:nowrap">reliable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:4069.45px;white-space:nowrap">supply </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:4528.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:4689.14px;white-space:nowrap">RMB </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:5024.3px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:5177.42px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:5549.06px;white-space:nowrap">Kong. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:5957.19px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:6328.83px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:6890.08px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:7036.02px;white-space:nowrap">relatively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:7641.48px;white-space:nowrap">new </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:7933.2px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:8202.97px;white-space:nowrap">its </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:8392.58px;white-space:nowrap">effects </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:8851.95px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:9048.75px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7160.28px;left:9282.03px;white-space:nowrap">Chinese </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:0px;white-space:nowrap">interbank </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:627.03px;white-space:nowrap">bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:984.14px;white-space:nowrap">market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:1450.86px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:1684.3px;white-space:nowrap">uncertain. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:2347.81px;white-space:nowrap">In </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:2500.94px;white-space:nowrap">addition, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:3084.14px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:3317.42px;white-space:nowrap">trading, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:3835px;white-space:nowrap">settlement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:4527.66px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:4797.42px;white-space:nowrap">IT </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:4950.55px;white-space:nowrap">systems </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:5512.19px;white-space:nowrap">required </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:6073.59px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:6284.92px;white-space:nowrap">non-Chinese </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:7115.94px;white-space:nowrap">investors </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:7735.78px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:7888.91px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:8260.55px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:8821.8px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:9055.23px;white-space:nowrap">relatively </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7340.28px;left:9660.7px;letter-spacing:-0.95px;white-space:nowrap">new. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:153.13px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:386.41px;white-space:nowrap">event </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:765.63px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:925.94px;white-space:nowrap">systems </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:1487.58px;white-space:nowrap">malfunctions, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:2377.03px;white-space:nowrap">trading </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:2858.13px;white-space:nowrap">via </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:3077.03px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:3448.67px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:4009.92px;white-space:nowrap">could </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:4396.33px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:4585.94px;white-space:nowrap">disrupted. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:5256.64px;white-space:nowrap">In </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:5409.77px;white-space:nowrap">addition, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:5992.97px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:6226.25px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:6597.89px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:7159.14px;white-space:nowrap">program </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:7727.73px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:8026.8px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:8216.41px;white-space:nowrap">subject </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:8712.27px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:8872.58px;white-space:nowrap">further </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7520.28px;left:9331.72px;white-space:nowrap">interpre-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:0px;white-space:nowrap">tation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:393.59px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:663.36px;white-space:nowrap">guidance. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:1312.34px;white-space:nowrap">There </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:1706.09px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:1968.67px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:2158.28px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:2355.08px;white-space:nowrap">assurance </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:3040.7px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:3223.13px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:3383.44px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:3616.72px;letter-spacing:-0.48px;white-space:nowrap">program&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:4290px;white-space:nowrap">continued </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:4953.36px;white-space:nowrap">existence </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:5587.97px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:5755.63px;white-space:nowrap">whether </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:6295.16px;white-space:nowrap">future </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:6703.28px;white-space:nowrap">developments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:7622.03px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:8263.59px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:8496.88px;white-space:nowrap">program </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:9065.47px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:9364.53px;white-space:nowrap">restrict </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7700.28px;left:9845.78px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:0px;white-space:nowrap">adversely </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:641.95px;white-space:nowrap">affect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:1028.36px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:1261.64px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:1723.44px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:2525.55px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:2693.2px;white-space:nowrap">returns. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:3218.13px;letter-spacing:-1.07px;white-space:nowrap">Finally, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:3697.19px;white-space:nowrap">uncertainties </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:4550.31px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:4703.44px;white-space:nowrap">China </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:5104.38px;white-space:nowrap">tax </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:5330.47px;white-space:nowrap">rules </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:5680.55px;white-space:nowrap">governing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:6351.25px;white-space:nowrap">taxation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:6890.78px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:7051.09px;white-space:nowrap">income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:7546.95px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:7816.72px;white-space:nowrap">gains </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:8195.94px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:8523.91px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:9326.02px;white-space:nowrap">via </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7880.28px;left:9544.92px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8060.28px;left:0px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8060.28px;left:561.25px;white-space:nowrap">could </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8060.28px;left:947.66px;white-space:nowrap">result </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8060.28px;left:1341.41px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8060.28px;left:1494.53px;white-space:nowrap">unexpected </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8060.28px;left:2260.16px;white-space:nowrap">tax </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8060.28px;left:2486.25px;white-space:nowrap">liabilities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8060.28px;left:3084.38px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8060.28px;left:3295.7px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8060.28px;left:3405.16px;white-space:nowrap">Fund.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:269.77px;white-space:nowrap">application </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:998.91px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:1268.67px;white-space:nowrap">interpretation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:2150.7px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:2311.02px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:2544.3px;white-space:nowrap">laws </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:2865.31px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:3135.08px;white-space:nowrap">regulations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:3878.75px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:4039.06px;white-space:nowrap">Hong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:4410.7px;white-space:nowrap">Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:4782.34px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:5052.11px;white-space:nowrap">China, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:5489.53px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:5759.3px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:5992.58px;white-space:nowrap">rules, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:6379.14px;white-space:nowrap">policies </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:6904.3px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:7071.95px;white-space:nowrap">guidelines </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:7757.42px;white-space:nowrap">published </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:8413.59px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:8581.25px;white-space:nowrap">applied </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:9077.11px;white-space:nowrap">by </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8420.28px;left:9266.72px;white-space:nowrap">relevant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:0px;white-space:nowrap">regulators </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:678.05px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:947.81px;white-space:nowrap">exchanges </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:1662.58px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:1815.7px;white-space:nowrap">respect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:2318.91px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:2479.22px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:2712.5px;white-space:nowrap">Bond </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:3084.14px;white-space:nowrap">Connect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:3645.39px;white-space:nowrap">program, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:4250.47px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:4483.91px;white-space:nowrap">uncertain, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:5147.42px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:5417.19px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:5716.25px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:6051.8px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:6161.25px;white-space:nowrap">detrimental </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:6904.92px;white-space:nowrap">effect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:7291.33px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:7488.13px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:7721.41px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:8183.2px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:8985.31px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8600.28px;left:9255.08px;white-space:nowrap">returns.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:0px;white-space:nowrap">1. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:143.67px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:406.25px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:741.8px;white-space:nowrap">has </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:989.84px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:1099.3px;white-space:nowrap">fee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:1318.2px;white-space:nowrap">waiver </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:1733.75px;white-space:nowrap">associated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:2397.58px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:2667.34px;white-space:nowrap">any </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:2915.39px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:3586.41px;white-space:nowrap">it </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:3688.52px;white-space:nowrap">makes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:4111.48px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:4250.08px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:4359.53px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:4860.39px;letter-spacing:-1.45px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:5502.27px;white-space:nowrap">money </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:5932.58px;white-space:nowrap">fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:6224.45px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:6632.97px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:6968.52px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:7469.38px;letter-spacing:-1.45px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:8111.25px;white-space:nowrap">fund, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:8439.61px;white-space:nowrap">contractually </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:8960.28px;left:9212.73px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:0px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:481.48px;white-space:nowrap">2/28/22. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:992.27px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:1327.81px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:1998.83px;white-space:nowrap">results </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:2421.8px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:2815.63px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:3034.53px;white-space:nowrap">fee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:3253.44px;white-space:nowrap">waiver; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:3705.47px;white-space:nowrap">without </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:4157.66px;white-space:nowrap">this </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:4398.36px;letter-spacing:-0.9px;white-space:nowrap">waiver, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:4843.2px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:5062.11px;white-space:nowrap">results </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:5485.08px;white-space:nowrap">would </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:5864.3px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:6185.31px;white-space:nowrap">been </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9140.28px;left:6513.67px;letter-spacing:-1.2px;white-space:nowrap">lower.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:0px;white-space:nowrap">2. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:143.67px;letter-spacing:-2.42px;white-space:nowrap">Total </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:457.34px;white-space:nowrap">return </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:836.56px;white-space:nowrap">calculations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:1558.67px;white-space:nowrap">represent </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:2149.45px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:2368.36px;white-space:nowrap">cumulative </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:3032.03px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:3287.42px;white-space:nowrap">average </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:3798.05px;white-space:nowrap">annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:4228.52px;white-space:nowrap">changes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:4761.09px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:4899.69px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:5249.84px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:5395.78px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:5578.2px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:6249.22px;white-space:nowrap">over </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:6540.94px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:6759.84px;white-space:nowrap">periods </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:7226.64px;white-space:nowrap">indicated. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:7824.84px;white-space:nowrap">Return </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:8255.08px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:8444.69px;white-space:nowrap">less </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:8714.53px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:9006.41px;white-space:nowrap">one </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:9261.8px;letter-spacing:-1.2px;white-space:nowrap">year, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:9582.81px;white-space:nowrap">if </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9349.08px;left:9684.92px;letter-spacing:-1.92px;white-space:nowrap">any, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9529.08px;left:0px;white-space:nowrap">has </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9529.08px;left:248.05px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9529.08px;left:466.95px;white-space:nowrap">been </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9529.08px;left:795.31px;white-space:nowrap">annualized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9737.88px;left:0px;white-space:nowrap">3. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9737.88px;left:138.75px;white-space:nowrap">Assumes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9737.88px;left:714.84px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9737.88px;left:1502.5px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9737.88px;left:1648.44px;white-space:nowrap">distributions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9737.88px;left:2385.08px;white-space:nowrap">based </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9737.88px;left:2779.06px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9737.88px;left:2961.48px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9737.88px;left:3180.39px;white-space:nowrap">asset </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9737.88px;left:3530.55px;white-space:nowrap">value.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:0px;white-space:nowrap">4. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:138.75px;white-space:nowrap">Assumes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:714.84px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:1502.5px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:1648.44px;white-space:nowrap">distributions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:2385.08px;white-space:nowrap">based </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:2779.06px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:2961.48px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:3180.39px;white-space:nowrap">dividend </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:3705.63px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:4493.28px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:4748.67px;white-space:nowrap">cash </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:5062.34px;white-space:nowrap">purchase </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9946.68px;left:5638.59px;white-space:nowrap">plan.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:41.15px;left:0px;white-space:nowrap">Distributions</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:125.82px;left:1474.96px;white-space:nowrap">(1/1/20&#8211;12/31/20)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:531.76px;left:5765.05px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:531.76px;left:6067.31px;white-space:nowrap">Investment</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:723.76px;left:6351.84px;white-space:nowrap">Income</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:531.76px;left:7672.17px;letter-spacing:-2.97px;white-space:nowrap">Tax </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:531.76px;left:7980.45px;white-space:nowrap">Return</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:723.76px;left:7767.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:723.76px;left:7962.56px;white-space:nowrap">Capital</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:723.76px;left:9709.69px;letter-spacing:-2.37px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1060.7px;left:6333.64px;white-space:nowrap">$0.0278</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1060.7px;left:7917.64px;white-space:nowrap">$0.1920</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1060.7px;left:9501.64px;white-space:nowrap">$0.2198</div></div>
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				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:994.69px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1257.27px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2139.84px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2497.34px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2723.44px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2905.86px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3372.66px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3635.23px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3781.17px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4138.67px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4656.56px;white-space:nowrap">statements.</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">8</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:437.02px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:4493.72px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:4876.3px;white-space:nowrap">Ended </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:5409.66px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:6227.86px;white-space:nowrap">31,</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:8148.09px;white-space:nowrap">2016</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:440.23px;left:8504.03px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:9068.26px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:9450.84px;white-space:nowrap">Ended </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9095.05px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9690.52px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:9326.03px;white-space:nowrap">2016</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:3566.03px;white-space:nowrap">2020</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:4718.03px;white-space:nowrap">2019</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:5870.03px;white-space:nowrap">2018</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:7022.03px;white-space:nowrap">2017</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:749.96px;left:0px;white-space:nowrap">Per </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:749.96px;left:302.42px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:749.96px;left:773.83px;white-space:nowrap">operating </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:749.96px;left:1547.19px;white-space:nowrap">performance</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:952.44px;left:0px;white-space:nowrap">(for </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:952.44px;left:284.45px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:952.44px;left:417.89px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:952.44px;left:862.58px;white-space:nowrap">outstanding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:952.44px;left:1734.38px;white-space:nowrap">throughout </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:952.44px;left:2543.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1144.44px;left:144px;white-space:nowrap">year)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:293.44px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:720.31px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:1191.72px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:1930.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:2108.05px;white-space:nowrap">year</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:2428.74px;letter-spacing:54.16px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:3919.61px;white-space:nowrap">$6.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:5071.61px;white-space:nowrap">$7.04</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:6223.61px;white-space:nowrap">$7.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:7375.61px;white-space:nowrap">$7.34</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:8527.61px;white-space:nowrap">$7.09</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1346.92px;left:9679.61px;white-space:nowrap">$7.38</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1549.41px;left:0px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1549.41px;left:569.14px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1549.41px;left:933.59px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1549.41px;left:1751.72px;white-space:nowrap">operations:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1751.89px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1751.89px;left:437.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1751.89px;left:1255.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1755.1px;left:1771.34px;white-space:nowrap">b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1751.89px;left:1868.26px;letter-spacing:51.76px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1751.89px;left:4008.59px;white-space:nowrap">0.21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1751.89px;left:5160.59px;white-space:nowrap">0.38</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1751.89px;left:6312.59px;white-space:nowrap">0.37</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1751.89px;left:7464.59px;white-space:nowrap">0.36</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1751.89px;left:8616.59px;white-space:nowrap">0.10</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1751.89px;left:9768.59px;white-space:nowrap">0.31</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.38px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.38px;left:437.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.38px;left:1042.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.38px;left:1353.61px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.38px;left:2136.34px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.38px;left:2563.3px;white-space:nowrap">(losses)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.38px;left:3902.03px;white-space:nowrap">(0.63)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.38px;left:5054.03px;white-space:nowrap">(0.26)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.38px;left:6206.03px;white-space:nowrap">(0.23)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.38px;left:7358.03px;white-space:nowrap">(0.16)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.38px;left:8616.59px;white-space:nowrap">0.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.38px;left:9662.03px;white-space:nowrap">(0.30)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2185.86px;left:0px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2185.86px;left:382.42px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2185.86px;left:746.88px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2185.86px;left:1565px;white-space:nowrap">operations</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2185.86px;left:2335.33px;letter-spacing:53.51px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2185.86px;left:3902.03px;white-space:nowrap">(0.42)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2185.86px;left:5160.59px;white-space:nowrap">0.12</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2185.86px;left:6312.59px;white-space:nowrap">0.14</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2185.86px;left:7464.59px;white-space:nowrap">0.20</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2185.86px;left:8616.59px;white-space:nowrap">0.35</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2185.86px;left:9768.59px;white-space:nowrap">0.01</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2417.35px;left:0px;white-space:nowrap">Less </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2417.35px;left:382.42px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2417.35px;left:1280.63px;white-space:nowrap">from:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2619.83px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2619.83px;left:437.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2619.83px;left:1255.56px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2619.83px;left:1815.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2619.83px;left:2127.2px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2619.83px;left:2394.08px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2811.83px;left:144px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2811.83px;left:801.97px;white-space:nowrap">gains</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2811.83px;left:1214.37px;letter-spacing:50.78px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2811.83px;left:3902.03px;white-space:nowrap">(0.03)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2811.83px;left:5054.03px;white-space:nowrap">(0.41)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2811.83px;left:6206.03px;white-space:nowrap">(0.26)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2811.83px;left:7358.03px;white-space:nowrap">(0.29)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2811.83px;left:8768px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2811.83px;left:9673.91px;letter-spacing:-1.98px;white-space:nowrap">(0.11)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3014.32px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3014.32px;left:437.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3014.32px;left:1042.2px;white-space:nowrap">gains</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3014.32px;left:1494.61px;letter-spacing:51.1px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3014.32px;left:4160px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3014.32px;left:5312px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3014.32px;left:6464px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3014.32px;left:7616px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3014.32px;left:8768px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3014.32px;left:9662.03px;white-space:nowrap">(0.02)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3216.8px;left:144px;letter-spacing:-4.43px;white-space:nowrap">Tax </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3216.8px;left:437.44px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3216.8px;left:899.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3216.8px;left:1077.75px;white-space:nowrap">capital</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3216.8px;left:1588.02px;letter-spacing:51.24px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3216.8px;left:3902.03px;white-space:nowrap">(0.19)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3216.8px;left:5312px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3216.8px;left:6206.03px;white-space:nowrap">(0.09)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3216.8px;left:7616px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3216.8px;left:8510.03px;white-space:nowrap">(0.10)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3216.8px;left:9662.03px;white-space:nowrap">(0.17)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3448.28px;left:0px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3448.28px;left:382.42px;white-space:nowrap">distributions</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3448.28px;left:1307.78px;letter-spacing:50.88px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3448.28px;left:3902.03px;white-space:nowrap">(0.22)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3448.28px;left:5054.03px;white-space:nowrap">(0.41)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3448.28px;left:6206.03px;white-space:nowrap">(0.35)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3448.28px;left:7358.03px;white-space:nowrap">(0.29)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3448.28px;left:8510.03px;white-space:nowrap">(0.10)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3448.28px;left:9662.03px;white-space:nowrap">(0.30)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:293.44px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:720.31px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:1191.72px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:1503.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:1681.02px;white-space:nowrap">year</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:2055.09px;letter-spacing:52.27px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:3931.48px;letter-spacing:-2.37px;white-space:nowrap">$6.11</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:5071.61px;white-space:nowrap">$6.75</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:6223.61px;white-space:nowrap">$7.04</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:7375.61px;white-space:nowrap">$7.25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:8527.61px;white-space:nowrap">$7.34</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.77px;left:9679.61px;white-space:nowrap">$7.09</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3969.25px;left:0px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3969.25px;left:533.44px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3969.25px;left:1004.84px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3969.25px;left:1316.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3969.25px;left:1494.14px;white-space:nowrap">year</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:3972.46px;left:1805.39px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3969.25px;left:1868.26px;letter-spacing:51.76px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3969.25px;left:3919.61px;white-space:nowrap">$5.50</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3969.25px;left:5071.61px;white-space:nowrap">$6.13</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3969.25px;left:6223.61px;white-space:nowrap">$6.03</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3969.25px;left:7375.61px;white-space:nowrap">$6.46</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3969.25px;left:8527.61px;white-space:nowrap">$6.48</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3969.25px;left:9679.61px;white-space:nowrap">$6.43</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4288.19px;left:0px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4288.19px;left:382.42px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4288.19px;left:844.84px;white-space:nowrap">(based </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4288.19px;left:1378.52px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4288.19px;left:1600.94px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4288.19px;left:2134.38px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4288.19px;left:2561.33px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4480.19px;left:0px;white-space:nowrap">share)</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4483.4px;left:453.52px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4480.19px;left:560.48px;letter-spacing:50.31px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4480.19px;left:3759.77px;white-space:nowrap">(6.63)%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4480.19px;left:5018.33px;white-space:nowrap">8.52%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4480.19px;left:6063.77px;white-space:nowrap">(1.24)%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4480.19px;left:7322.33px;white-space:nowrap">4.10%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4480.19px;left:8474.33px;white-space:nowrap">2.38%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4480.19px;left:9626.33px;white-space:nowrap">8.35%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4770.13px;left:0px;white-space:nowrap">Ratios </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4770.13px;left:533.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4770.13px;left:728.91px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4770.13px;left:1378.28px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4770.13px;left:1662.73px;white-space:nowrap">assets</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:4773.34px;left:2160.94px;white-space:nowrap">e</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4972.62px;left:0px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4972.62px;left:747.11px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4972.62px;left:1245.23px;white-space:nowrap">waiver </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4972.62px;left:1752.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4972.62px;left:2063.44px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4972.62px;left:2801.56px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5164.62px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5164.62px;left:631.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5164.62px;left:942.81px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5164.62px;left:1592.19px;white-space:nowrap">reduction</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5164.62px;left:2335.33px;letter-spacing:53.51px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5164.62px;left:3866.33px;white-space:nowrap">0.75%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5164.62px;left:5018.33px;white-space:nowrap">0.75%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5164.62px;left:6170.33px;white-space:nowrap">0.79%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5164.62px;left:7322.33px;white-space:nowrap">0.76%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5164.62px;left:8474.33px;white-space:nowrap">0.73%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5164.62px;left:9626.33px;white-space:nowrap">0.76%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5367.1px;left:0px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5367.1px;left:747.11px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5367.1px;left:1013.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5367.1px;left:1191.88px;white-space:nowrap">waiver </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5367.1px;left:1698.67px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5367.1px;left:2010.08px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5367.1px;left:2748.2px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5559.1px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5559.1px;left:653.89px;letter-spacing:50.36px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5559.1px;left:3866.33px;white-space:nowrap">0.71%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5559.1px;left:5018.33px;white-space:nowrap">0.67%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5559.1px;left:6170.33px;white-space:nowrap">0.71%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5559.1px;left:7322.33px;white-space:nowrap">0.70%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5559.1px;left:8474.33px;white-space:nowrap">0.69%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5559.1px;left:9626.33px;white-space:nowrap">0.73%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5761.59px;left:0px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5761.59px;left:747.11px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5761.59px;left:1013.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5761.59px;left:1191.88px;white-space:nowrap">waiver </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5761.59px;left:1698.67px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5761.59px;left:2010.08px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5761.59px;left:2748.2px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5953.59px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5953.59px;left:631.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5953.59px;left:942.81px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5953.59px;left:1592.19px;white-space:nowrap">reduction</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5953.59px;left:2335.33px;letter-spacing:53.51px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5953.59px;left:3866.33px;white-space:nowrap">0.71%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5953.59px;left:5018.33px;white-space:nowrap">0.67%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5953.59px;left:6144.41px;white-space:nowrap">0.71%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5956.8px;left:6598.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5953.59px;left:7322.33px;white-space:nowrap">0.69%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5953.59px;left:8474.33px;white-space:nowrap">0.68%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5953.59px;left:9600.41px;white-space:nowrap">0.73%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5956.8px;left:10054.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6156.07px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6156.07px;left:293.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6156.07px;left:1111.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6156.07px;left:1681.44px;letter-spacing:51.39px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6156.07px;left:3866.33px;white-space:nowrap">3.36%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6156.07px;left:5018.33px;white-space:nowrap">5.49%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6156.07px;left:6170.33px;white-space:nowrap">5.18%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6156.07px;left:7322.33px;white-space:nowrap">4.84%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6156.07px;left:8474.33px;white-space:nowrap">4.31%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6156.07px;left:9626.33px;white-space:nowrap">4.38%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6446.01px;left:0px;white-space:nowrap">Supplemental </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6446.01px;left:1093.52px;white-space:nowrap">data</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:293.44px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:844.77px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:1156.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:1334.06px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:1689.77px;letter-spacing:-0.41px;white-space:nowrap">(000&#8217;s)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:2241.91px;letter-spacing:53.01px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:3652.66px;white-space:nowrap">$819,181</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:4804.66px;white-space:nowrap">$905,378</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:5956.66px;white-space:nowrap">$944,988</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:7108.66px;white-space:nowrap">$972,791</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:8260.66px;white-space:nowrap">$984,355</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6648.5px;left:9412.66px;white-space:nowrap">$951,191</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6850.98px;left:0px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6850.98px;left:631.41px;white-space:nowrap">turnover </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6850.98px;left:1262.81px;white-space:nowrap">rate</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6850.98px;left:1588.02px;letter-spacing:51.24px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6850.98px;left:3777.34px;white-space:nowrap">42.51%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6850.98px;left:4929.34px;white-space:nowrap">21.99%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6850.98px;left:6081.34px;white-space:nowrap">35.47%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6850.98px;left:7233.34px;white-space:nowrap">42.34%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6850.98px;left:8385.34px;white-space:nowrap">25.94%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6850.98px;left:9537.34px;white-space:nowrap">46.03%</div></div>
		</div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:22.81px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:42.54px;white-space:nowrap">For</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:275.82px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:494.73px;white-space:nowrap">period </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:895.9px;white-space:nowrap">September </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1574.18px;white-space:nowrap">1, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1720.12px;white-space:nowrap">2016 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2048.48px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2194.42px;white-space:nowrap">December </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2836.06px;white-space:nowrap">31, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:3054.96px;white-space:nowrap">2016.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:219.3px;left:0px;white-space:nowrap">b</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:42.54px;white-space:nowrap">Based</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:451.06px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:633.48px;white-space:nowrap">average </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:1144.1px;white-space:nowrap">daily </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:1450.43px;white-space:nowrap">shares </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:215.08px;left:1880.74px;white-space:nowrap">outstanding.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:415.78px;left:0px;white-space:nowrap">c</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:38.26px;white-space:nowrap">Based</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:446.77px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:629.2px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:848.1px;white-space:nowrap">last </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:1088.81px;white-space:nowrap">sale </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:1365.99px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:1548.42px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:1767.32px;white-space:nowrap">New </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:2063.88px;letter-spacing:-2.41px;white-space:nowrap">York </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:2358.1px;white-space:nowrap">Stock </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:411.56px;left:2722.79px;white-space:nowrap">Exchange.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:612.27px;left:0px;white-space:nowrap">d</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:42.54px;letter-spacing:-2.91px;white-space:nowrap">Total</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:356.21px;white-space:nowrap">return </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:735.43px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:866.68px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:1085.59px;white-space:nowrap">annualized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:1756.76px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:1946.37px;white-space:nowrap">periods </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:2413.17px;white-space:nowrap">less </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:2683.01px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:2974.88px;white-space:nowrap">one </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:608.05px;left:3230.27px;letter-spacing:-1.44px;white-space:nowrap">year.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:808.75px;left:0px;white-space:nowrap">e</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:42.54px;white-space:nowrap">Ratios</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:450.9px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:676.99px;white-space:nowrap">annualized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:1348.17px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:1537.77px;white-space:nowrap">periods </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:2004.57px;white-space:nowrap">less </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:2274.42px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:2566.29px;white-space:nowrap">one </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:804.53px;left:2821.68px;letter-spacing:-1.44px;white-space:nowrap">year.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:1005.24px;left:0px;white-space:nowrap">f</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:21.27px;text-rendering:optimizeLegibility;white-space:nowrap">Benefit</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:466.27px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:612.21px;white-space:nowrap">expense </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:1144.79px;white-space:nowrap">reduction </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:1721.04px;white-space:nowrap">rounds </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:2158.69px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:2304.63px;white-space:nowrap">less </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:2574.47px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1001.02px;left:2866.35px;white-space:nowrap">0.01%.</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1257.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1546.42px;white-space:nowrap">Investments, </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3092.58px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:4364.14px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:4797.81px;white-space:nowrap">2020</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:8270px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3857.28px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4119.86px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5002.43px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5359.93px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5586.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5768.45px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6235.25px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6497.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6643.76px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7001.26px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7519.15px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8353.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:644.15px;white-space:nowrap">9</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div 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			<div style="width:10080px;height:12269px;position:absolute;top:1.32px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">
















































































































































































































			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:5992.83px;white-space:nowrap">Industry</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:21.02px;left:7388.22px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:7423.4px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:216.23px;left:8027.7px;white-space:nowrap">*</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1220.87px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:2454.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:2858.17px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:3636.2px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:4647.82px;white-space:nowrap">50.4%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1223.17px;white-space:nowrap">1.7%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:943.92px;left:302.33px;white-space:nowrap">a,b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1161.38px;white-space:nowrap">BONCER</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1845.91px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1572.25px;white-space:nowrap">1.1%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:2025.84px;white-space:nowrap">4/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:7186.11px;letter-spacing:-1.08px;white-space:nowrap">114,942,337</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:9412.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:9501.64px;white-space:nowrap">801,629</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1572.25px;white-space:nowrap">1%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1892.41px;white-space:nowrap">8/05/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:2487.09px;letter-spacing:52.54px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:7263.22px;white-space:nowrap">61,845,170</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:9501.64px;white-space:nowrap">435,130</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1572.25px;white-space:nowrap">1.2%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:2025.84px;white-space:nowrap">3/18/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:7174.23px;white-space:nowrap">604,306,505</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:9368.2px;white-space:nowrap">4,230,231</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:1572.25px;white-space:nowrap">1.3%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:2025.84px;white-space:nowrap">9/20/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:7352.2px;white-space:nowrap">5,405,294</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:9590.63px;white-space:nowrap">36,126</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:1572.25px;white-space:nowrap">1.4%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:2025.84px;white-space:nowrap">3/25/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:7174.23px;white-space:nowrap">353,754,475</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">2,311,006</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:1572.25px;white-space:nowrap">1.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:2025.84px;white-space:nowrap">3/25/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:7174.23px;white-space:nowrap">353,754,484</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">2,114,630</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2333.87px;left:307.57px;white-space:nowrap">b,c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:1161.38px;white-space:nowrap">Bonos </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:1659.5px;white-space:nowrap">del </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:1914.58px;letter-spacing:-2.53px;white-space:nowrap">Tesoro </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:2439.27px;white-space:nowrap">Nacional </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:3106.3px;white-space:nowrap">en </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2522.66px;left:576px;white-space:nowrap">Pesos </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2522.66px;left:1065.14px;letter-spacing:-1.1px;white-space:nowrap">Badlar, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2522.66px;left:1607.72px;white-space:nowrap">FRN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2522.66px;left:2025.45px;white-space:nowrap">31.641%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2522.66px;left:2746px;white-space:nowrap">(ARS </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.66px;left:576px;white-space:nowrap">BADLAR </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.66px;left:1260.69px;white-space:nowrap">+ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.66px;left:1398.58px;white-space:nowrap">2%), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.66px;left:1772.02px;white-space:nowrap">4/03/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.66px;left:2393.68px;letter-spacing:52.14px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.66px;left:7263.22px;white-space:nowrap">20,588,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.66px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2714.66px;left:9501.64px;white-space:nowrap">132,962</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:2914.36px;left:380.12px;white-space:nowrap">b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2925.71px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2925.71px;left:1161.38px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2925.71px;left:2086.22px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2925.71px;left:2459.89px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3122.19px;left:576px;white-space:nowrap">18.2%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3122.19px;left:1118.58px;white-space:nowrap">10/03/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3122.19px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3122.19px;left:7174.23px;white-space:nowrap">252,627,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3122.19px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3122.19px;left:9368.2px;white-space:nowrap">1,457,435</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3318.68px;left:576px;white-space:nowrap">16%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3318.68px;left:985.14px;white-space:nowrap">10/17/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3318.68px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3318.68px;left:7174.23px;white-space:nowrap">283,431,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3318.68px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3318.68px;left:9501.64px;white-space:nowrap">903,799</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3515.16px;left:576px;white-space:nowrap">15.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3515.16px;left:1118.58px;white-space:nowrap">10/17/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3515.16px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3515.16px;left:7174.23px;white-space:nowrap">512,895,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3515.16px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3515.16px;left:9368.2px;white-space:nowrap">1,192,787</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3798.92px;left:9279.22px;white-space:nowrap">13,615,735</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4097.25px;left:432px;white-space:nowrap">Brazil </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4097.25px;left:912.16px;white-space:nowrap">1.7%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4293.73px;left:432px;white-space:nowrap">Brazil </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4293.73px;left:876.53px;white-space:nowrap">Notas </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4293.73px;left:1338.95px;white-space:nowrap">do </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4293.73px;left:1558.48px;letter-spacing:-2.22px;white-space:nowrap">Tesouro </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4293.73px;left:2172.16px;white-space:nowrap">Nacional, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4293.73px;left:2883.64px;white-space:nowrap">10%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4485.73px;left:576px;white-space:nowrap">1/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4485.73px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4485.73px;left:7263.22px;white-space:nowrap">74,176,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4485.73px;left:8190.69px;letter-spacing:-1.98px;white-space:nowrap">BRL</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4485.73px;left:9279.22px;white-space:nowrap">14,291,300</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4784.06px;left:432px;white-space:nowrap">Colombia </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4784.06px;left:1205.36px;white-space:nowrap">1.7%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4995.1px;left:432px;white-space:nowrap">Colombia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4995.1px;left:1152.31px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4995.1px;left:2077.16px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4995.1px;left:2450.83px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5191.59px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5191.59px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5191.59px;left:1545.53px;white-space:nowrap">7.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5191.59px;left:2088.11px;white-space:nowrap">4/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5191.59px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5191.59px;left:7174.23px;white-space:nowrap">983,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5191.59px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5191.59px;left:9501.64px;white-space:nowrap">291,338</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5388.07px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5388.07px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5388.07px;left:1545.53px;white-space:nowrap">4.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5388.07px;left:2177.09px;white-space:nowrap">3/21/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5388.07px;left:2767.33px;letter-spacing:54.69px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5388.07px;left:7174.23px;white-space:nowrap">149,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5388.07px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5388.07px;left:9590.63px;white-space:nowrap">44,503</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5584.56px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5584.56px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5584.56px;left:1545.53px;white-space:nowrap">9.85%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5584.56px;left:2088.11px;white-space:nowrap">6/28/27</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5584.56px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5584.56px;left:7174.23px;white-space:nowrap">237,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5584.56px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5584.56px;left:9590.63px;white-space:nowrap">90,409</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5795.6px;left:432px;white-space:nowrap">Colombia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5795.6px;left:1149.42px;letter-spacing:-0.74px;white-space:nowrap">Titulos </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5795.6px;left:1659.19px;white-space:nowrap">de </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5795.6px;left:1878.72px;letter-spacing:-1.97px;white-space:nowrap">Tesoreria</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5795.6px;left:2536.77px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5992.09px;left:576px;white-space:nowrap">B, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5992.09px;left:771.63px;white-space:nowrap">7%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5992.09px;left:1091.78px;white-space:nowrap">5/04/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5992.09px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5992.09px;left:7040.8px;white-space:nowrap">4,020,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5992.09px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5992.09px;left:9368.2px;white-space:nowrap">1,248,318</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6188.57px;left:576px;white-space:nowrap">B, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6188.57px;left:771.63px;white-space:nowrap">10%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6188.57px;left:1180.77px;white-space:nowrap">7/24/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6188.57px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6188.57px;left:6951.81px;white-space:nowrap">12,183,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6188.57px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6188.57px;left:9368.2px;white-space:nowrap">4,324,947</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6385.06px;left:576px;white-space:nowrap">B, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6385.06px;left:771.63px;white-space:nowrap">7.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6385.06px;left:1225.22px;white-space:nowrap">8/26/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6385.06px;left:1833.2px;letter-spacing:50.87px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6385.06px;left:7040.8px;white-space:nowrap">9,469,300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6385.06px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6385.06px;left:9368.2px;white-space:nowrap">3,197,323</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6581.54px;left:576px;white-space:nowrap">B, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6581.54px;left:771.63px;white-space:nowrap">6%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6581.54px;left:1091.78px;white-space:nowrap">4/28/28</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6581.54px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6581.54px;left:6951.81px;white-space:nowrap">13,320,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6581.54px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6581.54px;left:9368.2px;white-space:nowrap">4,169,549</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6778.02px;left:576px;white-space:nowrap">B, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6778.02px;left:771.63px;white-space:nowrap">7.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6778.02px;left:1314.2px;white-space:nowrap">9/18/30</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6778.02px;left:1926.61px;letter-spacing:51.01px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6778.02px;left:7040.8px;white-space:nowrap">1,645,700,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6778.02px;left:8152.17px;letter-spacing:-0.96px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6778.02px;left:9501.64px;white-space:nowrap">565,361</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7061.79px;left:9279.22px;white-space:nowrap">13,931,748</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7360.11px;left:432px;white-space:nowrap">Ghana </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7360.11px;left:974.34px;white-space:nowrap">1.4%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7571.16px;left:432px;white-space:nowrap">Ghana </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7571.16px;left:956.84px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7571.16px;left:1881.69px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7571.16px;left:2255.36px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:576px;white-space:nowrap">24.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:1207.56px;white-space:nowrap">3/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:7485.64px;white-space:nowrap">220,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7767.64px;left:9590.63px;white-space:nowrap">38,189</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:576px;white-space:nowrap">16.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:1118.58px;white-space:nowrap">3/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:7485.64px;white-space:nowrap">490,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7964.13px;left:9590.63px;white-space:nowrap">84,082</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8160.61px;left:576px;white-space:nowrap">16.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8160.61px;left:1207.56px;white-space:nowrap">5/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8160.61px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8160.61px;left:7352.2px;white-space:nowrap">2,040,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8160.61px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8160.61px;left:9501.64px;white-space:nowrap">349,234</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8357.1px;left:576px;white-space:nowrap">24.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8357.1px;left:1118.58px;white-space:nowrap">6/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8357.1px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8357.1px;left:7574.63px;white-space:nowrap">50,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8357.1px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8357.1px;left:9679.61px;white-space:nowrap">8,841</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8553.58px;left:576px;white-space:nowrap">24.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8553.58px;left:1207.56px;white-space:nowrap">7/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8553.58px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8553.58px;left:7485.64px;white-space:nowrap">360,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8553.58px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8553.58px;left:9590.63px;white-space:nowrap">63,812</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8750.07px;left:576px;white-space:nowrap">18.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8750.07px;left:1207.56px;white-space:nowrap">1/24/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8750.07px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8750.07px;left:7352.2px;white-space:nowrap">8,600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8750.07px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8750.07px;left:9368.2px;white-space:nowrap">1,477,302</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8946.55px;left:576px;white-space:nowrap">17.6%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8946.55px;left:1118.58px;letter-spacing:-1.48px;white-space:nowrap">11/28/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8946.55px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8946.55px;left:7485.64px;white-space:nowrap">150,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8946.55px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8946.55px;left:9590.63px;white-space:nowrap">25,263</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9143.03px;left:576px;white-space:nowrap">19.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9143.03px;left:1207.56px;white-space:nowrap">3/25/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9143.03px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9143.03px;left:7352.2px;white-space:nowrap">8,520,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9143.03px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9143.03px;left:9368.2px;white-space:nowrap">1,460,862</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.52px;left:576px;white-space:nowrap">19%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.52px;left:985.14px;letter-spacing:-1.48px;white-space:nowrap">11/02/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.52px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.52px;left:7263.22px;white-space:nowrap">25,560,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.52px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.52px;left:9368.2px;white-space:nowrap">4,142,701</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9536px;left:576px;white-space:nowrap">19.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9536px;left:1207.56px;white-space:nowrap">3/15/32</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9536px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9536px;left:7263.22px;white-space:nowrap">25,560,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9536px;left:8149.28px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9536px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">4,063,011</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9819.77px;left:9291.09px;letter-spacing:-1.19px;white-space:nowrap">11,713,297</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10118.09px;left:432px;white-space:nowrap">India </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10118.09px;left:849.81px;white-space:nowrap">2.5%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10329.14px;left:432px;white-space:nowrap">India </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10329.14px;left:823.41px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10329.14px;left:1748.25px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10329.14px;left:2121.92px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10525.62px;left:576px;white-space:nowrap">8.79%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10525.62px;left:1118.58px;letter-spacing:-1.48px;white-space:nowrap">11/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10525.62px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10525.62px;left:7174.23px;white-space:nowrap">160,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10525.62px;left:8220.45px;white-space:nowrap">INR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10525.62px;left:9368.2px;white-space:nowrap">2,293,451</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10722.11px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10722.11px;left:1082.95px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10722.11px;left:1509.83px;white-space:nowrap">5.22%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10722.11px;left:2052.41px;white-space:nowrap">6/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10722.11px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10722.11px;left:7186.11px;letter-spacing:-1.08px;white-space:nowrap">117,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10722.11px;left:8220.45px;white-space:nowrap">INR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10722.11px;left:9368.2px;white-space:nowrap">1,615,533</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10918.59px;left:576px;white-space:nowrap">7.59%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10918.59px;left:1118.58px;letter-spacing:-1.7px;white-space:nowrap">1/11/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10918.59px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10918.59px;left:7174.23px;white-space:nowrap">383,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10918.59px;left:8220.45px;white-space:nowrap">INR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10918.59px;left:9368.2px;white-space:nowrap">5,792,202</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11115.08px;left:576px;white-space:nowrap">7.27%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11115.08px;left:1118.58px;white-space:nowrap">4/08/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11115.08px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11115.08px;left:7263.22px;white-space:nowrap">79,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11115.08px;left:8220.45px;white-space:nowrap">INR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11115.08px;left:9368.2px;white-space:nowrap">1,183,144</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11311.56px;left:576px;white-space:nowrap">8.33%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11311.56px;left:1118.58px;white-space:nowrap">7/09/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11311.56px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11311.56px;left:7174.23px;white-space:nowrap">624,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11311.56px;left:8220.45px;white-space:nowrap">INR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11311.56px;left:9368.2px;white-space:nowrap">9,633,233</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11595.32px;left:9279.22px;white-space:nowrap">20,517,563</div></div>
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				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:994.69px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1257.27px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2139.84px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2497.34px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2723.44px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2905.86px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3372.66px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3635.23px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3781.17px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4138.67px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4656.56px;white-space:nowrap">statements.</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">10</div></div>
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		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABBoAAAUCCAYAAACkLpAdAAAACXBIWXMAABcRAAAXEQHKJvM/AAAgAElEQVR4XuzbsY0d2RVFUYagUBhChaJQJoQxv9mhMLNSCwpgnxEEql7NOsCitY02Hi7wC+CP+75/AAAAAPwvZAAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFj9+Hw+fxzoa2gAnuBraAD473wNDfxVX0PzJF+f8/5mXu7H9z83AAAAwP/Cvz805NeIB/oaGoAn+BoaAP47X0MDf9XX0DzJ1+e8v5mXy/9bAQAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAONPn8/n17YbfKR/mA/3j2wVwiB8AAPB3ksEDXbeZ2TmrmwYAAK+SwQNdt5nZOaubBgAAr5LBA123mdk5q5sGAACvksEDXbeZ2TmrmwYAAK+SwQNdt5nZOaubBgAAr5LBA123mdk5q5sGAACvksEDXbeZ2TmrmwYAAK+SwQNdt5nZOaubBgAAr5LBA123mdk5q5sGAACvksEDXbeZ2TmrmwYAAK+SwQNdt5nZOaubBgAAr5LBA123mdk5q5sGAACvksEDXbeZ2TmrmwYAAK+SwQNdt5nZOaubBgAAr5LBA123mdk5q5sGAACvksEDXbeZ2TmrmwYAAK+SwQNdt5nZOaubBgAAr5LBA123mdk5q5sGAACvksEDXbeZ2TmrmwYAAK+SwQNdt5nZOaubBgAAr5LBA/3j/s/HBoAT/AAAgL+TDAAAAABWGQAAAACsMgAAAOBMn8/nz2+/4HfKhwkAAMCZvn/0/fx2we+UDxMAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAGf6fD7//PYH/E75MAEAADjTx4cG/g/yYT7QdZuZnbO6aQAA8CoZPNB1m5mds7ppAADwKhk80HWbmZ2zumkAAPAqGTzQdZuZnbO6aQAA8CoZPNB1m5mds7ppAADwKhk80HWbmZ2zumkAAPAqGTzQdZuZnbO6aQAA8CoZPNB1m5mds7ppAADwKhk80HWbmZ2zumkAAPAqGTzQdZuZnbO6aQAA8CoZPN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			<div style="width:10080px;height:12258px;position:absolute;top:1.32px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">










































































































































































































			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:5992.83px;white-space:nowrap">Industry</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:21.02px;left:7388.22px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:7423.4px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:216.23px;left:8027.7px;white-space:nowrap">*</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:1220.87px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:2454.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:2858.17px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:3636.2px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:4647.82px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:432px;white-space:nowrap">Indonesia </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:1223.25px;white-space:nowrap">4.8%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:432px;white-space:nowrap">Indonesia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1170.36px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:2095.2px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:2468.88px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:576px;white-space:nowrap">FR34, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1056.16px;white-space:nowrap">12.8%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1598.73px;white-space:nowrap">6/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:2206.85px;letter-spacing:51.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:6951.81px;white-space:nowrap">64,492,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:9368.2px;white-space:nowrap">4,799,290</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:576px;white-space:nowrap">FR53, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1056.16px;white-space:nowrap">8.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1598.73px;white-space:nowrap">7/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:2206.85px;letter-spacing:51.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:6862.83px;white-space:nowrap">144,200,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:9279.22px;white-space:nowrap">10,526,073</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:576px;white-space:nowrap">FR61, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1056.16px;white-space:nowrap">7%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1376.31px;white-space:nowrap">5/15/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1926.61px;letter-spacing:51.01px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:6951.81px;white-space:nowrap">52,869,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:9368.2px;white-space:nowrap">3,921,337</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:576px;white-space:nowrap">FR35, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:1056.16px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:1563.11px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:2025.69px;white-space:nowrap">12.9%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:2568.27px;white-space:nowrap">6/15/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:6951.81px;white-space:nowrap">42,438,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:9368.2px;white-space:nowrap">3,417,307</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:576px;white-space:nowrap">FR43, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:1056.16px;white-space:nowrap">10.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:1687.72px;white-space:nowrap">7/15/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:2300.26px;letter-spacing:51.82px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:7040.8px;white-space:nowrap">4,826,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:9501.64px;white-space:nowrap">376,480</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:576px;white-space:nowrap">FR63, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:1056.16px;white-space:nowrap">5.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:1687.72px;white-space:nowrap">5/15/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:2300.26px;letter-spacing:51.82px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:6951.81px;white-space:nowrap">81,386,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:9368.2px;white-space:nowrap">5,988,705</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:576px;white-space:nowrap">FR46, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:1056.16px;white-space:nowrap">9.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:1509.75px;white-space:nowrap">7/15/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:2113.44px;letter-spacing:51.35px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:6963.69px;letter-spacing:-0.85px;white-space:nowrap">11,430,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:9513.52px;letter-spacing:-1.7px;white-space:nowrap">911,139</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2527.15px;left:576px;white-space:nowrap">FR39, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2527.15px;left:1056.16px;letter-spacing:-1.48px;white-space:nowrap">11.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2527.15px;left:1675.84px;white-space:nowrap">8/15/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2527.15px;left:2300.26px;letter-spacing:51.82px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2527.15px;left:7040.8px;white-space:nowrap">2,703,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2527.15px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2527.15px;left:9501.64px;white-space:nowrap">225,642</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2723.63px;left:576px;white-space:nowrap">FR70, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2723.63px;left:1056.16px;white-space:nowrap">8.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2723.63px;left:1687.72px;white-space:nowrap">3/15/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2723.63px;left:2300.26px;letter-spacing:51.82px;white-space:nowrap">..........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2723.63px;left:6862.83px;white-space:nowrap">104,477,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2723.63px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2723.63px;left:9368.2px;white-space:nowrap">8,192,405</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.12px;left:576px;white-space:nowrap">FR44, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.12px;left:1056.16px;white-space:nowrap">10%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.12px;left:1465.3px;white-space:nowrap">9/15/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.12px;left:2020.02px;letter-spacing:51.16px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.12px;left:7040.8px;white-space:nowrap">1,618,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.12px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.12px;left:9501.64px;white-space:nowrap">133,818</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3116.6px;left:576px;white-space:nowrap">FR81, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3116.6px;left:1056.16px;white-space:nowrap">6.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3116.6px;left:1509.75px;white-space:nowrap">6/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3116.6px;left:2113.44px;letter-spacing:51.35px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3116.6px;left:6963.69px;letter-spacing:-0.85px;white-space:nowrap">11,271,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3116.6px;left:8220.45px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3116.6px;left:9501.64px;white-space:nowrap">846,448</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3400.36px;left:9279.22px;white-space:nowrap">39,338,644</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3698.69px;left:432px;white-space:nowrap">Mexico </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3698.69px;left:1018.88px;white-space:nowrap">13.9%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:432px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:1072.23px;white-space:nowrap">Bonos </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:1570.36px;white-space:nowrap">Desarr </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:2094.89px;white-space:nowrap">Fixed </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:2530.59px;white-space:nowrap">Rate</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3909.73px;left:2868.56px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:576px;white-space:nowrap">M, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:798.19px;white-space:nowrap">6.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:1251.78px;white-space:nowrap">6/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:1833.2px;letter-spacing:50.87px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:7040.8px;white-space:nowrap">1,650,576,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:8140.45px;white-space:nowrap">MXN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4106.22px;left:9279.22px;white-space:nowrap">83,716,508</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:576px;white-space:nowrap">M, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:798.19px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:1305.14px;white-space:nowrap">Note, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:1732.02px;white-space:nowrap">7.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:2274.59px;white-space:nowrap">12/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:7174.23px;white-space:nowrap">297,180,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:8140.45px;white-space:nowrap">MXN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4302.7px;left:9279.22px;white-space:nowrap">15,342,988</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4499.19px;left:576px;white-space:nowrap">M, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4499.19px;left:798.19px;white-space:nowrap">6.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4499.19px;left:1251.78px;white-space:nowrap">6/09/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4499.19px;left:1833.2px;letter-spacing:50.87px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4499.19px;left:7174.23px;white-space:nowrap">232,730,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4499.19px;left:8140.45px;white-space:nowrap">MXN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4499.19px;left:9279.22px;white-space:nowrap">12,054,038</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4695.67px;left:576px;white-space:nowrap">M, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4695.67px;left:798.19px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4695.67px;left:1305.14px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4695.67px;left:1767.72px;white-space:nowrap">8%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4695.67px;left:2087.88px;white-space:nowrap">12/07/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4695.67px;left:2767.33px;letter-spacing:54.69px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4695.67px;left:7263.22px;white-space:nowrap">44,550,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4695.67px;left:8140.45px;white-space:nowrap">MXN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4695.67px;left:9368.2px;white-space:nowrap">2,460,691</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4979.44px;left:9202.11px;letter-spacing:-1.08px;white-space:nowrap">113,574,225</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5277.76px;left:432px;white-space:nowrap">Norway </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5277.76px;left:1054.42px;white-space:nowrap">4.5%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5477.46px;left:380.12px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5488.81px;left:432px;white-space:nowrap">Norway </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5488.81px;left:1018.8px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5488.81px;left:1943.64px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5488.81px;left:2317.31px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:1038.58px;white-space:nowrap">Reg </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:1376.55px;white-space:nowrap">S, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:1572.17px;white-space:nowrap">3.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:2114.75px;white-space:nowrap">5/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:7263.22px;white-space:nowrap">64,462,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:8149.28px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5685.29px;left:9368.2px;white-space:nowrap">7,625,718</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:1038.58px;white-space:nowrap">Reg </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:1376.55px;white-space:nowrap">S, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:1572.17px;white-space:nowrap">2%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:1892.33px;white-space:nowrap">5/24/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:2487.09px;letter-spacing:52.54px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:7174.23px;white-space:nowrap">102,083,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:8149.28px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5881.78px;left:9279.22px;white-space:nowrap">12,376,939</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:1038.58px;white-space:nowrap">Reg </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:1376.55px;white-space:nowrap">S, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:1572.17px;white-space:nowrap">3%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:1892.33px;white-space:nowrap">3/14/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:2487.09px;letter-spacing:52.54px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:7263.22px;white-space:nowrap">85,878,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:8149.28px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6078.26px;left:9279.22px;white-space:nowrap">10,831,506</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:1038.58px;white-space:nowrap">Reg </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:1376.55px;white-space:nowrap">S, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:1572.17px;white-space:nowrap">1.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:2114.75px;white-space:nowrap">3/13/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:7263.22px;white-space:nowrap">28,937,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:8149.28px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.74px;left:9368.2px;white-space:nowrap">3,540,344</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:576px;white-space:nowrap">144A, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:1038.58px;white-space:nowrap">Reg </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:1376.55px;white-space:nowrap">S, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:1572.17px;white-space:nowrap">1.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:2025.77px;white-space:nowrap">2/19/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:7263.22px;white-space:nowrap">17,165,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:8149.28px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6471.23px;left:9368.2px;white-space:nowrap">2,087,393</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6754.99px;left:9279.22px;white-space:nowrap">36,461,900</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7053.32px;left:432px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7053.32px;left:929.66px;white-space:nowrap">Korea </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7053.32px;left:1427.63px;white-space:nowrap">17.0%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7249.8px;left:432px;white-space:nowrap">Korea </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7249.8px;left:903.41px;white-space:nowrap">Monetary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7249.8px;left:1614.81px;white-space:nowrap">Stabilization </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7249.8px;left:2522px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7441.8px;left:576px;white-space:nowrap">1.18%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7441.8px;left:1118.58px;white-space:nowrap">8/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7441.8px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7441.8px;left:7040.8px;white-space:nowrap">2,322,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7441.8px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7441.8px;left:9368.2px;white-space:nowrap">2,140,067</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7652.85px;left:432px;white-space:nowrap">Korea </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7652.85px;left:900.52px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7652.85px;left:1570.28px;white-space:nowrap">Bond</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7652.85px;left:1943.95px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7849.33px;left:576px;white-space:nowrap">1.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7849.33px;left:1207.56px;white-space:nowrap">9/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7849.33px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7849.33px;left:7040.8px;white-space:nowrap">3,483,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7849.33px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7849.33px;left:9368.2px;white-space:nowrap">3,218,273</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8045.82px;left:576px;white-space:nowrap">2%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8045.82px;left:896.16px;white-space:nowrap">12/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8045.82px;left:1552.96px;letter-spacing:50.55px;white-space:nowrap">..................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8045.82px;left:7040.8px;white-space:nowrap">4,254,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8045.82px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8045.82px;left:9368.2px;white-space:nowrap">3,957,891</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8242.3px;left:576px;white-space:nowrap">2.25%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8242.3px;left:1118.58px;white-space:nowrap">9/10/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8242.3px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8242.3px;left:6951.81px;white-space:nowrap">19,359,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8242.3px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8242.3px;left:9279.22px;white-space:nowrap">18,383,279</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8438.79px;left:576px;white-space:nowrap">1.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8438.79px;left:1207.56px;white-space:nowrap">9/10/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8438.79px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8438.79px;left:6963.69px;letter-spacing:-0.85px;white-space:nowrap">11,135,070,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8438.79px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8438.79px;left:9279.22px;white-space:nowrap">10,310,939</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8635.27px;left:576px;white-space:nowrap">3%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8635.27px;left:896.16px;white-space:nowrap">9/10/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8635.27px;left:1459.54px;letter-spacing:50.47px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8635.27px;left:7040.8px;white-space:nowrap">5,310,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8635.27px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8635.27px;left:9368.2px;white-space:nowrap">5,201,267</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8831.75px;left:576px;white-space:nowrap">1.875%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8831.75px;left:1207.56px;white-space:nowrap">6/10/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8831.75px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8831.75px;left:6951.81px;white-space:nowrap">50,619,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8831.75px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8831.75px;left:9279.22px;white-space:nowrap">47,649,047</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9028.24px;left:576px;white-space:nowrap">1.375%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9028.24px;left:1207.56px;white-space:nowrap">12/10/29</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9028.24px;left:1833.2px;letter-spacing:50.87px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9028.24px;left:6951.81px;white-space:nowrap">54,033,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9028.24px;left:8125.61px;letter-spacing:-0.96px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9028.24px;left:9291.09px;letter-spacing:-1.19px;white-space:nowrap">48,291,112</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9312px;left:9190.23px;white-space:nowrap">139,151,875</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9610.33px;left:432px;white-space:nowrap">Supranational </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9610.33px;left:1543.25px;white-space:nowrap">1.2%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9810.02px;left:380.12px;white-space:nowrap">e</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9806.81px;left:432px;white-space:nowrap">Inter-American </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9806.81px;left:1525.67px;white-space:nowrap">Development </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9806.81px;left:2512.86px;white-space:nowrap">Bank, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9998.81px;left:576px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9998.81px;left:1082.95px;white-space:nowrap">Bond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9998.81px;left:1545.53px;white-space:nowrap">7.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9998.81px;left:1999.13px;white-space:nowrap">12/05/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9998.81px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9998.81px;left:7174.23px;white-space:nowrap">185,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9998.81px;left:8140.45px;white-space:nowrap">MXN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9998.81px;left:9279.22px;white-space:nowrap">10,125,224</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10277.83px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10277.83px;left:950.46px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10277.83px;left:1739.32px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10277.83px;left:2972.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10277.83px;left:3376.63px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10277.83px;left:4154.66px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10277.83px;left:5166.28px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10277.83px;left:5732.88px;white-space:nowrap">$468,268,486)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10277.83px;left:7124.25px;letter-spacing:54.66px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10311.7px;left:9199.06px;letter-spacing:-0.8px;white-space:nowrap">412,721,511</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10672.17px;left:432px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10672.17px;left:876.53px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10672.17px;left:2110.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10672.17px;left:2513.84px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10672.17px;left:3291.86px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:10672.17px;left:4303.48px;white-space:nowrap">16.8%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10917.08px;left:432px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10917.08px;left:974.19px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10917.08px;left:1498.88px;white-space:nowrap">16.8%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11128.13px;left:432px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11128.13px;left:784.73px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11128.13px;left:1454.5px;white-space:nowrap">Notes</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11128.13px;left:1872.47px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11324.61px;left:576px;white-space:nowrap">1.125%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11324.61px;left:1207.56px;white-space:nowrap">9/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11324.61px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11324.61px;left:7352.2px;white-space:nowrap">2,737,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11324.61px;left:9368.2px;white-space:nowrap">2,757,743</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11521.1px;left:576px;white-space:nowrap">1.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11521.1px;left:1029.59px;white-space:nowrap">9/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11521.1px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11521.1px;left:7263.22px;white-space:nowrap">30,797,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11521.1px;left:9291.09px;letter-spacing:-1.19px;white-space:nowrap">31,116,881</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11717.58px;left:576px;white-space:nowrap">2.125%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11717.58px;left:1207.56px;white-space:nowrap">12/31/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11717.58px;left:1833.2px;letter-spacing:50.87px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11717.58px;left:7352.2px;white-space:nowrap">3,094,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11717.58px;left:9368.2px;white-space:nowrap">3,155,949</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11914.07px;left:576px;white-space:nowrap">1.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11914.07px;left:1029.59px;white-space:nowrap">10/31/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11914.07px;left:1739.78px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11914.07px;left:7364.08px;letter-spacing:-1.32px;white-space:nowrap">2,110,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11914.07px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">2,211,544</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3857.28px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4119.86px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5002.43px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5359.93px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5586.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5768.45px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6235.25px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6497.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6643.76px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7001.26px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7519.15px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8353.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:580.79px;letter-spacing:-4.8px;white-space:nowrap">11</div></div>
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		<div style="background-image:url(data:image/png;base64,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			<div style="width:10080px;height:12269px;position:absolute;top:1.32px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">





























































































































			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:5992.83px;white-space:nowrap">Industry</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:21.02px;left:7388.22px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:7423.4px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:216.23px;left:8027.7px;white-space:nowrap">*</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:213.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:213.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:426.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:426.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:432px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:876.53px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:2110.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:2513.84px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:499.31px;left:3291.86px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:533.18px;left:4303.48px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:432px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:744.23px;left:974.19px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:744.23px;left:1498.88px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:432px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:784.73px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1454.5px;white-space:nowrap">Notes, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:955.27px;left:1961.38px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:576px;white-space:nowrap">1.5%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1029.59px;letter-spacing:-1.48px;white-space:nowrap">11/30/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:1646.37px;letter-spacing:50.65px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:7352.2px;white-space:nowrap">2,600,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.76px;left:9368.2px;white-space:nowrap">2,726,547</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:576px;white-space:nowrap">1.75%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1118.58px;white-space:nowrap">12/31/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:7263.22px;white-space:nowrap">47,264,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1348.24px;left:9279.22px;white-space:nowrap">50,070,300</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:576px;white-space:nowrap">2%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:896.16px;white-space:nowrap">2/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:1459.54px;letter-spacing:50.47px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:7352.2px;white-space:nowrap">2,530,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1544.72px;left:9368.2px;white-space:nowrap">2,709,175</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:576px;white-space:nowrap">2.125%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:1207.56px;white-space:nowrap">5/15/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:7352.2px;white-space:nowrap">3,030,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1741.21px;left:9368.2px;white-space:nowrap">3,270,743</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:576px;white-space:nowrap">2.875%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:1207.56px;white-space:nowrap">5/31/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:7352.2px;white-space:nowrap">2,520,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1937.69px;left:9368.2px;white-space:nowrap">2,803,894</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:576px;white-space:nowrap">2.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:1207.56px;white-space:nowrap">12/31/25</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:1833.2px;letter-spacing:50.87px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:7263.22px;white-space:nowrap">14,555,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2134.18px;left:9279.22px;white-space:nowrap">16,186,183</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:576px;white-space:nowrap">1.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:1207.56px;white-space:nowrap">2/15/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:7352.2px;white-space:nowrap">7,870,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2330.66px;left:9368.2px;white-space:nowrap">8,371,098</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2527.15px;left:576px;white-space:nowrap">2.125%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2527.15px;left:1207.56px;white-space:nowrap">5/31/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2527.15px;left:1741.39px;letter-spacing:50.75px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2527.15px;left:7352.2px;white-space:nowrap">3,594,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2527.15px;left:9368.2px;white-space:nowrap">3,923,356</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2723.63px;left:576px;white-space:nowrap">1.625%, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2723.63px;left:1207.56px;white-space:nowrap">10/31/26</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2723.63px;left:1833.2px;letter-spacing:50.87px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2723.63px;left:7352.2px;white-space:nowrap">7,870,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2723.63px;left:9368.2px;white-space:nowrap">8,392,617</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3007.4px;left:9190.23px;white-space:nowrap">137,696,030</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3286.41px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3286.41px;left:950.46px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3286.41px;left:1394.99px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3286.41px;left:2628.58px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3286.41px;left:3032.29px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3286.41px;left:3810.32px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3286.41px;left:4821.94px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3286.41px;left:5388.54px;white-space:nowrap">$133,309,941)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3286.41px;left:6705.98px;letter-spacing:53.25px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3320.28px;left:9190.23px;white-space:nowrap">137,696,030</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3762.21px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3762.21px;left:950.46px;white-space:nowrap">Long </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3762.21px;left:1494.7px;letter-spacing:-2.97px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3762.21px;left:2024.48px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3762.21px;left:3247.14px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3762.21px;left:3813.74px;white-space:nowrap">$601,578,427)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3762.21px;left:5137.49px;letter-spacing:51.19px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3796.08px;left:9190.23px;white-space:nowrap">550,417,541</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4200.58px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4200.58px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4392.58px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4200.58px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4392.58px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:4395.79px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:4605.68px;left:6596.2px;white-space:nowrap">a </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:4605.68px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:4605.68px;left:8041.75px;white-space:nowrap">aa</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4710.88px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4710.88px;left:1243.04px;white-space:nowrap">Purchased </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4710.88px;left:2321.26px;white-space:nowrap">0.7%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5019.79px;left:432px;white-space:nowrap">Calls </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5019.79px;left:858.87px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5019.79px;left:956.61px;white-space:nowrap">Over-the-Counter</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5294.84px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5294.84px;left:1178.95px;white-space:nowrap">Options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5523.32px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5523.32px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5523.32px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5715.32px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5715.32px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5715.32px;left:1936.47px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5715.32px;left:2550.14px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5907.32px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5907.32px;left:984.98px;white-space:nowrap">78.75 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5907.32px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5907.32px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5907.32px;left:2369.52px;white-space:nowrap">1/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5907.32px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5907.32px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5907.32px;left:7280.2px;white-space:nowrap">8,734,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5907.32px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5907.32px;left:9501.64px;white-space:nowrap">107,412</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6103.8px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6103.8px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6103.8px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6295.8px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6295.8px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6295.8px;left:1936.47px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6295.8px;left:2550.14px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6487.8px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6487.8px;left:984.98px;white-space:nowrap">79.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6487.8px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6487.8px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6487.8px;left:2369.52px;white-space:nowrap">1/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6487.8px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6487.8px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6487.8px;left:7280.2px;white-space:nowrap">7,836,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6487.8px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6487.8px;left:9590.63px;white-space:nowrap">83,234</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6684.29px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6684.29px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6684.29px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6876.29px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6876.29px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6876.29px;left:1927.64px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6876.29px;left:2292.17px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6876.29px;left:2745.61px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7068.29px;left:576px;white-space:nowrap">81.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7068.29px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7068.29px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7068.29px;left:1960.53px;white-space:nowrap">4/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7068.29px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7068.29px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7068.29px;left:7280.2px;white-space:nowrap">5,660,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7068.29px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7068.29px;left:9590.63px;white-space:nowrap">60,360</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7264.77px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7264.77px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7264.77px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7456.77px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7456.77px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7456.77px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7456.77px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7456.77px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7648.77px;left:576px;white-space:nowrap">81.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7648.77px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7648.77px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7648.77px;left:1960.53px;white-space:nowrap">6/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7648.77px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7648.77px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7648.77px;left:7280.2px;white-space:nowrap">8,707,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7648.77px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7648.77px;left:9501.64px;white-space:nowrap">122,141</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7845.26px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7845.26px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7845.26px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8037.26px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8037.26px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8037.26px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8037.26px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8037.26px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8229.26px;left:576px;white-space:nowrap">84.15 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8229.26px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8229.26px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8229.26px;left:1960.53px;white-space:nowrap">6/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8229.26px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8229.26px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8229.26px;left:7280.2px;white-space:nowrap">9,003,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8229.26px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8229.26px;left:9590.63px;white-space:nowrap">45,152</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8425.74px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8425.74px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8425.74px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8617.74px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8617.74px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8617.74px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8617.74px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8809.74px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8809.74px;left:984.98px;white-space:nowrap">86.50 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8809.74px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8809.74px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8809.74px;left:2369.52px;white-space:nowrap">12/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8809.74px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8809.74px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8809.74px;left:7280.2px;white-space:nowrap">6,752,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8809.74px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8809.74px;left:9590.63px;white-space:nowrap">47,404</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9006.23px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9006.23px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9006.23px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9198.23px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9198.23px;left:1545.38px;white-space:nowrap">HSBK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9198.23px;left:2069.98px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9198.23px;left:2683.66px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9390.23px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9390.23px;left:984.98px;white-space:nowrap">$0.72, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9390.23px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9390.23px;left:2052.25px;white-space:nowrap">1/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9390.23px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9390.23px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9390.23px;left:7280.2px;white-space:nowrap">2,588,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9390.23px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9390.23px;left:9501.64px;white-space:nowrap">142,560</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9586.71px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9586.71px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9586.71px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9778.71px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9778.71px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9778.71px;left:2105.45px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9778.71px;left:2469.98px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9778.71px;left:2923.42px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9970.71px;left:576px;white-space:nowrap">$0.75, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9970.71px;left:1065.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9970.71px;left:1643.27px;white-space:nowrap">4/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9970.71px;left:2206.85px;letter-spacing:51.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9970.71px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9970.71px;left:7280.2px;white-space:nowrap">1,789,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9970.71px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9970.71px;left:9590.63px;white-space:nowrap">49,483</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10167.2px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10167.2px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10167.2px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10359.2px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10359.2px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10359.2px;left:2114.28px;white-space:nowrap">May </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10359.2px;left:2461px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10359.2px;left:2914.44px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10551.2px;left:576px;white-space:nowrap">$0.77, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10551.2px;left:1065.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10551.2px;left:1643.27px;white-space:nowrap">5/12/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10551.2px;left:2206.85px;letter-spacing:51.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10551.2px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10551.2px;left:7280.2px;white-space:nowrap">3,217,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10551.2px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10551.2px;left:9590.63px;white-space:nowrap">67,487</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10747.68px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10747.68px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10747.68px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10939.68px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10939.68px;left:1545.38px;white-space:nowrap">HSBK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10939.68px;left:2069.98px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10939.68px;left:2754.67px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11131.68px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11131.68px;left:984.98px;white-space:nowrap">$0.78, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11131.68px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11131.68px;left:2052.25px;white-space:nowrap">2/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11131.68px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11131.68px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11131.68px;left:7280.2px;white-space:nowrap">5,160,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11131.68px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11131.68px;left:9590.63px;white-space:nowrap">33,770</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11328.16px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11328.16px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11328.16px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11520.16px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11520.16px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11520.16px;left:1936.47px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11520.16px;left:2621.16px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11712.16px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11712.16px;left:984.98px;white-space:nowrap">104.78 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11712.16px;left:1518.81px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11712.16px;left:1880.53px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11712.16px;left:2458.5px;white-space:nowrap">2/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11712.16px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11712.16px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11712.16px;left:7280.2px;white-space:nowrap">2,863,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11712.16px;left:9679.61px;white-space:nowrap">6,004</div></div>
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				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:912px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:994.69px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1257.27px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2139.84px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2497.34px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2723.44px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2905.86px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3372.66px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3635.23px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3781.17px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4138.67px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4656.56px;white-space:nowrap">statements.</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">12</div></div>
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		<div 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			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:248.23px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6596.2px;white-space:nowrap">a </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:8041.75px;white-space:nowrap">aa</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:1243.04px;white-space:nowrap">Purchased </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:597.18px;left:2321.26px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:432px;white-space:nowrap">Calls </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:858.88px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:956.61px;white-space:nowrap">Over-the-Counter </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:872.23px;left:2325.59px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:1178.95px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1147.27px;left:1827.78px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:1936.47px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:2621.16px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:984.98px;letter-spacing:-1.7px;white-space:nowrap">110.80 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1506.94px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1868.66px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:2446.63px;white-space:nowrap">2/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">31,118,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:9590.63px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:9679.61px;white-space:nowrap">2,648</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1956.24px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1956.24px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1956.24px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:1936.47px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:2621.16px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:984.98px;letter-spacing:-1.7px;white-space:nowrap">115.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:1506.94px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:1868.66px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:2446.63px;white-space:nowrap">2/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:7191.22px;letter-spacing:0px;white-space:nowrap">62,235,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:9813.05px;white-space:nowrap">773</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2536.72px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2536.72px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2536.72px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:576px;letter-spacing:-1.7px;white-space:nowrap">115.95 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:1097.95px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:1459.67px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:2037.64px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:7191.22px;letter-spacing:0px;white-space:nowrap">17,616,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:9679.61px;white-space:nowrap">9,917</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3117.21px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3117.21px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3117.21px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:1545.38px;white-space:nowrap">GSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:2105.45px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:2594.44px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:984.98px;white-space:nowrap">20.65 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:2452.25px;white-space:nowrap">3/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:7191.22px;letter-spacing:0px;white-space:nowrap">15,751,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:9501.64px;white-space:nowrap">290,494</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3697.69px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3697.69px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3697.69px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:576px;white-space:nowrap">21.16 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:2043.27px;white-space:nowrap">6/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:7280.2px;white-space:nowrap">9,283,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:9501.64px;white-space:nowrap">229,463</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.18px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.18px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.18px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:2105.45px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:2469.98px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:2923.42px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:576px;white-space:nowrap">22.44 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:2043.27px;white-space:nowrap">4/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:7280.2px;white-space:nowrap">1,716,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:9590.63px;white-space:nowrap">13,674</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.66px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.66px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.66px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:1544.67px;letter-spacing:0px;white-space:nowrap">GSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:2104.04px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:2494.74px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:2947.47px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:576px;white-space:nowrap">22.83 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:2043.27px;white-space:nowrap">6/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:7280.2px;white-space:nowrap">2,350,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:9590.63px;white-space:nowrap">23,693</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5439.15px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5439.15px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5439.15px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:984.98px;white-space:nowrap">22.98 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:2452.25px;white-space:nowrap">1/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:7280.2px;white-space:nowrap">3,218,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:9813.05px;white-space:nowrap">172</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6019.63px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6019.63px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6019.63px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:1936.47px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:2425.45px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:2878.89px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:576px;white-space:nowrap">23.23 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:2043.27px;white-space:nowrap">3/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:7280.2px;white-space:nowrap">6,074,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:9590.63px;white-space:nowrap">18,158</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6600.12px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6600.12px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6600.12px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:1927.64px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:2292.17px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:2745.61px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:576px;white-space:nowrap">23.30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:2043.27px;white-space:nowrap">4/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:7280.2px;white-space:nowrap">5,656,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:9590.63px;white-space:nowrap">31,904</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7180.6px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7180.6px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7180.6px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:1927.64px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:2292.17px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:2745.61px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:576px;white-space:nowrap">23.75 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:2043.27px;white-space:nowrap">4/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:7280.2px;white-space:nowrap">3,786,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:9590.63px;white-space:nowrap">12,208</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7761.08px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7761.08px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7761.08px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:984.98px;white-space:nowrap">24.50 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:2452.25px;white-space:nowrap">1/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:7280.2px;white-space:nowrap">2,703,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:9902.03px;white-space:nowrap">18</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8341.57px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8341.57px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8341.57px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:576px;white-space:nowrap">24.81 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:2043.27px;white-space:nowrap">6/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">11,526,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:9590.63px;white-space:nowrap">63,179</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8922.05px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8922.05px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8922.05px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:1927.64px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:2292.17px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:2745.61px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:576px;white-space:nowrap">25.48 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:2043.27px;white-space:nowrap">4/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:7280.2px;white-space:nowrap">3,612,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:9679.61px;white-space:nowrap">5,048</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.54px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.54px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.54px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9694.54px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9694.54px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9694.54px;left:2114.28px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9694.54px;left:2896.78px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:984.98px;white-space:nowrap">25.55 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:2452.25px;white-space:nowrap">12/22/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:7280.2px;white-space:nowrap">7,723,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:9501.64px;white-space:nowrap">247,104</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10083.02px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10083.02px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10083.02px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10275.02px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10275.02px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10275.02px;left:2114.28px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10275.02px;left:2896.78px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:984.98px;white-space:nowrap">25.55 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:2452.25px;white-space:nowrap">12/22/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:7280.2px;white-space:nowrap">7,723,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:9501.64px;white-space:nowrap">247,104</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10663.51px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10663.51px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10663.51px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:576px;white-space:nowrap">26.09 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:2043.27px;white-space:nowrap">6/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:7280.2px;white-space:nowrap">7,683,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:9590.63px;white-space:nowrap">23,503</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11243.99px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11243.99px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11243.99px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11435.99px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11435.99px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11435.99px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11435.99px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:984.98px;white-space:nowrap">26.30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:7280.2px;white-space:nowrap">5,448,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:9501.64px;white-space:nowrap">250,869</div></div>
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			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="width:9192px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:8270px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3857.28px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4119.86px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5002.43px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5359.93px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5586.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5768.45px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6235.25px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6497.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6643.76px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7001.26px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7519.15px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8353.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">13</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABBoAAAUCCAYAAACkLpAdAAAACXBIWXMAABcRAAAXEQHKJvM/AAAfBUlEQVR4XuzbsXEcMRBFwQtNITAEhaIwEA5DYgarUwTvGzyKy2qjYT0DxtQYqMLjuq4HAAAAwGfIAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgNXjnPN+Qx9DA/Ad2FcAr2PH8gp3m6uPc78788M9nscFAAAA8Bn+PTT8uqG3oQH4DuwrgNexY3mFu83V27nfnfnh8m8FAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAF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			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:248.23px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6596.2px;white-space:nowrap">a </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:8041.75px;white-space:nowrap">aa</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:1243.04px;white-space:nowrap">Purchased </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:597.18px;left:2321.26px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:432px;white-space:nowrap">Calls </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:858.87px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:956.61px;white-space:nowrap">Over-the-Counter </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:872.23px;left:2325.59px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:1178.95px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1147.27px;left:1827.78px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:984.98px;white-space:nowrap">26.30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:7280.2px;white-space:nowrap">2,917,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:9412.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:9501.64px;white-space:nowrap">134,322</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1956.24px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1956.24px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1956.24px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:984.98px;white-space:nowrap">26.30 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:7280.2px;white-space:nowrap">2,917,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:9501.64px;white-space:nowrap">134,322</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2536.72px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2536.72px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2536.72px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:984.98px;white-space:nowrap">26.53 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:2452.25px;white-space:nowrap">1/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">11,584,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:9991.02px;white-space:nowrap">8</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3117.21px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3117.21px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3117.21px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:984.98px;white-space:nowrap">26.53 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:2452.25px;white-space:nowrap">1/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:7191.22px;letter-spacing:0px;white-space:nowrap">10,233,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:9991.02px;white-space:nowrap">7</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3697.69px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3697.69px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3697.69px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:984.98px;white-space:nowrap">26.53 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:2452.25px;white-space:nowrap">1/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:7280.2px;white-space:nowrap">1,081,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:9991.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.18px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.18px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.18px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:2114.28px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:2603.27px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:984.98px;white-space:nowrap">28.75 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:2452.25px;white-space:nowrap">3/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:7280.2px;white-space:nowrap">7,953,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:9679.61px;white-space:nowrap">1,992</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.66px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.66px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.66px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:984.98px;white-space:nowrap">29.19 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:2452.25px;white-space:nowrap">8/29/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:7280.2px;white-space:nowrap">7,049,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:9501.64px;white-space:nowrap">328,625</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5439.15px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5439.15px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5439.15px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:984.98px;white-space:nowrap">29.71 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:2452.25px;white-space:nowrap">8/09/24</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:7280.2px;white-space:nowrap">7,049,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:9501.64px;white-space:nowrap">303,628</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6019.63px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6019.63px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6019.63px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:984.98px;white-space:nowrap">29.73 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:2452.25px;white-space:nowrap">12/07/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:7191.22px;letter-spacing:0px;white-space:nowrap">10,182,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:9590.63px;white-space:nowrap">47,838</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6687.4px;left:9368.2px;white-space:nowrap">3,185,679</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7017.72px;left:432px;white-space:nowrap">Puts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7017.72px;left:823.17px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7017.72px;left:920.91px;white-space:nowrap">Over-the-Counter</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7292.77px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7292.77px;left:1178.95px;white-space:nowrap">Options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7521.25px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7521.25px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7521.25px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7713.25px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7713.25px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7713.25px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7713.25px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7713.25px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7905.25px;left:576px;white-space:nowrap">58.95 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7905.25px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7905.25px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7905.25px;left:1960.53px;white-space:nowrap">6/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7905.25px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7905.25px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7905.25px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">11,609,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7905.25px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7905.25px;left:9679.61px;white-space:nowrap">4,786</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8101.73px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8101.73px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8101.73px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8293.73px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8293.73px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8293.73px;left:1936.47px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8293.73px;left:2425.45px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8293.73px;left:2878.89px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8485.73px;left:576px;white-space:nowrap">68.50 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8485.73px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8485.73px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8485.73px;left:1960.53px;white-space:nowrap">3/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8485.73px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8485.73px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8485.73px;left:7280.2px;white-space:nowrap">5,224,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8485.73px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8485.73px;left:9679.61px;white-space:nowrap">2,490</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8682.22px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8682.22px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8682.22px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8874.22px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8874.22px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8874.22px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8874.22px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8874.22px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9066.22px;left:576px;white-space:nowrap">69.20 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9066.22px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9066.22px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9066.22px;left:1960.53px;white-space:nowrap">6/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9066.22px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9066.22px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9066.22px;left:7280.2px;white-space:nowrap">8,771,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9066.22px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9066.22px;left:9590.63px;white-space:nowrap">22,961</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9262.7px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9262.7px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9262.7px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9454.7px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9454.7px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9454.7px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9454.7px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9454.7px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.7px;left:576px;white-space:nowrap">69.20 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.7px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.7px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.7px;left:1960.53px;white-space:nowrap">6/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.7px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.7px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.7px;left:7280.2px;white-space:nowrap">5,160,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.7px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9646.7px;left:9590.63px;white-space:nowrap">13,508</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843.19px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843.19px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9843.19px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10035.19px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10035.19px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10035.19px;left:1927.64px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10035.19px;left:2292.17px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10035.19px;left:2745.61px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:576px;white-space:nowrap">71.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:1960.53px;white-space:nowrap">4/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:7191.22px;letter-spacing:0px;white-space:nowrap">15,093,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10227.19px;left:9590.63px;white-space:nowrap">31,694</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10423.67px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10423.67px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10423.67px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.67px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.67px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.67px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.67px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10615.67px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:576px;white-space:nowrap">71.44 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:1960.53px;white-space:nowrap">6/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">11,609,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10807.67px;left:9590.63px;white-space:nowrap">45,427</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11004.16px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11004.16px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11004.16px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11196.16px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11196.16px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11196.16px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11196.16px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:984.98px;white-space:nowrap">75.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:2369.52px;white-space:nowrap">12/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:7191.22px;letter-spacing:0px;white-space:nowrap">13,504,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11388.16px;left:9501.64px;white-space:nowrap">221,775</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11584.64px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11584.64px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11584.64px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11776.64px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11776.64px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11776.64px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11776.64px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11776.64px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11968.64px;left:576px;white-space:nowrap">76.20 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11968.64px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11968.64px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11968.64px;left:1960.53px;white-space:nowrap">6/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11968.64px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11968.64px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11968.64px;left:7191.22px;letter-spacing:0px;white-space:nowrap">18,005,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11968.64px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11968.64px;left:9501.64px;white-space:nowrap">184,027</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
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			<div style="width:10080px;height:936px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:8.65px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:929.45px;letter-spacing:8px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:1184.2px;letter-spacing:10.91px;white-space:nowrap">Investments</div></div>
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		<div style="background-color:transparent;height:1px;left:36px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:405px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:30px;left:80px;position:absolute;top:739px;width:458px">
			<div style="width:9164px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:912px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:994.69px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1257.27px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2139.84px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2497.34px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2723.44px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2905.86px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3372.66px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3635.23px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3781.17px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4138.67px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4656.56px;white-space:nowrap">statements.</div></div>
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		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">14</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:13px;left:72px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,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			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:248.23px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6596.2px;white-space:nowrap">a </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:8041.75px;white-space:nowrap">aa</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:1243.04px;white-space:nowrap">Purchased </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:597.18px;left:2321.26px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:432px;white-space:nowrap">Puts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:823.17px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:920.91px;white-space:nowrap">Over-the-Counter </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:872.23px;left:2289.89px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:1178.95px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1147.27px;left:1827.78px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:1545.38px;white-space:nowrap">HSBK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:2069.98px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:2754.67px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:984.98px;white-space:nowrap">$0.65, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:2052.25px;white-space:nowrap">2/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:7191.22px;letter-spacing:0px;white-space:nowrap">12,384,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:9724.06px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:9813.05px;white-space:nowrap">315</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1956.24px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1956.24px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1956.24px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:1545.38px;white-space:nowrap">HSBK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:2069.98px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2148.24px;left:2754.67px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:984.98px;white-space:nowrap">$0.65, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:2052.25px;white-space:nowrap">2/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:7191.22px;letter-spacing:0px;white-space:nowrap">10,320,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.24px;left:9813.05px;white-space:nowrap">291</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2536.72px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2536.72px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2536.72px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:2105.45px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:2469.98px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2728.72px;left:2923.42px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:576px;white-space:nowrap">$0.67, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:1065.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:1643.27px;white-space:nowrap">4/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:2206.85px;letter-spacing:51.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:7280.2px;white-space:nowrap">3,483,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2920.72px;left:9679.61px;white-space:nowrap">2,924</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3117.21px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3117.21px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3117.21px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3309.21px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:984.98px;white-space:nowrap">$0.68, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:2052.25px;white-space:nowrap">1/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:7280.2px;white-space:nowrap">9,580,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3501.21px;left:9813.05px;white-space:nowrap">128</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3697.69px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3697.69px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3697.69px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:2114.28px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3889.69px;left:2798.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:984.98px;white-space:nowrap">$0.68, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:2052.25px;white-space:nowrap">2/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:7280.2px;white-space:nowrap">5,067,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4081.69px;left:9813.05px;white-space:nowrap">230</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.18px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.18px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4278.18px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:1545.38px;white-space:nowrap">HSBK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:2069.98px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4470.18px;left:2558.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:984.98px;white-space:nowrap">$0.69, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:2052.25px;white-space:nowrap">3/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:7280.2px;white-space:nowrap">6,836,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4662.18px;left:9679.61px;white-space:nowrap">4,327</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.66px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.66px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4858.66px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:1545.38px;white-space:nowrap">HSBK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:2069.98px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5050.66px;left:2683.66px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:984.98px;white-space:nowrap">$0.69, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:2052.25px;white-space:nowrap">1/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:7280.2px;white-space:nowrap">7,998,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5242.66px;left:9813.05px;white-space:nowrap">272</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5439.15px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5439.15px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5439.15px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:1936.47px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5631.15px;left:2621.16px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:984.98px;white-space:nowrap">102.10 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:1518.81px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:1880.53px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:2458.5px;white-space:nowrap">2/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">31,118,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5823.15px;left:9501.64px;white-space:nowrap">183,174</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6019.63px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6019.63px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6019.63px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6211.63px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:576px;white-space:nowrap">102.65 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:1109.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:1471.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:2049.52px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:7191.22px;letter-spacing:0px;white-space:nowrap">26,440,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6403.63px;left:9501.64px;white-space:nowrap">525,158</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6600.12px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6600.12px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6600.12px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:1936.47px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6792.12px;left:2621.16px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:984.98px;white-space:nowrap">103.50 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:1518.81px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:1880.53px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:2458.5px;white-space:nowrap">2/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:7191.22px;letter-spacing:0px;white-space:nowrap">18,670,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6984.12px;left:9501.64px;white-space:nowrap">164,925</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7180.6px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7180.6px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7180.6px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:1545.38px;white-space:nowrap">GSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:2105.45px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7372.6px;left:2594.44px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:984.98px;white-space:nowrap">18.72 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:2452.25px;white-space:nowrap">3/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:7191.22px;letter-spacing:0px;white-space:nowrap">13,231,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7564.6px;left:9590.63px;white-space:nowrap">53,053</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7761.08px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7761.08px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7761.08px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7953.08px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:576px;white-space:nowrap">18.83 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:2043.27px;white-space:nowrap">6/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">11,252,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8145.08px;left:9501.64px;white-space:nowrap">107,755</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8341.57px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8341.57px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8341.57px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8533.57px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:984.98px;white-space:nowrap">19.43 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:2452.25px;white-space:nowrap">8/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:7280.2px;white-space:nowrap">5,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8725.57px;left:9513.52px;letter-spacing:-1.7px;white-space:nowrap">110,418</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8922.05px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8922.05px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8922.05px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9114.05px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:984.98px;white-space:nowrap">19.85 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:7280.2px;white-space:nowrap">1,458,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.05px;left:9590.63px;white-space:nowrap">51,173</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.54px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.54px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.54px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9694.54px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9694.54px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9694.54px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9694.54px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:984.98px;white-space:nowrap">19.85 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:7280.2px;white-space:nowrap">1,458,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9886.54px;left:9590.63px;white-space:nowrap">51,173</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10083.02px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10083.02px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10083.02px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10275.02px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10275.02px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10275.02px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10275.02px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:984.98px;white-space:nowrap">19.85 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:7280.2px;white-space:nowrap">2,725,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10467.02px;left:9590.63px;white-space:nowrap">95,642</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10663.51px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10663.51px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10663.51px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10855.51px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:984.98px;white-space:nowrap">19.88 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:2452.25px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:7280.2px;white-space:nowrap">5,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11047.51px;left:9501.64px;white-space:nowrap">156,867</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11243.99px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11243.99px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11243.99px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11435.99px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11435.99px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11435.99px;left:1936.47px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11435.99px;left:2425.45px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11435.99px;left:2878.89px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:576px;white-space:nowrap">20.66 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:2043.27px;white-space:nowrap">3/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:7280.2px;white-space:nowrap">3,396,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11627.99px;left:9501.64px;white-space:nowrap">158,068</div></div>
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			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="width:9192px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:8270px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3857.28px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4119.86px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5002.43px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5359.93px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5586.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5768.45px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6235.25px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6497.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6643.76px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7001.26px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7519.15px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8353.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
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		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">15</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-image:url(data:image/png;base64,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			<div style="width:10080px;height:12269px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">































































































































































			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:248.23px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:245.02px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6596.2px;white-space:nowrap">a </div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:8041.75px;white-space:nowrap">aa</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:458.11px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:458.11px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:563.31px;left:1243.04px;white-space:nowrap">Purchased </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:597.18px;left:2321.26px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:432px;white-space:nowrap">Puts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:823.17px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:872.23px;left:920.91px;white-space:nowrap">Over-the-Counter </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:872.23px;left:2289.89px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1147.27px;left:1178.95px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1147.27px;left:1827.78px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1375.76px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:1544.67px;letter-spacing:0px;white-space:nowrap">GSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:2104.04px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:2494.74px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1567.76px;left:2947.47px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:576px;white-space:nowrap">22.83 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:2043.27px;white-space:nowrap">6/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:7280.2px;white-space:nowrap">2,350,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:9412.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.76px;left:9501.64px;white-space:nowrap">320,643</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2043.52px;left:9368.2px;white-space:nowrap">2,513,204</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2354.54px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2354.54px;left:950.46px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2354.54px;left:1761.49px;white-space:nowrap">Purchased </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2354.54px;left:2839.71px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2354.54px;left:3406.32px;letter-spacing:-1.84px;white-space:nowrap">$11,522,113)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2354.54px;left:4614.66px;letter-spacing:50.89px;white-space:nowrap">....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2420.41px;left:9368.2px;white-space:nowrap">5,698,883</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2910.47px;left:432px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2910.47px;left:1009.73px;letter-spacing:-2.97px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2910.47px;left:1539.52px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2910.47px;left:2762.18px;white-space:nowrap">32.2%</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:3432.56px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;font-weight:bold;position:absolute;top:3432.56px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3172.82px;left:7388.22px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3364.82px;left:7423.4px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:3368.03px;left:8027.7px;white-space:nowrap">*</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3364.82px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3364.82px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:3577.92px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:3577.92px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:3577.92px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:3577.92px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:3577.92px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:3577.92px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3651.12px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3651.12px;left:1220.87px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3651.12px;left:2454.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3651.12px;left:2858.17px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3651.12px;left:3636.2px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3651.12px;left:4647.82px;white-space:nowrap">12.3%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3896.03px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3896.03px;left:1223.17px;white-space:nowrap">0.1%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4095.73px;left:328.29px;white-space:nowrap">b,f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.52px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.52px;left:1161.38px;white-space:nowrap">Letras </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.52px;left:1650.52px;white-space:nowrap">de </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.52px;left:1872.94px;white-space:nowrap">la </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.52px;left:2041.92px;white-space:nowrap">Nacion </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4092.52px;left:2575.59px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.52px;left:432px;white-space:nowrap">con </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.52px;left:725.59px;white-space:nowrap">Ajuste </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.52px;left:1214.73px;white-space:nowrap">por </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.52px;left:1490.44px;white-space:nowrap">CER</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4284.52px;left:1828.25px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4484.21px;left:380.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:1572.25px;white-space:nowrap">2/26/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:2113.44px;letter-spacing:51.35px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:7263.22px;white-space:nowrap">20,216,176</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4481px;left:9501.64px;white-space:nowrap">139,541</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4677.49px;left:576px;white-space:nowrap">5/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4677.49px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4677.49px;left:7263.22px;white-space:nowrap">57,704,938</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4677.49px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4677.49px;left:9501.64px;white-space:nowrap">417,869</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4877.18px;left:380.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:576px;white-space:nowrap">Index </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:1011.86px;white-space:nowrap">Linked, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:1572.25px;white-space:nowrap">9/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:2113.44px;letter-spacing:51.35px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:7263.22px;white-space:nowrap">31,338,205</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4873.97px;left:9501.64px;white-space:nowrap">224,483</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:5073.66px;left:328.29px;white-space:nowrap">b,f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5070.45px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5070.45px;left:1161.38px;white-space:nowrap">Letras </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5070.45px;left:1650.52px;white-space:nowrap">Del </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5070.45px;left:1932.16px;letter-spacing:-2.53px;white-space:nowrap">Tesoro </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5070.45px;left:2456.84px;white-space:nowrap">En </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5070.45px;left:2697px;white-space:nowrap">Pesos </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5070.45px;left:3177.31px;letter-spacing:-4.41px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5262.45px;left:576px;white-space:nowrap">Descuento</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5262.45px;left:1340.92px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5262.45px;left:1429.83px;white-space:nowrap">3/31/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5262.45px;left:2020.02px;letter-spacing:51.16px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5262.45px;left:7263.22px;white-space:nowrap">13,668,508</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5262.45px;left:8167.02px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5262.45px;left:9590.63px;white-space:nowrap">86,738</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5546.22px;left:9501.64px;white-space:nowrap">868,631</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5844.54px;left:432px;white-space:nowrap">Brazil </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5844.54px;left:912.16px;white-space:nowrap">1.5%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6044.24px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.03px;left:432px;white-space:nowrap">Brazil </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.03px;left:876.53px;white-space:nowrap">Letras </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.03px;left:1365.67px;white-space:nowrap">do </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.03px;left:1585.2px;letter-spacing:-2.22px;white-space:nowrap">Tesouro </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.03px;left:2198.88px;white-space:nowrap">Nacional</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6041.03px;left:2821.45px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6233.03px;left:576px;white-space:nowrap">7/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6233.03px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6233.03px;left:7263.22px;white-space:nowrap">65,187,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6233.03px;left:8190.69px;letter-spacing:-1.98px;white-space:nowrap">BRL</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6233.03px;left:9279.22px;white-space:nowrap">12,423,034</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6531.35px;left:432px;white-space:nowrap">Japan </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6531.35px;left:938.87px;white-space:nowrap">10.7%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:6731.05px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.4px;left:432px;white-space:nowrap">Japan </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.4px;left:909.5px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.4px;left:1579.27px;white-space:nowrap">Bills</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.4px;left:1872.63px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6938.88px;left:576px;white-space:nowrap">1/12/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6938.88px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6938.88px;left:7174.23px;white-space:nowrap">610,900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6938.88px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6938.88px;left:9368.2px;white-space:nowrap">5,916,554</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.37px;left:576px;white-space:nowrap">1/12/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.37px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.37px;left:7040.8px;white-space:nowrap">2,039,300,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.37px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7135.37px;left:9279.22px;white-space:nowrap">19,750,579</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7331.85px;left:576px;white-space:nowrap">1/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7331.85px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7331.85px;left:7174.23px;white-space:nowrap">520,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7331.85px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7331.85px;left:9368.2px;white-space:nowrap">5,036,282</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7528.34px;left:576px;white-space:nowrap">2/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7528.34px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7528.34px;left:7174.23px;white-space:nowrap">382,150,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7528.34px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7528.34px;left:9368.2px;white-space:nowrap">3,701,452</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7724.82px;left:576px;white-space:nowrap">3/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7724.82px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7724.82px;left:7040.8px;white-space:nowrap">4,532,900,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7724.82px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7724.82px;left:9279.22px;white-space:nowrap">43,908,342</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7921.3px;left:576px;white-space:nowrap">3/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7921.3px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7921.3px;left:7174.23px;white-space:nowrap">290,400,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7921.3px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7921.3px;left:9368.2px;white-space:nowrap">2,813,066</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8117.79px;left:576px;white-space:nowrap">3/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8117.79px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8117.79px;left:7174.23px;white-space:nowrap">226,500,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8117.79px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8117.79px;left:9368.2px;white-space:nowrap">2,194,089</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8314.27px;left:576px;white-space:nowrap">4/12/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8314.27px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8314.27px;left:7263.22px;white-space:nowrap">94,200,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8314.27px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8314.27px;left:9501.64px;white-space:nowrap">912,559</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8510.76px;left:576px;white-space:nowrap">6/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8510.76px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8510.76px;left:7174.23px;white-space:nowrap">293,850,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8510.76px;left:8205.45px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8510.76px;left:9368.2px;white-space:nowrap">2,847,368</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8794.52px;left:9279.22px;white-space:nowrap">87,080,291</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9073.54px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9073.54px;left:950.46px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9073.54px;left:1739.32px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9073.54px;left:2972.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9073.54px;left:3376.63px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9073.54px;left:4154.66px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9073.54px;left:5166.28px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9073.54px;left:5732.88px;white-space:nowrap">$103,914,431)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9073.54px;left:7124.25px;letter-spacing:54.66px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9107.41px;left:9190.23px;white-space:nowrap">100,371,956</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9467.88px;left:432px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9467.88px;left:876.53px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9467.88px;left:2110.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9467.88px;left:2513.84px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9467.88px;left:3291.86px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9467.88px;left:4303.48px;white-space:nowrap">12.3%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9712.79px;left:432px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9712.79px;left:974.19px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9712.79px;left:1498.88px;white-space:nowrap">12.3%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9912.49px;left:406.08px;white-space:nowrap">f</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9923.84px;left:432px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9923.84px;left:784.73px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9923.84px;left:1454.5px;white-space:nowrap">Bills</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9923.84px;left:1747.86px;white-space:nowrap">,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10120.32px;left:576px;white-space:nowrap">1/07/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10120.32px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10120.32px;left:7263.22px;white-space:nowrap">26,810,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10120.32px;left:9279.22px;white-space:nowrap">26,809,955</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10316.81px;left:576px;white-space:nowrap">3/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10316.81px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10316.81px;left:7263.22px;white-space:nowrap">47,340,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10316.81px;left:9279.22px;white-space:nowrap">47,333,688</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10513.29px;left:576px;white-space:nowrap">3/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10513.29px;left:1179.3px;letter-spacing:50.26px;white-space:nowrap">......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10513.29px;left:7263.22px;white-space:nowrap">26,810,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10513.29px;left:9279.22px;white-space:nowrap">26,806,738</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10797.06px;left:9190.23px;white-space:nowrap">100,950,381</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11076.08px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11076.08px;left:950.46px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11076.08px;left:1394.99px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11076.08px;left:2628.58px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11076.08px;left:3032.29px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11076.08px;left:3810.32px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11076.08px;left:4821.94px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11076.08px;left:5388.54px;white-space:nowrap">$100,948,216)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:11076.08px;left:6705.98px;letter-spacing:53.25px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11109.94px;left:9190.23px;white-space:nowrap">100,950,381</div></div>
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				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:994.69px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1257.27px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2139.84px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2497.34px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2723.44px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2905.86px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3372.66px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3635.23px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3781.17px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4138.67px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4656.56px;white-space:nowrap">statements.</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">16</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABBoAAAUDCAYAAABvckO4AAAACXBIWXMAABcRAAAXEQHKJvM/AAAf4UlEQVR4XuzbwW0rVxZFUYXgEDoEh1AhOIQO5YfgYQ0VijKrZqPn3scftvrRWAdYGu0BBxekipA+nuf5AAAAAPgrZAAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYfdz3fb2h34YG4ATerwD+Pt5j+Tu82139dr/fa+Yf7uP14wEAAAD4K/z3i4Yfb+hzaABO8Dk0APycz6GBP+tzaE7yeb/fa+YfLv+3AgAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAN7Tfd9fLw98pzxMAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAOA93ff99fLAd8rDBAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAADgPd33/evLBd8pDxMAAID39Hro+/3lC75THiYAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAeE/3ff/6csF3ysMEAADgPb0e+n5/+YLvlIcJAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAONa/Xn7AST6ePlwAAADOdD1mh62OFgAAgHNdj9lhq6MFAADgXNdjdtjqaAEAADjX9ZgdtjpaAAAAznU9ZoetjhYAAIBzXY/ZYaujBQAA4FzXY3bY6mgBAAA41/WYHbY6WgAAAM51PWaHrY4WAACAc12P2WGrowUAAOBc12N22OpoAQAAONf1mB22OloAAADOdT1mh62OFgAAgHNdj9lhq6MFAADgXNdjdtjqaAEAADjX9ZgdtjpaAAAAznU9ZoetjhYAAIBzXY/ZYaujBQAA4FzXY3bY6mgBAAA41/WYHbY6WgAAAM51PWaHrY4WAACAc12P2WGrowUAAOBc12N22OpoAQAAONcvz/++bIBjfDx9uAAAAACTDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADv6b7vf7/8gO+UhwkAAMB7ej30fb088J3yMAEAAHhPt79o4P8gDxMAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygCAn3ff9wMAvJWrPt+BP5YBAD9v+GUGADjLVZ/vwB/LAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAA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			<div style="width:10080px;height:12258px;position:absolute;top:1.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

























































































































			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:16.27px;left:432px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:16.27px;left:1009.73px;letter-spacing:-2.97px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:16.27px;left:1539.52px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:50.14px;left:2762.18px;white-space:nowrap">(continued)</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:346.36px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:346.36px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:278.62px;left:5992.83px;white-space:nowrap">Industry</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:278.62px;left:7530.33px;white-space:nowrap">Shares</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:278.62px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:278.62px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:491.72px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:491.72px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:491.72px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:491.72px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:491.72px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:491.72px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:564.92px;left:432px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:564.92px;left:1120.96px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:564.92px;left:1821.26px;white-space:nowrap">Funds </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:564.92px;left:2476.73px;white-space:nowrap">7.6%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:809.83px;left:432px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:809.83px;left:974.19px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:809.83px;left:1498.88px;white-space:nowrap">7.6%</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1009.53px;left:302.33px;white-space:nowrap">g,h</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1006.32px;left:432px;white-space:nowrap">Institutional </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1006.32px;left:1285.83px;white-space:nowrap">Fiduciary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1006.32px;left:1976.45px;letter-spacing:-0.99px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1006.32px;left:2379.42px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1006.32px;left:2477.16px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:576px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:1109.44px;white-space:nowrap">Portfolio, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:1785.3px;white-space:nowrap">0%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:2020.02px;letter-spacing:51.16px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:7191.22px;letter-spacing:0px;white-space:nowrap">62,199,567</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:9190.23px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1198.32px;left:9279.22px;white-space:nowrap">62,199,567</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:950.46px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:1639.42px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:2339.71px;white-space:nowrap">Funds </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:2995.18px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:3561.79px;white-space:nowrap">$62,199,567)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1477.33px;left:4823.79px;letter-spacing:51px;white-space:nowrap">..................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1511.2px;left:9279.22px;white-space:nowrap">62,199,567</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:1812.76px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1812.76px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:1812.76px;left:8058.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:1812.76px;left:8490.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:1812.76px;left:10074.44px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:950.46px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:1528.19px;letter-spacing:-2.97px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:2057.98px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:3280.63px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:3847.23px;white-space:nowrap">$267,062,214</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1877.5px;left:5070.67px;white-space:nowrap">)</div><div style="font-family:Arial, sans-serif;font-size:200px;position:absolute;top:1877.5px;left:5137.49px;letter-spacing:51.19px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1911.37px;left:9190.23px;white-space:nowrap">263,521,904</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:2125.65px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2125.65px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2125.65px;left:10074.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:2211.74px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2284.95px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2284.95px;left:950.46px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2284.95px;left:2173.11px;white-space:nowrap">(Cost </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2284.95px;left:2739.71px;white-space:nowrap">$880,162,754) </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2284.95px;left:4085.32px;white-space:nowrap">100.1%</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2284.95px;left:4823.79px;letter-spacing:51px;white-space:nowrap">..................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2318.81px;left:9101.25px;white-space:nowrap">$819,638,328</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2510.55px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2510.55px;left:1243.04px;letter-spacing:-0.45px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2510.55px;left:1983.76px;white-space:nowrap">(0.8)%</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2510.55px;left:2627.89px;letter-spacing:50.24px;white-space:nowrap">.......................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2544.42px;left:9261.64px;white-space:nowrap">(6,601,172)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2736.16px;left:432px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2736.16px;left:1013.54px;white-space:nowrap">Assets, </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2736.16px;left:1780.63px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2736.16px;left:2225.46px;white-space:nowrap">Liabilities </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2736.16px;left:3203.48px;white-space:nowrap">0.7%</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:2736.16px;left:3673.56px;letter-spacing:50.51px;white-space:nowrap">.............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2770.03px;left:9368.2px;white-space:nowrap">6,143,656</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3056.32px;left:432px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3056.32px;left:802.41px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3056.32px;left:1513.93px;white-space:nowrap">100.0%</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3056.32px;left:2209.63px;letter-spacing:50.15px;white-space:nowrap">...........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3090.19px;left:9101.25px;white-space:nowrap">$819,180,812</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:3304.47px;left:426.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:3304.47px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:3304.47px;left:10074.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:3390.57px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3468.52px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3468.52px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3660.52px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3468.52px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3660.52px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:3663.73px;left:8012.12px;white-space:nowrap">#</div><div style="font-family:Arial, sans-serif;font-size:116.6px;position:absolute;top:3916.32px;left:406.1px;white-space:nowrap">i</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3912.3px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3912.3px;left:1243.04px;letter-spacing:-0.3px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3912.3px;left:1983.76px;white-space:nowrap">(0.8)%</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:4160.45px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4189.21px;left:432px;white-space:nowrap">Calls </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4189.21px;left:858.88px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4189.21px;left:956.61px;white-space:nowrap">Over-the-Counter</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:4435.5px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4464.26px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4464.26px;left:1178.95px;white-space:nowrap">Options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4692.74px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4692.74px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4692.74px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4884.74px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4884.74px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4884.74px;left:1936.47px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4884.74px;left:2550.14px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:984.98px;white-space:nowrap">76.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:2369.52px;white-space:nowrap">1/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:7280.2px;white-space:nowrap">7,836,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5076.74px;left:9406.95px;letter-spacing:-1.32px;white-space:nowrap">(278,115)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.23px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.23px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5273.23px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5465.23px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5465.23px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5465.23px;left:1936.47px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5465.23px;left:2550.14px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:984.98px;white-space:nowrap">76.25 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:2369.52px;white-space:nowrap">1/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:7280.2px;white-space:nowrap">8,734,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5657.23px;left:9395.08px;white-space:nowrap">(289,837)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5853.71px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5853.71px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5853.71px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6045.71px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6045.71px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6045.71px;left:1927.64px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6045.71px;left:2292.17px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6045.71px;left:2745.61px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:576px;white-space:nowrap">76.80 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:1960.53px;white-space:nowrap">4/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">11,319,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6237.71px;left:9395.08px;white-space:nowrap">(398,525)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6434.2px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6434.2px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6434.2px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6626.2px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6626.2px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6626.2px;left:1936.47px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6626.2px;left:2550.14px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:984.98px;white-space:nowrap">76.95 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:2369.52px;white-space:nowrap">1/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:7280.2px;white-space:nowrap">9,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6818.2px;left:9395.08px;white-space:nowrap">(249,378)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7014.68px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7014.68px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7014.68px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7206.68px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7206.68px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7206.68px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7206.68px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7206.68px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:576px;white-space:nowrap">78.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:1960.53px;white-space:nowrap">6/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:7280.2px;white-space:nowrap">8,707,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7398.68px;left:9395.08px;white-space:nowrap">(261,198)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7595.17px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7595.17px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7595.17px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7787.17px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7787.17px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7787.17px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7787.17px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7787.17px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:576px;white-space:nowrap">80.50 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:1960.53px;white-space:nowrap">6/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:7280.2px;white-space:nowrap">9,003,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.17px;left:9395.08px;white-space:nowrap">(143,933)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8175.65px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8175.65px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8175.65px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8367.65px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8367.65px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8367.65px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8367.65px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:984.98px;white-space:nowrap">81.20 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:2369.52px;white-space:nowrap">12/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:7280.2px;white-space:nowrap">6,752,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8559.65px;left:9395.08px;white-space:nowrap">(147,057)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8756.13px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8756.13px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8756.13px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8948.13px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8948.13px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8948.13px;left:2114.28px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8948.13px;left:2798.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:984.98px;white-space:nowrap">$0.72, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:2052.25px;white-space:nowrap">2/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:7280.2px;white-space:nowrap">1,818,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9140.13px;left:9484.06px;white-space:nowrap">(93,859)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9336.62px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9336.62px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9336.62px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9528.62px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9528.62px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9528.62px;left:2105.45px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9528.62px;left:2469.98px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9528.62px;left:2923.42px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:576px;white-space:nowrap">$0.72, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:1065.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:1643.27px;white-space:nowrap">4/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:2206.85px;letter-spacing:51.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:7280.2px;white-space:nowrap">1,193,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9720.62px;left:9484.06px;white-space:nowrap">(61,742)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9917.1px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9917.1px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9917.1px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10109.1px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10109.1px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10109.1px;left:2114.28px;white-space:nowrap">May </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10109.1px;left:2461px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10109.1px;left:2914.44px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:576px;white-space:nowrap">$0.74, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:1065.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:1643.27px;white-space:nowrap">5/12/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:2206.85px;letter-spacing:51.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:7280.2px;white-space:nowrap">6,434,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10301.1px;left:9395.08px;white-space:nowrap">(256,771)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10497.59px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10497.59px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10497.59px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.59px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.59px;left:1545.38px;white-space:nowrap">HSBK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.59px;left:2069.98px;white-space:nowrap">May </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.59px;left:2416.7px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10689.59px;left:2870.14px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:576px;white-space:nowrap">$0.78, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:1065.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:1643.27px;white-space:nowrap">5/05/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:2206.85px;letter-spacing:51.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:7280.2px;white-space:nowrap">2,978,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10881.59px;left:9484.06px;white-space:nowrap">(48,306)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11078.07px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11078.07px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11078.07px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11270.07px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11270.07px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11270.07px;left:1936.47px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11270.07px;left:2621.16px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:984.98px;white-space:nowrap">107.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:1518.81px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:1880.53px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:2458.5px;white-space:nowrap">2/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:7191.22px;letter-spacing:0px;white-space:nowrap">62,235,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11462.07px;left:9484.06px;white-space:nowrap">(52,066)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11658.56px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11658.56px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11658.56px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11850.56px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11850.56px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11850.56px;left:1936.47px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11850.56px;left:2621.16px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12042.56px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12042.56px;left:984.98px;white-space:nowrap">107.65 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12042.56px;left:1518.81px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12042.56px;left:1880.53px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12042.56px;left:2458.5px;white-space:nowrap">2/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12042.56px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12042.56px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12042.56px;left:7191.22px;letter-spacing:0px;white-space:nowrap">12,447,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12042.56px;left:9573.05px;white-space:nowrap">(2,080)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:7842.83px;letter-spacing:8.65px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8772.28px;letter-spacing:8px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9027.03px;letter-spacing:10.91px;white-space:nowrap">Investments</div></div>
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		<div style="background-color:transparent;height:1px;left:54px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:30px;left:54px;position:absolute;top:739px;width:459px">
			<div style="width:9192px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:8270px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3857.28px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4119.86px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5002.43px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5359.93px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5586.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5768.45px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6235.25px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6497.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6643.76px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7001.26px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7519.15px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8353.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">17</div></div>
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		<div style="background-color:transparent;height:13px;left:527px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:13px;left:514px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,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			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:37.63px;left:10068.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:375.31px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;font-weight:bold;position:absolute;top:375.31px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:310.79px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:307.58px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:116.6px;position:absolute;top:597.89px;left:406.1px;white-space:nowrap">i</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:593.87px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:593.87px;left:1243.04px;letter-spacing:-0.4px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:627.74px;left:1983.76px;white-space:nowrap">(continued)</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:842.02px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:432px;white-space:nowrap">Calls </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:858.87px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:956.61px;white-space:nowrap">Over-the-Counter </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:870.79px;left:2325.59px;white-space:nowrap">(continued)</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:1117.07px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1145.83px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1145.83px;left:1178.95px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1145.83px;left:1827.78px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:576px;white-space:nowrap">109.90 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:1109.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:1471.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:2049.52px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:7191.22px;letter-spacing:0px;white-space:nowrap">26,440,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:9395.08px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:9484.06px;white-space:nowrap">(73,307)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:1545.38px;white-space:nowrap">GSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:2105.45px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:2594.44px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:984.98px;white-space:nowrap">21.48 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:2452.25px;white-space:nowrap">3/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:7191.22px;letter-spacing:0px;white-space:nowrap">15,751,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:9395.08px;white-space:nowrap">(156,758)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:1927.64px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:2292.17px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:2745.61px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:576px;white-space:nowrap">22.38 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:2043.27px;white-space:nowrap">4/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:7280.2px;white-space:nowrap">2,828,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:9484.06px;white-space:nowrap">(25,495)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3115.77px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3115.77px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3115.77px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:576px;white-space:nowrap">22.56 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:2043.27px;white-space:nowrap">6/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:7280.2px;white-space:nowrap">6,189,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:9484.06px;white-space:nowrap">(77,101)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3696.25px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3696.25px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3696.25px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:2114.28px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:2896.78px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:984.98px;white-space:nowrap">22.75 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:2452.25px;white-space:nowrap">12/22/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:7280.2px;white-space:nowrap">2,317,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:9395.08px;white-space:nowrap">(132,792)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4276.74px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4276.74px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4276.74px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:2114.28px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:2896.78px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:984.98px;white-space:nowrap">22.75 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:2452.25px;white-space:nowrap">12/22/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:7280.2px;white-space:nowrap">2,317,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:9395.08px;white-space:nowrap">(132,792)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4857.22px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4857.22px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4857.22px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5049.22px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5049.22px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5049.22px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5049.22px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:984.98px;white-space:nowrap">23.12 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:2452.25px;white-space:nowrap">1/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:7413.64px;white-space:nowrap">858,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:9706.48px;white-space:nowrap">(168)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5437.71px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5437.71px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5437.71px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5629.71px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5629.71px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5629.71px;left:1927.64px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5629.71px;left:2292.17px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5629.71px;left:2745.61px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:576px;white-space:nowrap">24.57 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:2043.27px;white-space:nowrap">4/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:7280.2px;white-space:nowrap">1,414,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:9573.05px;white-space:nowrap">(4,457)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6018.19px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6018.19px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6018.19px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6210.19px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6210.19px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6210.19px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6210.19px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:984.98px;white-space:nowrap">25.45 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:2452.25px;white-space:nowrap">1/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:7280.2px;white-space:nowrap">1,931,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:9884.45px;white-space:nowrap">(4)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6598.68px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6598.68px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6598.68px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6790.68px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6790.68px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6790.68px;left:1936.47px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6790.68px;left:2425.45px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6790.68px;left:2878.89px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:576px;white-space:nowrap">25.87 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:2043.27px;white-space:nowrap">3/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:7280.2px;white-space:nowrap">5,765,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:9573.05px;white-space:nowrap">(4,010)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7179.16px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7179.16px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7179.16px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.16px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.16px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.16px;left:1936.47px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.16px;left:2425.45px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.16px;left:2878.89px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:576px;white-space:nowrap">26.08 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:2043.27px;white-space:nowrap">3/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:7280.2px;white-space:nowrap">2,430,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:9573.05px;white-space:nowrap">(1,526)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7759.64px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7759.64px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7759.64px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7951.64px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7951.64px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7951.64px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7951.64px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:984.98px;white-space:nowrap">26.61 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:2452.25px;white-space:nowrap">8/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:7280.2px;white-space:nowrap">5,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:9484.06px;white-space:nowrap">(26,803)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8340.13px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8340.13px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8340.13px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8532.13px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8532.13px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8532.13px;left:1927.64px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8532.13px;left:2292.17px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8532.13px;left:2745.61px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:576px;white-space:nowrap">27.24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:2043.27px;white-space:nowrap">4/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:7280.2px;white-space:nowrap">7,235,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:9573.05px;white-space:nowrap">(4,916)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8920.61px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8920.61px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8920.61px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9112.61px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9112.61px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9112.61px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9112.61px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:984.98px;white-space:nowrap">27.38 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:2452.25px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:7280.2px;white-space:nowrap">5,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:9484.06px;white-space:nowrap">(19,753)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9501.1px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9501.1px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9501.1px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9693.1px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9693.1px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9693.1px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9693.1px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9885.1px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9885.1px;left:984.98px;white-space:nowrap">27.93 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9885.1px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9885.1px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9885.1px;left:2452.25px;white-space:nowrap">12/07/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9885.1px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9885.1px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9885.1px;left:7280.2px;white-space:nowrap">3,394,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9885.1px;left:9484.06px;white-space:nowrap">(22,500)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10081.58px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10081.58px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10081.58px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10273.58px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10273.58px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10273.58px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10273.58px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10273.58px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10465.58px;left:576px;white-space:nowrap">28.24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10465.58px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10465.58px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10465.58px;left:2043.27px;white-space:nowrap">6/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10465.58px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10465.58px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10465.58px;left:7280.2px;white-space:nowrap">7,683,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10465.58px;left:9484.06px;white-space:nowrap">(12,240)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10662.07px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10662.07px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10662.07px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10854.07px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10854.07px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10854.07px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10854.07px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10854.07px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11046.07px;left:576px;white-space:nowrap">28.40 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11046.07px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11046.07px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11046.07px;left:2043.27px;white-space:nowrap">6/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11046.07px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11046.07px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11046.07px;left:7280.2px;white-space:nowrap">7,684,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11046.07px;left:9484.06px;white-space:nowrap">(14,075)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11242.55px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11242.55px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11242.55px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11434.55px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11434.55px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11434.55px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11434.55px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11626.55px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11626.55px;left:984.98px;white-space:nowrap">29.21 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11626.55px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11626.55px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11626.55px;left:2452.25px;white-space:nowrap">1/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11626.55px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11626.55px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11626.55px;left:7280.2px;white-space:nowrap">2,574,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11626.55px;left:9920px;white-space:nowrap">&#8212;</div></div>
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			<div style="width:9164px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:912px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:994.69px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1257.27px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2139.84px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2497.34px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2723.44px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2905.86px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3372.66px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3635.23px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3781.17px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4138.67px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4656.56px;white-space:nowrap">statements.</div></div>
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		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">18</div></div>
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		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABBoAAAUBCAYAAAAiuuKzAAAACXBIWXMAABcRAAAXEQHKJvM/AAAe/0lEQVR4XuzbsXEcMRBFwQtNITAEhaIwEA5DYgarUwTvGzyKy2qjYT0DxtQYqMLjuq4HAAAAwGfIAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGD1OOf8uqG3oQH4DuwrgNexY3mFu83V27nfnfnhHs/jAgAAAPgM/x4a3m/oY2gAvgP7CuB17Fhe4W5z9XHud2d+uPxbAQAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAAD3dM75/fQHvlIOJgAAAPd0PDTwH+RgAgAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAPd0znl/uuAr5WACAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAA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			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:37.63px;left:10068.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:375.31px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;font-weight:bold;position:absolute;top:375.31px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:310.79px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:307.58px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:116.6px;position:absolute;top:597.89px;left:406.1px;white-space:nowrap">i</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:593.87px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:593.87px;left:1243.04px;letter-spacing:-0.4px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:627.74px;left:1983.76px;white-space:nowrap">(continued)</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:842.02px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:432px;white-space:nowrap">Calls </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:858.88px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:956.61px;white-space:nowrap">Over-the-Counter </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:870.79px;left:2325.59px;white-space:nowrap">(continued)</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:1117.07px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1145.83px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1145.83px;left:1178.95px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1145.83px;left:1827.78px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:1544.67px;letter-spacing:0px;white-space:nowrap">GSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:2104.04px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:2494.74px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:2947.47px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:576px;white-space:nowrap">30.36 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:2043.27px;white-space:nowrap">6/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:7280.2px;white-space:nowrap">2,350,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:9484.06px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:9573.05px;white-space:nowrap">(1,913)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:984.98px;white-space:nowrap">34.95 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:7280.2px;white-space:nowrap">1,458,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:9484.06px;white-space:nowrap">(24,245)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:984.98px;white-space:nowrap">34.95 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:7280.2px;white-space:nowrap">1,458,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:9484.06px;white-space:nowrap">(24,244)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3203.05px;left:9261.64px;white-space:nowrap">(3,041,966)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3533.38px;left:432px;white-space:nowrap">Puts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3533.38px;left:823.17px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3533.38px;left:920.91px;white-space:nowrap">Over-the-Counter</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3808.42px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3808.42px;left:1178.95px;white-space:nowrap">Options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4036.9px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4036.9px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4036.9px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4228.9px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4228.9px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4228.9px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4228.9px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4228.9px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4420.9px;left:576px;white-space:nowrap">64.86 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4420.9px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4420.9px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4420.9px;left:1960.53px;white-space:nowrap">6/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4420.9px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4420.9px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4420.9px;left:7191.22px;letter-spacing:0px;white-space:nowrap">17,414,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4420.9px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4420.9px;left:9484.06px;white-space:nowrap">(19,853)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4617.39px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4617.39px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4617.39px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4809.39px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4809.39px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4809.39px;left:1927.64px;white-space:nowrap">April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4809.39px;left:2292.17px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4809.39px;left:2745.61px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5001.39px;left:576px;white-space:nowrap">66.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5001.39px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5001.39px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5001.39px;left:1960.53px;white-space:nowrap">4/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5001.39px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5001.39px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5001.39px;left:7280.2px;white-space:nowrap">7,546,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5001.39px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5001.39px;left:9573.05px;white-space:nowrap">(5,427)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5197.87px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5197.87px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5197.87px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5389.87px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5389.87px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5389.87px;left:1936.47px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5389.87px;left:2718.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5581.87px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5581.87px;left:984.98px;white-space:nowrap">68.40 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5581.87px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5581.87px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5581.87px;left:2369.52px;white-space:nowrap">12/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5581.87px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5581.87px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5581.87px;left:7280.2px;white-space:nowrap">6,752,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5581.87px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5581.87px;left:9484.06px;white-space:nowrap">(45,395)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5778.36px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5778.36px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5778.36px;left:1766.22px;letter-spacing:-2.29px;white-space:nowrap">AUD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5970.36px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5970.36px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5970.36px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5970.36px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5970.36px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:576px;white-space:nowrap">71.60 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:1960.53px;white-space:nowrap">6/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:7191.22px;letter-spacing:0px;white-space:nowrap">18,005,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.36px;left:9484.06px;white-space:nowrap">(70,831)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6358.84px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6358.84px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6358.84px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6550.84px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6550.84px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6550.84px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6550.84px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:984.98px;white-space:nowrap">$0.64, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:2052.25px;white-space:nowrap">1/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:7280.2px;white-space:nowrap">4,790,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6742.84px;left:9884.45px;white-space:nowrap">(7)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.33px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.33px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6939.33px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7131.33px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7131.33px;left:1545.38px;white-space:nowrap">HSBK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7131.33px;left:2069.98px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7131.33px;left:2558.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:984.98px;white-space:nowrap">$0.65, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:2052.25px;white-space:nowrap">3/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:7280.2px;white-space:nowrap">2,773,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7323.33px;left:9706.48px;white-space:nowrap">(504)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7519.81px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7519.81px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7519.81px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7711.81px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7711.81px;left:1545.38px;white-space:nowrap">HSBK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7711.81px;left:2069.98px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7711.81px;left:2683.66px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:984.98px;white-space:nowrap">$0.66, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:2052.25px;white-space:nowrap">1/27/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:7280.2px;white-space:nowrap">3,413,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7903.81px;left:9795.47px;white-space:nowrap">(26)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8100.29px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8100.29px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8100.29px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8292.29px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8292.29px;left:1545.38px;white-space:nowrap">HSBK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8292.29px;left:2069.98px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8292.29px;left:2683.66px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:984.98px;white-space:nowrap">$0.66, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:2052.25px;white-space:nowrap">1/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:7280.2px;white-space:nowrap">3,870,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8484.29px;left:9795.47px;white-space:nowrap">(21)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8680.78px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8680.78px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8680.78px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8872.78px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8872.78px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8872.78px;left:2114.28px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8872.78px;left:2798.97px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:984.98px;white-space:nowrap">$0.69, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:2052.25px;white-space:nowrap">2/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:7280.2px;white-space:nowrap">1,818,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9064.78px;left:9706.48px;white-space:nowrap">(195)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9261.26px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9261.26px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9261.26px;left:1766.22px;white-space:nowrap">AUD/USD, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9453.26px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9453.26px;left:1545.38px;white-space:nowrap">HSBK, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9453.26px;left:2069.98px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9453.26px;left:2683.66px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:984.98px;white-space:nowrap">$0.72, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:1474.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:2052.25px;white-space:nowrap">1/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:2673.91px;letter-spacing:53.73px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:7280.2px;white-space:nowrap">2,588,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:8158.19px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9645.26px;left:9706.48px;white-space:nowrap">(472)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9841.75px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9841.75px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9841.75px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10033.75px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10033.75px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10033.75px;left:1927.64px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10033.75px;left:2470.22px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10033.75px;left:2923.66px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:576px;white-space:nowrap">98.00 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:1020.84px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:1382.56px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:1960.53px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:2487.09px;letter-spacing:52.54px;white-space:nowrap">........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:7280.2px;white-space:nowrap">8,823,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10225.75px;left:9484.06px;white-space:nowrap">(65,806)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10422.23px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10422.23px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10422.23px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10614.23px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10614.23px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10614.23px;left:1936.47px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10614.23px;left:2621.16px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:984.98px;white-space:nowrap">98.80 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:1429.83px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:1791.55px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:2369.52px;white-space:nowrap">2/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:2954.15px;letter-spacing:58.51px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:7191.22px;letter-spacing:0px;white-space:nowrap">10,891,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10806.23px;left:9573.05px;white-space:nowrap">(5,038)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11002.72px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11002.72px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11002.72px;left:1775.05px;letter-spacing:-2.29px;white-space:nowrap">USD/JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11194.72px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11194.72px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11194.72px;left:1936.47px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11194.72px;left:2621.16px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:984.98px;white-space:nowrap">104.78 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:1518.81px;letter-spacing:-4.12px;white-space:nowrap">JPY, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:1880.53px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:2458.5px;white-space:nowrap">2/01/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:7280.2px;white-space:nowrap">2,863,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11386.72px;left:9484.06px;white-space:nowrap">(49,414)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11583.2px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11583.2px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11583.2px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11775.2px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11775.2px;left:1545.38px;white-space:nowrap">GSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11775.2px;left:2105.45px;white-space:nowrap">March </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11775.2px;left:2594.44px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:984.98px;white-space:nowrap">19.40 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:2452.25px;white-space:nowrap">3/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:7191.22px;letter-spacing:0px;white-space:nowrap">13,231,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11967.2px;left:9395.08px;white-space:nowrap">(160,636)</div></div>
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			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="width:9192px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:8270px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3857.28px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4119.86px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5002.43px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5359.93px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5586.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5768.45px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6235.25px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6497.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6643.76px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7001.26px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7519.15px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8353.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">19</div></div>
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		<div style="background-image:url(data:image/png;base64,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			<div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:37.63px;left:10068.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;position:absolute;top:375.31px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:80px;font-weight:bold;position:absolute;top:375.31px;left:432px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:5824px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:6472.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:5877.2px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:115.58px;left:7424.08px;white-space:nowrap">Notional</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:7407.83px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:310.79px;left:8012.12px;white-space:nowrap">#</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:160px;position:absolute;top:307.58px;left:8407.02px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:307.58px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:432px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:6612.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:8052.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;position:absolute;top:520.67px;left:8484.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:520.67px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:116.6px;position:absolute;top:597.89px;left:406.1px;white-space:nowrap">i</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:593.87px;left:432px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:593.87px;left:1243.04px;letter-spacing:-0.4px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:627.74px;left:1983.76px;white-space:nowrap">(continued)</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:842.02px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:432px;white-space:nowrap">Puts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:823.17px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:870.79px;left:920.91px;white-space:nowrap">Over-the-Counter </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:870.79px;left:2289.89px;white-space:nowrap">(continued)</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:10px;position:absolute;top:1117.07px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1145.83px;left:432px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1145.83px;left:1178.95px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1145.83px;left:1827.78px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1374.32px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:1544.67px;letter-spacing:0px;white-space:nowrap">GSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:2104.04px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:2494.74px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1566.32px;left:2947.47px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:576px;white-space:nowrap">19.61 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:2043.27px;white-space:nowrap">6/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:7280.2px;white-space:nowrap">2,350,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:9395.08px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1758.32px;left:9484.06px;white-space:nowrap">(49,784)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1954.8px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2146.8px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:576px;white-space:nowrap">19.79 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:2043.27px;white-space:nowrap">6/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:7203.09px;letter-spacing:-1.19px;white-space:nowrap">11,252,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2338.8px;left:9395.08px;white-space:nowrap">(289,661)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2535.29px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:2114.28px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2727.29px;left:2896.78px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:984.98px;white-space:nowrap">19.93 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:2452.25px;white-space:nowrap">12/22/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:7280.2px;white-space:nowrap">2,317,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2919.29px;left:9484.06px;white-space:nowrap">(83,882)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3115.77px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3115.77px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3115.77px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:2114.28px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3307.77px;left:2896.78px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:984.98px;white-space:nowrap">19.93 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:2452.25px;white-space:nowrap">12/22/22</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:7280.2px;white-space:nowrap">2,317,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3499.77px;left:9484.06px;white-space:nowrap">(83,882)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3696.25px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3696.25px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3696.25px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:1936.47px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:2327.88px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3888.25px;left:2781.31px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:576px;white-space:nowrap">20.24 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:1020.84px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:1465.3px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:2043.27px;white-space:nowrap">6/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:2580.5px;letter-spacing:53.05px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:7280.2px;white-space:nowrap">3,842,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4080.25px;left:9395.08px;white-space:nowrap">(143,682)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4276.74px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4276.74px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4276.74px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4468.74px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:984.98px;white-space:nowrap">20.39 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:2452.25px;white-space:nowrap">1/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:7413.64px;white-space:nowrap">858,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4660.74px;left:9484.06px;white-space:nowrap">(25,557)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4857.22px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4857.22px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4857.22px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5049.22px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5049.22px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5049.22px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5049.22px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:984.98px;white-space:nowrap">20.94 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:2452.25px;white-space:nowrap">8/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:7280.2px;white-space:nowrap">5,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5241.22px;left:9395.08px;white-space:nowrap">(316,922)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5437.71px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5437.71px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5437.71px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5629.71px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5629.71px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5629.71px;left:2105.45px;white-space:nowrap">August </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5629.71px;left:2648.03px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:984.98px;white-space:nowrap">21.43 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:2452.25px;letter-spacing:-1.7px;white-space:nowrap">8/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:7280.2px;white-space:nowrap">5,287,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5821.71px;left:9395.08px;white-space:nowrap">(408,983)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6018.19px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6018.19px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6018.19px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6210.19px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6210.19px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6210.19px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6210.19px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:984.98px;white-space:nowrap">22.32 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:7280.2px;white-space:nowrap">2,917,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6402.19px;left:9395.08px;white-space:nowrap">(254,726)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6598.68px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6598.68px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6598.68px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6790.68px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6790.68px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6790.68px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6790.68px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:984.98px;white-space:nowrap">22.32 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:7280.2px;white-space:nowrap">2,917,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6982.68px;left:9395.08px;white-space:nowrap">(254,726)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7179.16px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7179.16px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7179.16px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.16px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.16px;left:1545.38px;white-space:nowrap">CITI, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.16px;left:1936.47px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.16px;left:2550.06px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:984.98px;white-space:nowrap">22.32 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:2452.25px;white-space:nowrap">10/19/23</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:3140.98px;letter-spacing:77.61px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:7280.2px;white-space:nowrap">5,448,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7563.16px;left:9395.08px;white-space:nowrap">(475,744)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7759.64px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7759.64px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7759.64px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7951.64px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7951.64px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7951.64px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7951.64px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:984.98px;white-space:nowrap">22.37 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:2452.25px;white-space:nowrap">1/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:7280.2px;white-space:nowrap">1,661,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8143.64px;left:9395.08px;white-space:nowrap">(202,802)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8340.13px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8340.13px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8340.13px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8532.13px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8532.13px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8532.13px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8532.13px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:984.98px;white-space:nowrap">23.10 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:2452.25px;white-space:nowrap">1/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:7280.2px;white-space:nowrap">3,217,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8724.13px;left:9406.95px;letter-spacing:-1.32px;white-space:nowrap">(511,074)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8920.61px;left:432px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8920.61px;left:1018.95px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8920.61px;left:1775.05px;white-space:nowrap">USD/MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9112.61px;left:576px;white-space:nowrap">Counterparty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9112.61px;left:1545.38px;white-space:nowrap">MSCO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9112.61px;left:2114.28px;white-space:nowrap">January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9112.61px;left:2727.95px;white-space:nowrap">Strike </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:576px;white-space:nowrap">Price </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:984.98px;white-space:nowrap">23.10 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:1429.83px;white-space:nowrap">MXN, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:1874.28px;white-space:nowrap">Expires </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:2452.25px;white-space:nowrap">1/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:3047.57px;letter-spacing:63.28px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:6535.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:7413.64px;white-space:nowrap">215,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9304.61px;left:9484.06px;white-space:nowrap">(34,156)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9588.38px;left:9261.64px;white-space:nowrap">(3,559,206)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9867.4px;left:432px;letter-spacing:-2.47px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9867.4px;left:950.46px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9867.4px;left:1761.49px;letter-spacing:-0.45px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9867.4px;left:2502.21px;white-space:nowrap">(Premiums </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9867.4px;left:3591.47px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9867.4px;left:4458.76px;white-space:nowrap">$6,539,685)</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:9867.4px;left:5555.75px;letter-spacing:51.52px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9901.26px;left:9172.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9901.26px;left:9261.64px;white-space:nowrap">(6,601,172)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:8.65px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:929.45px;letter-spacing:8px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:1184.2px;letter-spacing:10.91px;white-space:nowrap">Investments</div></div>
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			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="width:9164px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:912px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:994.69px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1257.27px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2139.84px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2497.34px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2723.44px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2905.86px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3372.66px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3635.23px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3781.17px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4138.67px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4656.56px;white-space:nowrap">statements.</div></div>
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		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">20</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:1901.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:2201.31px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:2661.59px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:3011.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:3312.16px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:4062.57px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:4712.78px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:5543.44px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:6323.73px;white-space:nowrap">outstanding. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:7354.51px;white-space:nowrap">See </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:7724.79px;white-space:nowrap">Note </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3582.93px;left:8155.02px;white-space:nowrap">1(c).&#160;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:22.81px;left:0px;white-space:nowrap"># </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:63.81px;white-space:nowrap">Notional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:581.62px;white-space:nowrap">amount </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1055.76px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1187.01px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1405.92px;white-space:nowrap">number </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1887.25px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2033.19px;white-space:nowrap">units </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2346.86px;text-rendering:optimizeLegibility;white-space:nowrap">specified </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2901.23px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:3039.83px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:3258.73px;white-space:nowrap">contract, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:3798.5px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:4053.89px;white-space:nowrap">can </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:4301.94px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:4754.2px;letter-spacing:0px;white-space:nowrap">currency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:5293.81px;white-space:nowrap">units, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:5643.97px;white-space:nowrap">bushels, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:6169.2px;white-space:nowrap">shares, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:6636px;white-space:nowrap">pounds, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:7139.44px;white-space:nowrap">barrels </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:7576.94px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:7730.06px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:8065.61px;white-space:nowrap">units. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:8415.76px;white-space:nowrap">Currency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:8984.44px;white-space:nowrap">units </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:9298.11px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:9524.2px;white-space:nowrap">stated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:9918.19px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:210.59px;left:0px;white-space:nowrap">U.S. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:210.59px;left:291.64px;white-space:nowrap">dollars </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:210.59px;left:714.61px;white-space:nowrap">unless </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:210.59px;left:1130.39px;white-space:nowrap">otherwise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:210.59px;left:1728.36px;white-space:nowrap">indicated.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:411.3px;left:0px;white-space:nowrap">* </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:49.69px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:312.27px;white-space:nowrap">principal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:837.35px;white-space:nowrap">amount </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:1311.49px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:1442.74px;white-space:nowrap">stated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:1836.72px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:1975.32px;white-space:nowrap">U.S. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:2266.96px;white-space:nowrap">dollars </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:2689.93px;white-space:nowrap">unless </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:3105.71px;white-space:nowrap">otherwise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:407.08px;left:3703.68px;white-space:nowrap">indicated.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:607.78px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:63.81px;white-space:nowrap">Redemption </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:807.72px;white-space:nowrap">price </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:1128.58px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:1274.51px;white-space:nowrap">maturity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:1777.64px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:1908.89px;white-space:nowrap">adjusted </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:2441.47px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:2631.08px;text-rendering:optimizeLegibility;white-space:nowrap">inflation. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:3156.31px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:3426.23px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:603.56px;left:3739.83px;white-space:nowrap">1(f).</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:804.27px;left:0px;white-space:nowrap">b </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:63.81px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:676.39px;white-space:nowrap">denominated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:1471.55px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:1602.95px;white-space:nowrap">Argentine </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:2201.08px;white-space:nowrap">Peso </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:2536.62px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:2857.64px;white-space:nowrap">been </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:3186px;white-space:nowrap">designated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:3864.51px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:4039.59px;white-space:nowrap">Level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:4389.75px;white-space:nowrap">3 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:4499.2px;letter-spacing:0px;white-space:nowrap">investments. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:5272.33px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:5542.25px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:5855.84px;letter-spacing:-1.6px;white-space:nowrap">11 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:6028.65px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:6619.44px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:6838.19px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:800.05px;left:7188.34px;white-space:nowrap">measurements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:1000.75px;left:0px;white-space:nowrap">c </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:58.21px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:320.79px;white-space:nowrap">coupon </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:787.74px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:1050.32px;white-space:nowrap">shown </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:1466.02px;white-space:nowrap">represents </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:2122.43px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:2341.33px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:2603.91px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:2749.85px;white-space:nowrap">period </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:996.53px;left:3151.02px;white-space:nowrap">end.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:1197.24px;left:0px;white-space:nowrap">d </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:63.81px;white-space:nowrap">Security </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:574.28px;white-space:nowrap">was </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:844.05px;white-space:nowrap">purchased </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:1493.26px;white-space:nowrap">pursuant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:2040.37px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:2186.31px;white-space:nowrap">Rule </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:2492.56px;letter-spacing:-1.44px;white-space:nowrap">144A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:2828.26px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:2981.39px;white-space:nowrap">Regulation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:3645.14px;white-space:nowrap">S </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:3769.12px;white-space:nowrap">under </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:4141.15px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:4360.06px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:4965.45px;letter-spacing:0px;white-space:nowrap">Act </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:5191.55px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:5337.48px;white-space:nowrap">1933. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:5702.33px;letter-spacing:-1.44px;white-space:nowrap">144A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:6038.03px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:6628.73px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:6913.11px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:7095.53px;white-space:nowrap">sold </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:7372.72px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:7511.31px;white-space:nowrap">transactions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:8255.3px;white-space:nowrap">exempt </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:8722.09px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:9021px;white-space:nowrap">registration </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1193.02px;left:9706.55px;white-space:nowrap">only </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:145.94px;text-rendering:optimizeLegibility;white-space:nowrap">qualified </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:671.17px;white-space:nowrap">institutional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:1364.14px;white-space:nowrap">buyers </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:1794.45px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:1947.58px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:2086.17px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:2195.63px;white-space:nowrap">public </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:2574.92px;letter-spacing:-0.25px;white-space:nowrap">offering </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:3046.8px;white-space:nowrap">registered </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:3666.72px;white-space:nowrap">under </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:4038.75px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:4257.66px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:4863.05px;white-space:nowrap">Act </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:5089.14px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:5235.08px;white-space:nowrap">1933. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:5599.92px;white-space:nowrap">Regulation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:6263.67px;white-space:nowrap">S </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:6387.66px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:6978.36px;white-space:nowrap">cannot </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:7408.83px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:7591.25px;white-space:nowrap">sold </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:7868.44px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:8007.03px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:8225.94px;white-space:nowrap">United </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:8641.64px;white-space:nowrap">States </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:9050.16px;white-space:nowrap">without </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1385.02px;left:9502.34px;white-space:nowrap">either </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:0px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:182.42px;letter-spacing:-0.23px;white-space:nowrap">effective </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:705.39px;white-space:nowrap">registration </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:1390.94px;white-space:nowrap">statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:2003.67px;text-rendering:optimizeLegibility;white-space:nowrap">filed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:2280.86px;white-space:nowrap">pursuant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:2827.97px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:2973.91px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:3192.81px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:3798.2px;white-space:nowrap">Act </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:4024.3px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:4170.23px;white-space:nowrap">1933, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:4535.08px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:4688.2px;white-space:nowrap">pursuant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:5235.31px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:5381.25px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:5563.67px;white-space:nowrap">exemption </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:6205.55px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:6504.45px;white-space:nowrap">registration. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:7219.3px;white-space:nowrap">At </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:7379.77px;white-space:nowrap">December </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:8021.41px;white-space:nowrap">31, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:8240.31px;white-space:nowrap">2020, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:8605.16px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:8824.06px;white-space:nowrap">aggregate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:9451.48px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1577.02px;left:9801.64px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:0px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:357.5px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:948.2px;white-space:nowrap">was </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:1217.97px;white-space:nowrap">$36,461,900, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:2020.63px;white-space:nowrap">representing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:2786.48px;white-space:nowrap">4.5% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:3122.03px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:3267.97px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1769.02px;left:3486.88px;white-space:nowrap">assets.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:1969.72px;left:0px;white-space:nowrap">e </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:59.62px;letter-spacing:-3.59px;white-space:nowrap">A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:176.42px;white-space:nowrap">supranational </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:1000.71px;white-space:nowrap">organization </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:1752.04px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:1883.29px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:2065.71px;white-space:nowrap">entity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:2415.87px;white-space:nowrap">formed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:2860.71px;white-space:nowrap">by </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:3035.79px;white-space:nowrap">two </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:3276.42px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:3429.54px;white-space:nowrap">more </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:3764.93px;white-space:nowrap">central </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:4195.25px;white-space:nowrap">governments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:4990.25px;letter-spacing:0px;white-space:nowrap">through </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:5471.73px;white-space:nowrap">international </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1965.5px;left:6223.06px;white-space:nowrap">treaties.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:2166.2px;left:0px;white-space:nowrap">f </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:41.22px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:303.8px;white-space:nowrap">security </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:792.39px;white-space:nowrap">was </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:1062.16px;white-space:nowrap">issued </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:1477.94px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:1660.36px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:1769.81px;white-space:nowrap">discount </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:2295.05px;white-space:nowrap">basis </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:2637.86px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:2907.63px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:3090.05px;white-space:nowrap">stated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:3484.03px;white-space:nowrap">coupon </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2161.98px;left:3950.99px;white-space:nowrap">rate.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:2362.69px;left:0px;white-space:nowrap">g </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:63.81px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:333.73px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:647.33px;white-space:nowrap">3(c) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:909.75px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:1500.53px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:2237.17px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:2375.76px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:2901px;white-space:nowrap">management </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:3703.34px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2358.47px;left:4374.36px;white-space:nowrap">companies.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:2559.17px;left:0px;white-space:nowrap">h </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:62.49px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:325.07px;white-space:nowrap">rate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:587.65px;white-space:nowrap">shown </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:1003.35px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:1134.6px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:1353.51px;white-space:nowrap">annualized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:2024.68px;white-space:nowrap">seven-day </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:2666.55px;letter-spacing:-0.23px;white-space:nowrap">effective </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:3189.52px;white-space:nowrap">yield </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:3495.85px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:3641.79px;white-space:nowrap">period </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2554.95px;left:4042.96px;white-space:nowrap">end.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:2755.66px;left:0px;white-space:nowrap">i </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2751.44px;left:38.26px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2751.44px;left:308.18px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2751.44px;left:621.77px;white-space:nowrap">1(c) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2751.44px;left:884.2px;white-space:nowrap">regarding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2751.44px;left:1474.98px;white-space:nowrap">written </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:2751.44px;left:1897.87px;white-space:nowrap">options.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4043.6px;left:0px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4043.6px;left:844.53px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4043.6px;left:1844.92px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4675.41px;left:0px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4483.41px;left:1781.44px;white-space:nowrap">Counter-</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4675.41px;left:2004.87px;white-space:nowrap">party</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:4678.62px;left:2396.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4675.41px;left:2662.44px;letter-spacing:-2.97px;white-space:nowrap">Type</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4675.41px;left:4103.09px;white-space:nowrap">Quantity</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4483.41px;left:5390.19px;white-space:nowrap">Contract</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4675.41px;left:5381.44px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4675.41px;left:5985.73px;white-space:nowrap">*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4483.41px;left:6598.03px;white-space:nowrap">Settlement</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4675.41px;left:7069.2px;white-space:nowrap">Date</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4483.41px;left:7902.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4675.41px;left:7734.11px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4483.41px;left:9198.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4675.41px;left:9038.86px;white-space:nowrap">Depreciation</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:4920.5px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:4920.5px;left:2436.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:4920.5px;left:3012.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:4920.5px;left:4740.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:4920.5px;left:6036.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:4920.5px;left:7404.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:4920.5px;left:8772.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:4920.5px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4998.45px;left:0px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4998.45px;left:382.19px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4998.45px;left:1057.81px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4998.45px;left:1858.13px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5194.93px;left:0px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5194.93px;left:658.05px;white-space:nowrap">Real</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5194.93px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5194.93px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5194.93px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5194.93px;left:3951.22px;white-space:nowrap">49,730,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5194.93px;left:5336.2px;white-space:nowrap">9,873,040</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5194.93px;left:6882.17px;white-space:nowrap">1/04/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5194.93px;left:8535.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5194.93px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5194.93px;left:9306.09px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5194.93px;left:9395.08px;white-space:nowrap">(298,434)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5391.42px;left:0px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5391.42px;left:658.05px;white-space:nowrap">Real</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5391.42px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5391.42px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5391.42px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5391.42px;left:3951.22px;white-space:nowrap">49,730,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5391.42px;left:5336.2px;white-space:nowrap">8,583,399</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5391.42px;left:6882.17px;white-space:nowrap">1/04/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5391.42px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5391.42px;left:9395.08px;white-space:nowrap">(991,206)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5587.9px;left:0px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5587.9px;left:658.05px;white-space:nowrap">Real</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5587.9px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5587.9px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5587.9px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5587.9px;left:3951.22px;white-space:nowrap">13,446,886</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5587.9px;left:5336.2px;white-space:nowrap">2,642,863</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5587.9px;left:6882.17px;white-space:nowrap">1/05/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5587.9px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5587.9px;left:9484.06px;white-space:nowrap">(53,936)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5784.39px;left:0px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5784.39px;left:658.05px;white-space:nowrap">Real</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5784.39px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5784.39px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5784.39px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5784.39px;left:3951.22px;white-space:nowrap">13,446,886</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5784.39px;left:5336.2px;white-space:nowrap">2,322,032</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5784.39px;left:6882.17px;white-space:nowrap">1/05/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5784.39px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5784.39px;left:9395.08px;white-space:nowrap">(266,895)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5980.87px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5980.87px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5980.87px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5980.87px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5980.87px;left:4040.2px;white-space:nowrap">2,623,658</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5980.87px;left:5348.08px;letter-spacing:-1.32px;white-space:nowrap">2,811,066</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5980.87px;left:6099.59px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5980.87px;left:6894.05px;letter-spacing:-1.7px;white-space:nowrap">1/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5980.87px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5980.87px;left:9484.06px;white-space:nowrap">(29,928)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6177.36px;left:0px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6177.36px;left:462.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6177.36px;left:934.13px;letter-spacing:51.68px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6177.36px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6177.36px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6177.36px;left:4052.08px;letter-spacing:-1.32px;white-space:nowrap">2,811,066</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6177.36px;left:5336.2px;white-space:nowrap">2,608,067</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6177.36px;left:6095.09px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6177.36px;left:6894.05px;letter-spacing:-1.7px;white-space:nowrap">1/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6177.36px;left:8294.63px;white-space:nowrap">10,878</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6177.36px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6373.84px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6373.84px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6373.84px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6373.84px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6373.84px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6373.84px;left:4040.2px;white-space:nowrap">2,520,801</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6373.84px;left:5158.23px;white-space:nowrap">192,231,206</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6373.84px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6373.84px;left:6882.17px;white-space:nowrap">1/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6373.84px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6373.84px;left:9484.06px;white-space:nowrap">(81,789)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6570.33px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6570.33px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6570.33px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6570.33px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6570.33px;left:4040.2px;white-space:nowrap">1,630,367</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6570.33px;left:5336.2px;white-space:nowrap">1,756,892</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6570.33px;left:6099.59px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6570.33px;left:6882.17px;white-space:nowrap">1/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6570.33px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6570.33px;left:9573.05px;white-space:nowrap">(7,197)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6766.81px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6766.81px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6766.81px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6766.81px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6766.81px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6766.81px;left:3862.23px;white-space:nowrap">198,018,535</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6766.81px;left:5336.2px;white-space:nowrap">2,520,801</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6766.81px;left:6095.09px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6766.81px;left:6882.17px;white-space:nowrap">1/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6766.81px;left:8294.63px;white-space:nowrap">25,734</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6766.81px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6963.29px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6963.29px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6963.29px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6963.29px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6963.29px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6963.29px;left:3862.23px;white-space:nowrap">124,480,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6963.29px;left:5336.2px;white-space:nowrap">6,228,578</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6963.29px;left:6882.17px;white-space:nowrap">1/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6963.29px;left:8294.63px;white-space:nowrap">25,700</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6963.29px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7159.78px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7159.78px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7159.78px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7159.78px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7159.78px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7159.78px;left:3862.23px;white-space:nowrap">124,480,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7159.78px;left:5336.2px;white-space:nowrap">5,759,497</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7159.78px;left:6882.17px;white-space:nowrap">1/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7159.78px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7159.78px;left:9395.08px;white-space:nowrap">(494,782)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7356.26px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7356.26px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7356.26px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7356.26px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7356.26px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7356.26px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7356.26px;left:3728.8px;white-space:nowrap">5,874,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7356.26px;left:5336.2px;white-space:nowrap">5,429,588</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7356.26px;left:6882.17px;white-space:nowrap">1/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7356.26px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7356.26px;left:9484.06px;white-space:nowrap">(30,372)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7552.75px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7552.75px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7552.75px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7552.75px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7552.75px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7552.75px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7552.75px;left:3728.8px;white-space:nowrap">5,874,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7552.75px;left:5336.2px;white-space:nowrap">4,899,491</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7552.75px;left:6882.17px;white-space:nowrap">1/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7552.75px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7552.75px;left:9395.08px;white-space:nowrap">(499,725)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7749.23px;left:0px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7749.23px;left:462.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7749.23px;left:934.13px;letter-spacing:51.68px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7749.23px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7749.23px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7749.23px;left:4040.2px;white-space:nowrap">1,756,892</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7749.23px;left:5336.2px;white-space:nowrap">1,630,095</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7749.23px;left:6095.09px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7749.23px;left:6882.17px;white-space:nowrap">1/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7749.23px;left:8383.61px;white-space:nowrap">6,864</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7749.23px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7945.72px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7945.72px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7945.72px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7945.72px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7945.72px;left:4052.08px;letter-spacing:-1.32px;white-space:nowrap">2,569,113</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7945.72px;left:5336.2px;white-space:nowrap">2,758,791</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7945.72px;left:6099.59px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7945.72px;left:6882.17px;white-space:nowrap">1/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7945.72px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7945.72px;left:9484.06px;white-space:nowrap">(22,278)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8142.2px;left:0px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8142.2px;left:462.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8142.2px;left:934.13px;letter-spacing:51.68px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8142.2px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8142.2px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8142.2px;left:4040.2px;white-space:nowrap">2,758,791</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8142.2px;left:5348.08px;letter-spacing:-1.32px;white-space:nowrap">2,558,511</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8142.2px;left:6095.09px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8142.2px;left:6882.17px;white-space:nowrap">1/14/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8142.2px;left:8383.61px;white-space:nowrap">9,322</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8142.2px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8338.68px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8338.68px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8338.68px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8338.68px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8338.68px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8338.68px;left:3862.23px;white-space:nowrap">183,230,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8338.68px;left:5336.2px;white-space:nowrap">9,166,358</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8338.68px;left:6882.17px;white-space:nowrap">1/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8338.68px;left:8294.63px;white-space:nowrap">37,491</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8338.68px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8535.17px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8535.17px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8535.17px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8535.17px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8535.17px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8535.17px;left:3862.23px;white-space:nowrap">183,230,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8535.17px;left:5336.2px;white-space:nowrap">8,462,498</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8535.17px;left:6882.17px;white-space:nowrap">1/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8535.17px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8535.17px;left:9395.08px;white-space:nowrap">(741,351)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8731.65px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8731.65px;left:628.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8731.65px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8731.65px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8731.65px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8731.65px;left:3951.22px;white-space:nowrap">44,380,340</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8731.65px;left:5336.2px;white-space:nowrap">6,789,899</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8731.65px;left:6882.17px;white-space:nowrap">1/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8731.65px;left:8294.63px;white-space:nowrap">28,422</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8731.65px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8928.14px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8928.14px;left:628.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8928.14px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8928.14px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8928.14px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8928.14px;left:3951.22px;white-space:nowrap">48,053,530</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8928.14px;left:5336.2px;white-space:nowrap">7,350,219</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8928.14px;left:6882.17px;white-space:nowrap">1/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8928.14px;left:8294.63px;white-space:nowrap">32,428</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8928.14px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9124.62px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9124.62px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9124.62px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9124.62px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9124.62px;left:4040.2px;white-space:nowrap">1,219,782</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9124.62px;left:5247.22px;white-space:nowrap">12,643,100</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9124.62px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9124.62px;left:6882.17px;white-space:nowrap">1/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9124.62px;left:8294.63px;white-space:nowrap">46,438</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9124.62px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9321.11px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9321.11px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9321.11px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9321.11px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9321.11px;left:4040.2px;white-space:nowrap">5,917,261</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9321.11px;left:5247.22px;white-space:nowrap">64,197,700</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9321.11px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9321.11px;left:6882.17px;white-space:nowrap">1/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9321.11px;left:8205.64px;white-space:nowrap">256,217</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9321.11px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9517.59px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9517.59px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9517.59px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9517.59px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9517.59px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9517.59px;left:3951.22px;white-space:nowrap">27,250,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9517.59px;left:5336.2px;white-space:nowrap">1,372,063</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9517.59px;left:6882.17px;white-space:nowrap">1/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9517.59px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9517.59px;left:9573.05px;white-space:nowrap">(3,925)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9714.08px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9714.08px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9714.08px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9714.08px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9714.08px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9714.08px;left:3951.22px;white-space:nowrap">96,553,100</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9714.08px;left:5336.2px;white-space:nowrap">4,355,982</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9714.08px;left:6882.17px;white-space:nowrap">1/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9714.08px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9714.08px;left:9395.08px;white-space:nowrap">(491,650)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9910.56px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9910.56px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9910.56px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9910.56px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9910.56px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9910.56px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9910.56px;left:3862.23px;white-space:nowrap">616,384,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9910.56px;left:5469.64px;white-space:nowrap">558,258</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9910.56px;left:6882.17px;white-space:nowrap">1/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9910.56px;left:8383.61px;white-space:nowrap">8,308</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9910.56px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10107.04px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10107.04px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10107.04px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10107.04px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10107.04px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10107.04px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10107.04px;left:3862.23px;white-space:nowrap">616,384,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10107.04px;left:5469.64px;white-space:nowrap">514,082</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10107.04px;left:6882.17px;white-space:nowrap">1/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10107.04px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10107.04px;left:9484.06px;white-space:nowrap">(52,485)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.53px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.53px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.53px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.53px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.53px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.53px;left:3951.22px;white-space:nowrap">96,656,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.53px;left:5336.2px;white-space:nowrap">4,550,338</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.53px;left:6882.17px;white-space:nowrap">1/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.53px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.53px;left:9395.08px;white-space:nowrap">(301,289)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10500.01px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10500.01px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10500.01px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10500.01px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10500.01px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10500.01px;left:3951.22px;white-space:nowrap">72,049,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10500.01px;left:5336.2px;white-space:nowrap">3,388,835</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10500.01px;left:6882.17px;white-space:nowrap">1/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10500.01px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10500.01px;left:9395.08px;white-space:nowrap">(227,213)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10696.5px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10696.5px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10696.5px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10696.5px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10696.5px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10696.5px;left:3951.22px;white-space:nowrap">18,641,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10696.5px;left:5469.64px;white-space:nowrap">841,884</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10696.5px;left:6882.17px;white-space:nowrap">1/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10696.5px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10696.5px;left:9484.06px;white-space:nowrap">(93,684)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10892.98px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10892.98px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10892.98px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10892.98px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10892.98px;left:4040.2px;white-space:nowrap">7,080,070</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10892.98px;left:5158.23px;white-space:nowrap">872,554,878</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10892.98px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10892.98px;left:6882.17px;white-space:nowrap">1/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10892.98px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10892.98px;left:9395.08px;white-space:nowrap">(201,396)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11089.47px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11089.47px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11089.47px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11089.47px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11089.47px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11089.47px;left:3951.22px;white-space:nowrap">21,051,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11089.47px;left:5469.64px;white-space:nowrap">990,169</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11089.47px;left:6882.17px;white-space:nowrap">1/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11089.47px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11089.47px;left:9484.06px;white-space:nowrap">(65,971)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11285.95px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11285.95px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11285.95px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11285.95px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11285.95px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11285.95px;left:4040.2px;white-space:nowrap">1,369,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11285.95px;left:5158.23px;white-space:nowrap">104,352,025</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11285.95px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11285.95px;left:6882.17px;white-space:nowrap">1/27/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11285.95px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11285.95px;left:9484.06px;white-space:nowrap">(44,942)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11482.43px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11482.43px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11482.43px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11482.43px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11482.43px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11482.43px;left:4040.2px;white-space:nowrap">1,574,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11482.43px;left:5336.2px;white-space:nowrap">1,172,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11482.43px;left:6882.17px;white-space:nowrap">1/27/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11482.43px;left:8294.63px;white-space:nowrap">41,754</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11482.43px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11678.92px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11678.92px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11678.92px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11678.92px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11678.92px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11678.92px;left:4040.2px;white-space:nowrap">1,574,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11678.92px;left:5348.08px;letter-spacing:-1.32px;white-space:nowrap">1,115,609</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11678.92px;left:6882.17px;white-space:nowrap">1/27/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11678.92px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11678.92px;left:9484.06px;white-space:nowrap">(98,346)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11875.4px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11875.4px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11875.4px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11875.4px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11875.4px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11875.4px;left:3862.23px;white-space:nowrap">107,528,105</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11875.4px;left:5336.2px;white-space:nowrap">1,369,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11875.4px;left:6095.09px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11875.4px;left:6882.17px;white-space:nowrap">1/27/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11875.4px;left:8294.63px;white-space:nowrap">14,174</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11875.4px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12071.89px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12071.89px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12071.89px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12071.89px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12071.89px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12071.89px;left:3951.22px;white-space:nowrap">80,594,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12071.89px;left:5336.2px;white-space:nowrap">3,819,494</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12071.89px;left:6882.17px;white-space:nowrap">1/27/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12071.89px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12071.89px;left:9395.08px;white-space:nowrap">(222,976)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3857.28px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4119.86px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5002.43px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5359.93px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5586.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5768.45px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6235.25px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6497.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6643.76px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7001.26px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7519.15px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8353.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">21</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,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			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:0px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:844.53px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:1844.92px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:82.14px;left:2833.98px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:0px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:1781.44px;white-space:nowrap">Counter-</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:2004.87px;white-space:nowrap">party</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:537.83px;left:2396.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:2662.44px;letter-spacing:-2.97px;white-space:nowrap">Type</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:4103.09px;white-space:nowrap">Quantity</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:5390.19px;white-space:nowrap">Contract</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:5381.44px;white-space:nowrap">Amount*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:6598.03px;white-space:nowrap">Settlement</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:7069.2px;white-space:nowrap">Date</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:7902.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:7734.11px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:9198.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:9038.86px;white-space:nowrap">Depreciation</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:2436.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:3012.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:4740.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:6036.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:7404.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:8772.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:0px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:382.19px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:1057.81px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:1858.13px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:857.67px;left:2649.38px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:3639.81px;white-space:nowrap">12,970,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:5259.09px;letter-spacing:-1.19px;white-space:nowrap">11,764,813</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:6882.17px;white-space:nowrap">1/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:8116.66px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:8205.64px;white-space:nowrap">157,056</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:9831.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:3639.81px;white-space:nowrap">12,970,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:5259.09px;letter-spacing:-1.19px;white-space:nowrap">11,437,894</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:6882.17px;white-space:nowrap">1/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:9395.08px;white-space:nowrap">(483,974)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:0px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:658.05px;white-space:nowrap">Real</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:3951.22px;white-space:nowrap">53,921,812</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:5336.2px;white-space:nowrap">9,988,480</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:6882.17px;white-space:nowrap">2/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:9395.08px;white-space:nowrap">(391,399)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:0px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:658.05px;white-space:nowrap">Real</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:3951.22px;white-space:nowrap">36,524,724</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:5336.2px;white-space:nowrap">6,916,535</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:6882.17px;white-space:nowrap">2/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:8294.63px;white-space:nowrap">52,849</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:9395.08px;white-space:nowrap">(167,276)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:3728.8px;white-space:nowrap">5,870,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:5336.2px;white-space:nowrap">5,422,040</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:6882.17px;white-space:nowrap">2/04/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:9484.06px;white-space:nowrap">(26,372)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:3728.8px;white-space:nowrap">5,870,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:5336.2px;white-space:nowrap">4,901,060</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:6882.17px;white-space:nowrap">2/04/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:9395.08px;white-space:nowrap">(494,607)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:3862.23px;white-space:nowrap">192,009,900</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:5336.2px;white-space:nowrap">2,589,654</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:6882.17px;white-space:nowrap">2/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:8294.63px;white-space:nowrap">30,285</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:3862.23px;white-space:nowrap">263,438,700</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:5336.2px;white-space:nowrap">3,552,934</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:6882.17px;white-space:nowrap">2/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:8294.63px;white-space:nowrap">41,638</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:4040.2px;white-space:nowrap">2,624,235</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:5348.08px;letter-spacing:-1.32px;white-space:nowrap">2,811,094</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:6099.59px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:6882.17px;white-space:nowrap">2/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:9484.06px;white-space:nowrap">(29,999)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:3951.22px;white-space:nowrap">96,812,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:5336.2px;white-space:nowrap">1,305,305</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:6882.17px;white-space:nowrap">2/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:8294.63px;white-space:nowrap">15,549</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:0px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:462.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:934.13px;letter-spacing:51.68px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:4052.08px;letter-spacing:-1.32px;white-space:nowrap">2,811,094</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:5336.2px;white-space:nowrap">2,608,407</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:6095.09px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:6882.17px;white-space:nowrap">2/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:8294.63px;white-space:nowrap">10,646</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:4040.2px;white-space:nowrap">5,160,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:5336.2px;white-space:nowrap">3,658,333</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:6882.17px;white-space:nowrap">2/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:8205.64px;white-space:nowrap">322,049</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:4040.2px;white-space:nowrap">5,160,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:5348.08px;letter-spacing:-1.32px;white-space:nowrap">3,711,201</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:6882.17px;white-space:nowrap">2/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:9395.08px;white-space:nowrap">(269,182)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:4040.2px;white-space:nowrap">6,538,563</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:5348.08px;letter-spacing:-1.32px;white-space:nowrap">7,027,811</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:6099.59px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:6882.17px;white-space:nowrap">2/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:9484.06px;white-space:nowrap">(47,930)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:3728.8px;white-space:nowrap">7,321,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:5336.2px;white-space:nowrap">6,674,386</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:6882.17px;white-space:nowrap">2/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:8294.63px;white-space:nowrap">55,004</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:3728.8px;white-space:nowrap">7,321,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:5336.2px;white-space:nowrap">6,482,892</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:6882.17px;white-space:nowrap">2/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:9395.08px;white-space:nowrap">(246,498)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:0px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:462.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:934.13px;letter-spacing:51.68px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:4052.08px;letter-spacing:-1.32px;white-space:nowrap">7,027,811</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:5336.2px;white-space:nowrap">6,522,888</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:6095.09px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:6882.17px;white-space:nowrap">2/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:8294.63px;white-space:nowrap">28,762</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:4040.2px;white-space:nowrap">2,264,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:5336.2px;white-space:nowrap">1,686,243</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:6882.17px;white-space:nowrap">2/12/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:8294.63px;white-space:nowrap">60,209</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:4040.2px;white-space:nowrap">2,264,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:5348.08px;letter-spacing:-1.32px;white-space:nowrap">1,644,117</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:6882.17px;white-space:nowrap">2/12/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:9395.08px;white-space:nowrap">(102,335)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:4040.2px;white-space:nowrap">3,415,999</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:5336.2px;white-space:nowrap">3,678,416</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:6099.59px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:6882.17px;white-space:nowrap">2/12/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:9484.06px;white-space:nowrap">(17,280)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:0px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:462.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:934.13px;letter-spacing:51.68px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:4040.2px;white-space:nowrap">3,678,416</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:5336.2px;white-space:nowrap">3,409,951</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:6095.09px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:6882.17px;white-space:nowrap">2/12/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:8383.61px;white-space:nowrap">9,884</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:4040.2px;white-space:nowrap">3,308,656</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:5247.22px;white-space:nowrap">33,714,881</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:6882.17px;white-space:nowrap">2/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:8294.63px;white-space:nowrap">54,222</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:3951.22px;white-space:nowrap">73,474,600</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:5336.2px;white-space:nowrap">3,310,934</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:6882.17px;white-space:nowrap">2/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:9395.08px;white-space:nowrap">(366,059)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:628.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:3951.22px;white-space:nowrap">33,387,210</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:5336.2px;white-space:nowrap">5,097,377</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:6882.17px;white-space:nowrap">2/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:8294.63px;white-space:nowrap">21,892</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:0px;white-space:nowrap">Swedish </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:649.22px;white-space:nowrap">Krona</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:1120.96px;letter-spacing:52.76px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:4040.2px;white-space:nowrap">4,832,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:5469.64px;white-space:nowrap">560,667</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:6882.17px;white-space:nowrap">2/19/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:8294.63px;white-space:nowrap">27,018</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:3951.22px;white-space:nowrap">43,590,063</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:5024.8px;white-space:nowrap">3,320,791,272</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:6882.17px;white-space:nowrap">2/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:9261.64px;white-space:nowrap">(1,448,606)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:3728.8px;white-space:nowrap">3,423,861,284</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:5247.22px;white-space:nowrap">43,590,063</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:6095.09px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:6882.17px;white-space:nowrap">2/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:8205.64px;white-space:nowrap">449,849</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:4040.2px;white-space:nowrap">4,263,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:5336.2px;white-space:nowrap">5,230,829</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:6882.17px;white-space:nowrap">2/23/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:9484.06px;white-space:nowrap">(16,818)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:4040.2px;white-space:nowrap">9,643,779</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:5259.09px;letter-spacing:-1.19px;white-space:nowrap">11,438,775</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:6882.17px;white-space:nowrap">2/23/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:9395.08px;white-space:nowrap">(356,385)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:3728.8px;white-space:nowrap">6,847,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:5336.2px;white-space:nowrap">6,201,319</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:6882.17px;white-space:nowrap">2/23/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:8294.63px;white-space:nowrap">92,314</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:3728.8px;white-space:nowrap">6,847,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:5336.2px;white-space:nowrap">6,180,998</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:6882.17px;white-space:nowrap">2/23/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:9406.95px;letter-spacing:-1.32px;white-space:nowrap">(112,635)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:4040.2px;white-space:nowrap">7,079,736</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:5158.23px;white-space:nowrap">888,779,378</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:6882.17px;white-space:nowrap">2/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:9484.06px;white-space:nowrap">(46,777)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:3951.22px;white-space:nowrap">10,967,160</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:5158.23px;white-space:nowrap">831,168,145</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:6882.17px;white-space:nowrap">2/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:9395.08px;white-space:nowrap">(406,394)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:3951.22px;white-space:nowrap">28,882,437</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:5036.67px;letter-spacing:-0.91px;white-space:nowrap">2,189,116,977</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:6882.17px;white-space:nowrap">2/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:9261.64px;white-space:nowrap">(1,068,279)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:3951.22px;white-space:nowrap">14,160,047</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:5024.8px;white-space:nowrap">1,755,764,377</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:6882.17px;white-space:nowrap">2/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:9395.08px;white-space:nowrap">(305,644)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:3862.23px;white-space:nowrap">861,323,447</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:5247.22px;white-space:nowrap">10,967,160</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:6095.09px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:6882.17px;white-space:nowrap">2/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:8217.52px;letter-spacing:-1.7px;white-space:nowrap">114,178</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:3728.8px;white-space:nowrap">1,656,447,194</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:5247.22px;white-space:nowrap">21,090,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:6095.09px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:6882.17px;white-space:nowrap">2/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:8205.64px;white-space:nowrap">218,496</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:3951.22px;white-space:nowrap">10,996,440</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:5158.23px;white-space:nowrap">833,286,040</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:6882.17px;white-space:nowrap">2/26/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:9395.08px;white-space:nowrap">(408,432)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:3951.22px;white-space:nowrap">10,419,370</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:5024.8px;white-space:nowrap">1,310,567,064</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:6882.17px;white-space:nowrap">2/26/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:9484.06px;white-space:nowrap">(44,557)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:3728.8px;white-space:nowrap">1,478,935,800</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:5247.22px;white-space:nowrap">13,972,276</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:6882.17px;white-space:nowrap">2/26/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:8205.64px;white-space:nowrap">359,294</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:0px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:658.05px;white-space:nowrap">Real</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:3951.22px;white-space:nowrap">49,730,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:5336.2px;white-space:nowrap">9,857,579</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:6882.17px;white-space:nowrap">3/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:8205.64px;white-space:nowrap">302,958</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:3862.23px;white-space:nowrap">173,088,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:5336.2px;white-space:nowrap">7,745,746</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:6882.17px;white-space:nowrap">3/02/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:9395.08px;white-space:nowrap">(903,100)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:4040.2px;white-space:nowrap">4,550,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:5336.2px;white-space:nowrap">5,514,827</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:6882.17px;white-space:nowrap">3/04/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:9484.06px;white-space:nowrap">(51,233)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:4040.2px;white-space:nowrap">2,300,270</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:5348.08px;letter-spacing:-1.32px;white-space:nowrap">2,739,116</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:6882.17px;white-space:nowrap">3/04/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:9484.06px;white-space:nowrap">(74,828)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:2006.36px;letter-spacing:-0.72px;white-space:nowrap">SCNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:4040.2px;white-space:nowrap">1,325,806</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:5336.2px;white-space:nowrap">1,615,812</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:6882.17px;white-space:nowrap">3/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:9573.05px;white-space:nowrap">(6,202)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:3862.23px;white-space:nowrap">256,676,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:5336.2px;white-space:nowrap">3,452,873</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:6882.17px;white-space:nowrap">3/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:8294.63px;white-space:nowrap">39,323</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:3862.23px;white-space:nowrap">264,184,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:5336.2px;white-space:nowrap">3,552,930</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:6882.17px;white-space:nowrap">3/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:8294.63px;white-space:nowrap">41,420</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:3862.23px;white-space:nowrap">135,496,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:5336.2px;white-space:nowrap">6,195,661</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:6882.17px;white-space:nowrap">3/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:9395.08px;white-space:nowrap">(570,238)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:3951.22px;white-space:nowrap">97,083,330</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:5336.2px;white-space:nowrap">1,305,305</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:6882.17px;white-space:nowrap">3/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:8294.63px;white-space:nowrap">15,406</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:3862.23px;white-space:nowrap">106,826,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:5336.2px;white-space:nowrap">1,436,898</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:6882.17px;white-space:nowrap">3/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:8294.63px;white-space:nowrap">16,353</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:4040.2px;white-space:nowrap">5,777,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:5158.23px;white-space:nowrap">441,909,881</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:6882.17px;white-space:nowrap">3/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:9395.08px;white-space:nowrap">(174,204)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:4040.2px;white-space:nowrap">3,257,394</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:5336.2px;white-space:nowrap">3,513,784</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:6099.59px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:6882.17px;white-space:nowrap">3/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:9573.05px;white-space:nowrap">(8,839)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:0px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:462.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:934.13px;letter-spacing:51.68px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:4040.2px;white-space:nowrap">3,513,783</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:5336.2px;white-space:nowrap">3,251,471</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:6095.09px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:6882.17px;white-space:nowrap">3/10/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:8383.61px;white-space:nowrap">1,592</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:4052.08px;letter-spacing:-1.32px;white-space:nowrap">3,750,011</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:5158.23px;white-space:nowrap">288,859,597</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:6894.05px;letter-spacing:-1.7px;white-space:nowrap">3/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:9484.06px;white-space:nowrap">(93,643)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:4040.2px;white-space:nowrap">4,273,980</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:5336.2px;white-space:nowrap">4,597,990</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:6099.59px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:6894.05px;letter-spacing:-1.7px;white-space:nowrap">3/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:9484.06px;white-space:nowrap">(25,588)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:3862.23px;white-space:nowrap">166,125,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:5336.2px;white-space:nowrap">7,376,842</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:6894.05px;letter-spacing:-1.7px;white-space:nowrap">3/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:9395.08px;white-space:nowrap">(915,567)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:0px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:462.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:934.13px;letter-spacing:51.68px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:4040.2px;white-space:nowrap">4,597,990</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:5336.2px;white-space:nowrap">4,263,280</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:6095.09px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:6894.05px;letter-spacing:-1.7px;white-space:nowrap">3/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:8294.63px;white-space:nowrap">12,497</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:9920px;white-space:nowrap">&#8212;</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,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			<div style="width:10080px;height:12258px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">
























































































































































































































































































































































































































































































































			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:0px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:844.53px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:1844.92px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:82.14px;left:2833.98px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:0px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:1781.44px;white-space:nowrap">Counter-</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:2004.87px;white-space:nowrap">party</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:537.83px;left:2396.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:2662.44px;letter-spacing:-2.97px;white-space:nowrap">Type</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:4103.09px;white-space:nowrap">Quantity</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:5390.19px;white-space:nowrap">Contract</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:5381.44px;white-space:nowrap">Amount*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:6598.03px;white-space:nowrap">Settlement</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:7069.2px;white-space:nowrap">Date</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:7902.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:7734.11px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:9198.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:9038.86px;white-space:nowrap">Depreciation</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:2436.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:3012.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:4740.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:6036.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:7404.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:8772.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:0px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:382.19px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:1057.81px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:1858.13px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:857.67px;left:2649.38px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:628.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:3951.22px;white-space:nowrap">66,870,800</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:5247.22px;white-space:nowrap">10,193,529</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:6882.17px;white-space:nowrap">3/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:8217.52px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:8306.5px;letter-spacing:-1.98px;white-space:nowrap">42,611</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:9831.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:4040.2px;white-space:nowrap">4,081,658</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:5247.22px;white-space:nowrap">42,143,600</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:6882.17px;white-space:nowrap">3/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:8205.64px;white-space:nowrap">132,480</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:4040.2px;white-space:nowrap">3,415,722</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:5336.2px;white-space:nowrap">3,678,391</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:6099.59px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:6882.17px;white-space:nowrap">3/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:9484.06px;white-space:nowrap">(16,120)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:0px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:462.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:934.13px;letter-spacing:51.68px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:4040.2px;white-space:nowrap">3,678,391</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:5336.2px;white-space:nowrap">3,395,103</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:6095.09px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:6882.17px;white-space:nowrap">3/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:9573.05px;white-space:nowrap">(9,109)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:3951.22px;white-space:nowrap">26,220,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:5024.8px;white-space:nowrap">2,015,400,300</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:6882.17px;white-space:nowrap">3/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:9395.08px;white-space:nowrap">(695,774)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:628.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:3963.09px;letter-spacing:-1.19px;white-space:nowrap">24,113,870</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:5348.08px;letter-spacing:-1.32px;white-space:nowrap">3,675,110</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:6882.17px;white-space:nowrap">3/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:8294.63px;white-space:nowrap">15,820</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:4040.2px;white-space:nowrap">6,044,583</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:5247.22px;white-space:nowrap">64,197,700</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:6882.17px;white-space:nowrap">3/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:8294.63px;white-space:nowrap">90,188</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:3862.23px;white-space:nowrap">167,775,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:5336.2px;white-space:nowrap">7,720,253</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:6882.17px;white-space:nowrap">3/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:9395.08px;white-space:nowrap">(649,590)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:4040.2px;white-space:nowrap">2,520,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:5158.23px;white-space:nowrap">193,513,320</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:6882.17px;white-space:nowrap">3/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:9484.06px;white-space:nowrap">(68,666)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:3862.23px;white-space:nowrap">199,044,400</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:5336.2px;white-space:nowrap">9,469,063</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:6882.17px;white-space:nowrap">3/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:9395.08px;white-space:nowrap">(459,558)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:4040.2px;white-space:nowrap">4,366,901</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:5247.22px;white-space:nowrap">46,035,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:6882.17px;white-space:nowrap">3/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:8294.63px;white-space:nowrap">24,040</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:3728.8px;white-space:nowrap">2,579,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:5336.2px;white-space:nowrap">2,350,293</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:6882.17px;white-space:nowrap">3/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:8294.63px;white-space:nowrap">19,947</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:3728.8px;white-space:nowrap">2,579,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:5336.2px;white-space:nowrap">2,184,668</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:6882.17px;white-space:nowrap">3/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:9395.08px;white-space:nowrap">(185,573)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:3862.23px;white-space:nowrap">383,726,540</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:5336.2px;white-space:nowrap">3,675,260</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:6882.17px;white-space:nowrap">3/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:8294.63px;white-space:nowrap">44,439</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:3951.22px;white-space:nowrap">33,304,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:5336.2px;white-space:nowrap">1,501,330</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:6882.17px;white-space:nowrap">3/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:9395.08px;white-space:nowrap">(158,552)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:4040.2px;white-space:nowrap">7,080,147</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:5158.23px;white-space:nowrap">870,886,431</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:6882.17px;white-space:nowrap">3/25/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:9395.08px;white-space:nowrap">(223,313)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:4040.2px;white-space:nowrap">7,087,989</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:5158.23px;white-space:nowrap">893,873,326</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:6882.17px;white-space:nowrap">3/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:9484.06px;white-space:nowrap">(10,422)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:4040.2px;white-space:nowrap">7,087,989</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:5158.23px;white-space:nowrap">873,389,038</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:6882.17px;white-space:nowrap">3/31/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:9395.08px;white-space:nowrap">(209,179)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:4040.2px;white-space:nowrap">8,669,598</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:5247.22px;white-space:nowrap">96,187,025</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:6882.17px;white-space:nowrap">3/31/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:8205.64px;white-space:nowrap">603,949</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4590.87px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:3862.23px;white-space:nowrap">145,844,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:5336.2px;white-space:nowrap">6,465,289</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:6882.17px;white-space:nowrap">4/05/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4787.35px;left:9395.08px;white-space:nowrap">(793,339)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:4040.2px;white-space:nowrap">8,606,069</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:5247.22px;white-space:nowrap">90,410,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:6882.17px;white-space:nowrap">4/06/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:8205.64px;white-space:nowrap">465,434</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4983.84px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:4040.2px;white-space:nowrap">3,749,989</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:5158.23px;white-space:nowrap">283,902,292</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:6882.17px;white-space:nowrap">4/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5180.32px;left:9395.08px;white-space:nowrap">(141,065)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:4040.2px;white-space:nowrap">8,255,994</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:5158.23px;white-space:nowrap">626,379,626</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:6882.17px;white-space:nowrap">4/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5376.81px;left:9395.08px;white-space:nowrap">(297,587)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:4040.2px;white-space:nowrap">2,565,175</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:5336.2px;white-space:nowrap">2,758,808</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:6099.59px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:6882.17px;white-space:nowrap">4/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5573.29px;left:9484.06px;white-space:nowrap">(15,576)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:4173.64px;white-space:nowrap">252,375</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:5469.64px;white-space:nowrap">297,856</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:6882.17px;white-space:nowrap">4/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5769.78px;left:9495.94px;letter-spacing:-1.48px;white-space:nowrap">(11,162)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:4040.2px;white-space:nowrap">1,631,533</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:5336.2px;white-space:nowrap">1,756,892</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:6099.59px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:6882.17px;white-space:nowrap">4/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5966.26px;left:9584.92px;letter-spacing:-1.7px;white-space:nowrap">(7,411)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:3951.22px;white-space:nowrap">68,160,100</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:5336.2px;white-space:nowrap">3,044,071</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:6882.17px;white-space:nowrap">4/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6162.74px;left:9395.08px;white-space:nowrap">(345,053)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:0px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:462.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:934.13px;letter-spacing:51.68px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:1976.83px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:4040.2px;white-space:nowrap">2,758,808</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:5336.2px;white-space:nowrap">2,545,765</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:6095.09px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:6882.17px;white-space:nowrap">4/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6359.23px;left:9573.05px;white-space:nowrap">(8,191)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:0px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:462.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:934.13px;letter-spacing:51.68px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:4040.2px;white-space:nowrap">1,756,892</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:5336.2px;white-space:nowrap">1,624,766</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:6095.09px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:6882.17px;white-space:nowrap">4/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6555.71px;left:9706.48px;white-space:nowrap">(875)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:4040.2px;white-space:nowrap">1,628,409</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:5247.22px;white-space:nowrap">16,857,450</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:6882.17px;white-space:nowrap">4/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:8294.63px;white-space:nowrap">57,458</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6752.2px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:4040.2px;white-space:nowrap">1,218,565</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:5247.22px;white-space:nowrap">12,643,100</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:6882.17px;white-space:nowrap">4/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:8294.63px;white-space:nowrap">46,432</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6948.68px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:4040.2px;white-space:nowrap">1,322,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:5469.64px;white-space:nowrap">992,399</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:6882.17px;white-space:nowrap">4/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:8294.63px;white-space:nowrap">27,826</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7145.17px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:4040.2px;white-space:nowrap">1,322,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:5469.64px;white-space:nowrap">939,612</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:6882.17px;white-space:nowrap">4/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7341.65px;left:9484.06px;white-space:nowrap">(80,613)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:4173.64px;white-space:nowrap">513,907</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:5481.52px;letter-spacing:-1.7px;white-space:nowrap">611,948</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:6882.17px;white-space:nowrap">4/23/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7538.13px;left:9484.06px;white-space:nowrap">(17,440)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:4262.63px;white-space:nowrap">33,330</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:5558.63px;white-space:nowrap">39,567</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:6882.17px;white-space:nowrap">4/29/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7734.62px;left:9573.05px;white-space:nowrap">(1,258)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:3951.22px;white-space:nowrap">10,419,412</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:5024.8px;white-space:nowrap">1,278,784,849</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:6882.17px;white-space:nowrap">4/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7931.1px;left:9395.08px;white-space:nowrap">(360,656)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:3862.23px;white-space:nowrap">212,962,900</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:5336.2px;white-space:nowrap">9,513,643</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:6882.17px;white-space:nowrap">4/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8127.59px;left:9261.64px;white-space:nowrap">(1,054,318)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:4040.2px;white-space:nowrap">1,977,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:5158.23px;white-space:nowrap">148,644,894</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:6882.17px;white-space:nowrap">5/06/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8324.07px;left:9495.94px;letter-spacing:-1.48px;white-space:nowrap">(84,117)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:0px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:640.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:4040.2px;white-space:nowrap">7,636,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:5469.64px;white-space:nowrap">367,018</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:6882.17px;white-space:nowrap">5/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8520.56px;left:9495.94px;letter-spacing:-1.48px;white-space:nowrap">(11,325)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:3728.8px;white-space:nowrap">5,173,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:5336.2px;white-space:nowrap">4,714,041</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:6882.17px;white-space:nowrap">5/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:8294.63px;white-space:nowrap">39,356</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8717.04px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:3728.8px;white-space:nowrap">5,173,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:5336.2px;white-space:nowrap">4,637,590</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:6882.17px;white-space:nowrap">5/17/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8913.53px;left:9406.95px;letter-spacing:-1.32px;white-space:nowrap">(115,807)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:3639.81px;white-space:nowrap">54,022,490,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:5247.22px;white-space:nowrap">49,944,520</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:6882.17px;white-space:nowrap">5/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9110.01px;left:9406.95px;letter-spacing:-1.32px;white-space:nowrap">(304,118)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:3639.81px;white-space:nowrap">54,022,490,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:5247.22px;white-space:nowrap">48,695,232</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:6882.17px;white-space:nowrap">5/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9306.49px;left:9395.08px;white-space:nowrap">(945,170)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:2006.36px;letter-spacing:-0.72px;white-space:nowrap">SCNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:3639.81px;white-space:nowrap">53,046,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:5247.22px;white-space:nowrap">48,683,921</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:6882.17px;white-space:nowrap">5/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:8294.63px;white-space:nowrap">59,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9502.98px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:0px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:462.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:1022.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:1401.2px;letter-spacing:58.47px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:2006.36px;letter-spacing:-0.72px;white-space:nowrap">SCNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:3639.81px;white-space:nowrap">53,046,000,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:5247.22px;white-space:nowrap">47,858,174</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:6882.17px;white-space:nowrap">5/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9699.46px;left:9395.08px;white-space:nowrap">(884,947)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:3951.22px;white-space:nowrap">21,585,814</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:5247.22px;white-space:nowrap">25,731,693</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:6882.17px;white-space:nowrap">5/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9895.95px;left:9395.08px;white-space:nowrap">(720,317)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:4040.2px;white-space:nowrap">9,643,779</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:5259.09px;letter-spacing:-1.19px;white-space:nowrap">11,461,390</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:6882.17px;white-space:nowrap">5/24/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10092.43px;left:9395.08px;white-space:nowrap">(357,466)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:4040.2px;white-space:nowrap">4,545,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:5336.2px;white-space:nowrap">5,417,913</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:6882.17px;white-space:nowrap">5/27/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10288.92px;left:9395.08px;white-space:nowrap">(152,541)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:0px;white-space:nowrap">Swedish </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:649.22px;white-space:nowrap">Krona</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:1120.96px;letter-spacing:52.76px;white-space:nowrap">.....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:3862.23px;white-space:nowrap">157,131,807</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:5247.22px;white-space:nowrap">18,374,765</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:6882.17px;white-space:nowrap">5/27/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:8205.64px;white-space:nowrap">754,062</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.4px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:3862.23px;white-space:nowrap">194,729,100</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:5336.2px;white-space:nowrap">2,589,655</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:6882.17px;white-space:nowrap">6/08/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:8294.63px;white-space:nowrap">29,022</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10681.88px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:4040.2px;white-space:nowrap">2,608,757</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:5348.08px;letter-spacing:-1.32px;white-space:nowrap">2,811,066</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:6099.59px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:6882.17px;white-space:nowrap">6/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10878.37px;left:9573.05px;white-space:nowrap">(8,395)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:0px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:480.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:3951.22px;white-space:nowrap">35,847,100</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:5469.64px;white-space:nowrap">476,437</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:6882.17px;white-space:nowrap">6/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:8383.61px;white-space:nowrap">5,564</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11074.85px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:0px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:462.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:934.13px;letter-spacing:51.68px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:1968px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:4052.08px;letter-spacing:-1.32px;white-space:nowrap">2,811,066</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:5336.2px;white-space:nowrap">2,598,340</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:6095.09px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:6882.17px;white-space:nowrap">6/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11271.34px;left:9573.05px;white-space:nowrap">(4,376)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:4040.2px;white-space:nowrap">3,277,176</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:5247.22px;white-space:nowrap">33,714,869</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:6894.05px;letter-spacing:-1.7px;white-space:nowrap">6/11/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:8294.63px;white-space:nowrap">86,996</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11467.82px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:4040.2px;white-space:nowrap">2,457,710</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:5247.22px;white-space:nowrap">25,262,800</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:6882.17px;white-space:nowrap">6/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:8294.63px;white-space:nowrap">62,458</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11664.31px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:4040.2px;white-space:nowrap">2,482,914</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:5247.22px;white-space:nowrap">26,672,700</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:6882.17px;white-space:nowrap">6/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:8294.63px;white-space:nowrap">64,765</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11860.79px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:3862.23px;white-space:nowrap">969,237,672</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:5336.2px;white-space:nowrap">9,345,653</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:6882.17px;white-space:nowrap">6/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:8294.63px;white-space:nowrap">59,857</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12057.28px;left:9920px;white-space:nowrap">&#8212;</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3857.28px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4119.86px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5002.43px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5359.93px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5586.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5768.45px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6235.25px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6497.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6643.76px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7001.26px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7519.15px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8353.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5980.51px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5980.51px;left:370.28px;white-space:nowrap">Note </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5980.51px;left:800.51px;white-space:nowrap">10 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5980.51px;left:1050.73px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5980.51px;left:1861.26px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5980.51px;left:2321.54px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5980.51px;left:3141.91px;white-space:nowrap">information.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:0px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:844.53px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:48.27px;left:1844.92px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:82.14px;left:2833.98px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:0px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:1781.44px;white-space:nowrap">Counter-</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:2004.87px;white-space:nowrap">party</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:537.83px;left:2396.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:2662.44px;letter-spacing:-2.97px;white-space:nowrap">Type</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:4103.09px;white-space:nowrap">Quantity</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:5390.19px;white-space:nowrap">Contract</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:5381.44px;white-space:nowrap">Amount*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:6598.03px;white-space:nowrap">Settlement</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:7069.2px;white-space:nowrap">Date</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:7902.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:7734.11px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:342.62px;left:9198.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:534.62px;left:9038.86px;white-space:nowrap">Depreciation</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:0px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:2436.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:3012.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:4740.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:6036.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:7404.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:8772.88px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, sans-serif;font-size:20px;font-weight:bold;position:absolute;top:779.72px;left:10068.88px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:0px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:382.19px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:1057.81px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:857.67px;left:1858.13px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:857.67px;left:2649.38px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:3862.23px;white-space:nowrap">387,657,690</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:5336.2px;white-space:nowrap">3,733,940</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:6882.17px;white-space:nowrap">6/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:8205.64px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:8294.63px;white-space:nowrap">27,901</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:9831.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1054.15px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:3728.8px;white-space:nowrap">5,733,483,496</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:5247.22px;white-space:nowrap">55,259,828</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:6882.17px;white-space:nowrap">6/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:8205.64px;white-space:nowrap">378,056</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1250.63px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:628.59px;letter-spacing:-2.21px;white-space:nowrap">Yuan</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:3951.22px;white-space:nowrap">24,254,250</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:5336.2px;white-space:nowrap">3,675,109</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:6882.17px;white-space:nowrap">6/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:8294.63px;white-space:nowrap">16,019</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1447.12px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:4040.2px;white-space:nowrap">3,833,499</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:5247.22px;white-space:nowrap">40,777,700</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:6882.17px;white-space:nowrap">6/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:8294.63px;white-space:nowrap">52,815</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1643.6px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:4040.2px;white-space:nowrap">6,298,565</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:5247.22px;white-space:nowrap">64,353,700</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:6882.17px;white-space:nowrap">6/16/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:8217.52px;letter-spacing:-1.7px;white-space:nowrap">112,571</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.09px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:4040.2px;white-space:nowrap">3,364,988</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:5247.22px;white-space:nowrap">35,735,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:6882.17px;white-space:nowrap">6/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:8294.63px;white-space:nowrap">39,257</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2036.57px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:4040.2px;white-space:nowrap">1,067,786</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:5247.22px;white-space:nowrap">10,890,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:6882.17px;white-space:nowrap">6/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:8294.63px;white-space:nowrap">16,641</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2233.06px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:3862.23px;white-space:nowrap">336,807,120</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:5336.2px;white-space:nowrap">3,254,175</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:6882.17px;white-space:nowrap">6/18/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:8294.63px;white-space:nowrap">14,336</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2429.54px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:2006.36px;letter-spacing:-0.72px;white-space:nowrap">BNDP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:3862.23px;white-space:nowrap">842,027,965</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:5336.2px;white-space:nowrap">8,172,054</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:6882.17px;white-space:nowrap">6/22/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2626.03px;left:9706.48px;white-space:nowrap">(261)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:4173.64px;white-space:nowrap">522,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:5247.22px;white-space:nowrap">39,712,820</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:6882.17px;white-space:nowrap">6/23/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2822.51px;left:9484.06px;white-space:nowrap">(17,569)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:2145.81px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:4040.2px;white-space:nowrap">7,087,991</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:5158.23px;white-space:nowrap">873,949,327</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:6882.17px;white-space:nowrap">6/30/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3018.99px;left:9406.95px;letter-spacing:-1.32px;white-space:nowrap">(211,201)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:0px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:755.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:1214.37px;letter-spacing:53.71px;white-space:nowrap">....</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:4040.2px;white-space:nowrap">2,520,803</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:5158.23px;white-space:nowrap">191,797,791</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:6118.73px;letter-spacing:-0.96px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:6882.17px;white-space:nowrap">7/13/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:8624px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3215.48px;left:9484.06px;white-space:nowrap">(84,362)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:2012.3px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:3862.23px;white-space:nowrap">129,170,830</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:5336.2px;white-space:nowrap">1,245,837</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:6882.17px;white-space:nowrap">9/09/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:8383.61px;white-space:nowrap">9,051</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3411.96px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:4052.08px;letter-spacing:-1.32px;white-space:nowrap">2,457,711</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:5247.22px;white-space:nowrap">25,292,300</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:6103.92px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:6882.17px;white-space:nowrap">9/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:8294.63px;white-space:nowrap">62,452</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3608.45px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:2012.3px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:4040.2px;white-space:nowrap">2,482,909</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:5247.22px;white-space:nowrap">26,731,500</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:6882.17px;white-space:nowrap">9/15/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:8294.63px;white-space:nowrap">64,170</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3804.93px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:0px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:373.65px;letter-spacing:50.42px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:2757.2px;white-space:nowrap">Sell</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:4040.2px;white-space:nowrap">6,149,663</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:5247.22px;white-space:nowrap">65,563,400</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:6090.64px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:6882.17px;white-space:nowrap">9/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:8294.63px;white-space:nowrap">82,768</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4001.42px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:0px;white-space:nowrap">Norwegian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:809.3px;white-space:nowrap">Krone</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:1307.78px;letter-spacing:55.3px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:2021.28px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:3951.22px;white-space:nowrap">21,921,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:5336.2px;white-space:nowrap">2,521,417</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:6882.17px;white-space:nowrap">9/20/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:8294.63px;white-space:nowrap">32,783</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4197.9px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:0px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:735.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:1027.54px;letter-spacing:52.13px;white-space:nowrap">......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:1968px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:2748.3px;white-space:nowrap">Buy</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:3728.8px;white-space:nowrap">1,791,490,400</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:5247.22px;white-space:nowrap">17,367,144</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:6882.17px;white-space:nowrap">9/21/21</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:8294.63px;white-space:nowrap">39,827</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4394.38px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4622.87px;left:144px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4622.87px;left:526.42px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4622.87px;left:1157.67px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4622.87px;left:1913.77px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4622.87px;left:2615.57px;letter-spacing:50.12px;white-space:nowrap">...................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4622.87px;left:7983.22px;white-space:nowrap">$6,775,024</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4622.87px;left:9083.67px;white-space:nowrap">$(24,725,022)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4883.35px;left:288px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4883.35px;left:581.44px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4883.35px;left:1364.17px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4883.35px;left:2280.34px;white-space:nowrap">(depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4883.35px;left:3269.46px;letter-spacing:50.31px;white-space:nowrap">............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4883.35px;left:9083.67px;white-space:nowrap">$(17,949,998)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:5398.2px;left:0px;white-space:nowrap">*</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5393.98px;left:79.75px;white-space:nowrap">In </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5393.98px;left:225.69px;white-space:nowrap">U.S. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5393.98px;left:517.33px;white-space:nowrap">dollars </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5393.98px;left:940.3px;white-space:nowrap">unless </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5393.98px;left:1356.08px;white-space:nowrap">otherwise </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5393.98px;left:1954.05px;white-space:nowrap">indicated.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:5609.24px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:92.55px;white-space:nowrap">May </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:376.93px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:559.35px;white-space:nowrap">comprised </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:1201.07px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:1347px;white-space:nowrap">multiple </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:1835.6px;white-space:nowrap">contracts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:2404.5px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:2674.27px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:2893.18px;white-space:nowrap">same </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:3250.52px;letter-spacing:-0.69px;white-space:nowrap">counterparty, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:4043.25px;white-space:nowrap">currency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:4582.86px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:4838.25px;letter-spacing:0px;white-space:nowrap">settlement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5605.02px;left:5480.13px;white-space:nowrap">date.</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:262.73px;white-space:nowrap">Abbreviations </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:1094.22px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:1276.64px;white-space:nowrap">page </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:1605px;white-space:nowrap">38</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:-21.41px;left:1750.94px;white-space:nowrap">.</div></div>
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			<div style="width:9164px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

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				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:994.69px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1257.27px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2139.84px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2497.34px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2723.44px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2905.86px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3372.66px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3635.23px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3781.17px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4138.67px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4656.56px;white-space:nowrap">statements.</div></div>
		</div>
		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">24</div></div>
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		<div style="background-color:transparent;height:13px;left:66px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,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			<div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:9282.97px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:8977.58px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9519.84px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:9689.06px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:746.96px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:949.44px;left:144px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:949.44px;left:1051.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:949.44px;left:1220.02px;white-space:nowrap">securities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:288px;white-space:nowrap">Cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:661.44px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:759.17px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:1604.09px;white-space:nowrap">issuers</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:2148.5px;letter-spacing:49.55px;white-space:nowrap">...................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:9101.25px;white-space:nowrap">$817,963,187</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:288px;white-space:nowrap">Cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:661.44px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:759.17px;white-space:nowrap">Non-controlled </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:1844.17px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:2475.58px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:2911.28px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:3000.27px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:3080.27px;white-space:nowrap">)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:3176.05px;letter-spacing:49.67px;white-space:nowrap">........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:9279.22px;white-space:nowrap">62,199,567</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1638.35px;left:288px;letter-spacing:-1.98px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1638.35px;left:729.8px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1638.35px;left:827.53px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1638.35px;left:1672.45px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1638.35px;left:2241.91px;letter-spacing:49.56px;white-space:nowrap">..................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1638.35px;left:9101.25px;white-space:nowrap">$757,438,761</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:288px;letter-spacing:-1.98px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:729.8px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:827.53px;white-space:nowrap">Non-controlled </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:1912.53px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:2543.94px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:2979.64px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:3068.63px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:3148.63px;white-space:nowrap">)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:3269.46px;letter-spacing:49.68px;white-space:nowrap">.......................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1840.83px;left:9279.22px;white-space:nowrap">62,199,567</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2043.32px;left:144px;white-space:nowrap">Cash</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2043.32px;left:560.48px;letter-spacing:49.43px;white-space:nowrap">....................................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2043.32px;left:9501.64px;white-space:nowrap">131,079</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:144px;white-space:nowrap">Restricted </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:908.69px;letter-spacing:-1.19px;white-space:nowrap">currency, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:1599.23px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:1777.13px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:2204.08px;white-space:nowrap">(cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:2595.25px;white-space:nowrap">$2,875) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:3182.36px;white-space:nowrap">(Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;position:absolute;top:2264.95px;left:3618.06px;white-space:nowrap">1</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:160px;position:absolute;top:2264.95px;left:3694.86px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:3779.34px;white-space:nowrap">)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:3923.35px;letter-spacing:49.79px;white-space:nowrap">................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2245.8px;left:9679.61px;white-space:nowrap">2,838</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:144px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:730.95px;letter-spacing:-1.19px;white-space:nowrap">currency, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:1421.5px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:1599.39px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:2026.34px;white-space:nowrap">(cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:2417.52px;white-space:nowrap">$516,683)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:3176.05px;letter-spacing:49.67px;white-space:nowrap">........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2448.29px;left:9501.64px;white-space:nowrap">510,725</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2650.77px;left:144px;white-space:nowrap">Receivables:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2853.26px;left:288px;white-space:nowrap">Dividends </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2853.26px;left:1035.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2853.26px;left:1346.44px;white-space:nowrap">interest</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2853.26px;left:1961.68px;letter-spacing:49.54px;white-space:nowrap">.....................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2853.26px;left:9368.2px;white-space:nowrap">4,885,859</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3055.74px;left:288px;white-space:nowrap">Deposits </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3055.74px;left:954.95px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3055.74px;left:1283.94px;white-space:nowrap">brokers </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3055.74px;left:1861.91px;white-space:nowrap">for:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3258.22px;left:432px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3258.22px;left:814.19px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3258.22px;left:1543.41px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3258.22px;left:2241.91px;letter-spacing:49.56px;white-space:nowrap">..................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3258.22px;left:9279.22px;white-space:nowrap">19,680,000</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:144px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:953.3px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:1869.47px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:2091.89px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:2474.08px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:3052.05px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:3790.41px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:4483.83px;letter-spacing:49.91px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3460.71px;left:9368.2px;white-space:nowrap">6,775,024</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3692.19px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3692.19px;left:958.42px;white-space:nowrap">assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3692.19px;left:1494.61px;letter-spacing:49.5px;white-space:nowrap">..........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3692.19px;left:9190.23px;white-space:nowrap">851,623,853</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3923.68px;left:0px;white-space:nowrap">Liabilities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4126.16px;left:144px;white-space:nowrap">Payables:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4328.65px;left:288px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4328.65px;left:1115.03px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4328.65px;left:1835.27px;white-space:nowrap">purchased</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4328.65px;left:2615.57px;letter-spacing:49.6px;white-space:nowrap">..............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4328.65px;left:9501.64px;white-space:nowrap">129,991</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4531.13px;left:288px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4531.13px;left:1266.36px;white-space:nowrap">fees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4531.13px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4531.13px;left:9501.64px;white-space:nowrap">440,843</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:144px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:739.86px;white-space:nowrap">written, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:1300.02px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:1477.91px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:1904.86px;white-space:nowrap">(premiums </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:2704.94px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:3354.16px;white-space:nowrap">$6,539,685)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:4297px;letter-spacing:49.87px;white-space:nowrap">............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4733.62px;left:9368.2px;white-space:nowrap">6,601,172</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:144px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:953.3px;white-space:nowrap">depreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:1869.47px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:2091.89px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:2474.08px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:3052.05px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:3790.41px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:4483.83px;letter-spacing:49.91px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4936.1px;left:9279.22px;white-space:nowrap">24,725,022</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5138.58px;left:144px;white-space:nowrap">Deferred </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5138.58px;left:810.95px;white-space:nowrap">tax</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5138.58px;left:1027.54px;letter-spacing:49.46px;white-space:nowrap">...............................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5138.58px;left:9501.64px;white-space:nowrap">303,666</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:144px;white-space:nowrap">Accrued </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:775.41px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:1504.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:1816.19px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:2225.33px;white-space:nowrap">liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:2895.81px;letter-spacing:49.64px;white-space:nowrap">...........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5341.07px;left:9501.64px;white-space:nowrap">242,347</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5572.55px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5572.55px;left:958.42px;white-space:nowrap">liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5572.55px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5572.55px;left:9279.22px;white-space:nowrap">32,443,041</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5833.04px;left:864px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5833.04px;left:1157.44px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5833.04px;left:1708.77px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5833.04px;left:1886.66px;white-space:nowrap">value</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5833.04px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5833.04px;left:9101.25px;white-space:nowrap">$819,180,812</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.98px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.98px;left:293.44px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.98px;left:800.31px;white-space:nowrap">consist </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6238.98px;left:1342.73px;white-space:nowrap">of:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6470.46px;left:144px;white-space:nowrap">Paid-in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6470.46px;left:686.5px;white-space:nowrap">capital</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6470.46px;left:1214.37px;letter-spacing:49.48px;white-space:nowrap">.............................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6470.46px;left:9101.25px;white-space:nowrap">$987,421,362</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6672.95px;left:144px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6672.95px;left:526.42px;white-space:nowrap">distributable </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6672.95px;left:1433.61px;white-space:nowrap">earnings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6672.95px;left:2091.81px;white-space:nowrap">(losses)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6672.95px;left:2708.98px;letter-spacing:49.61px;white-space:nowrap">.............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6672.95px;left:9083.67px;white-space:nowrap">(168,240,550)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6904.43px;left:864px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6904.43px;left:1157.44px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6904.43px;left:1708.77px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6904.43px;left:1886.66px;white-space:nowrap">value</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6904.43px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6904.43px;left:9101.25px;white-space:nowrap">$819,180,812</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7164.92px;left:144px;white-space:nowrap">Shares </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7164.92px;left:695.41px;white-space:nowrap">outstanding</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7164.92px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7164.92px;left:9190.23px;white-space:nowrap">134,144,158</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:437.44px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:864.31px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:1291.27px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:1566.97px;white-space:nowrap">share</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:2055.09px;letter-spacing:49.55px;white-space:nowrap">....................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7425.4px;left:9691.48px;letter-spacing:-2.37px;white-space:nowrap">$6.11</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:26px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:432px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8272.39px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9109.27px;letter-spacing:8.88px;white-space:nowrap">Statements</div></div>
		</div>
		<div style="height:40px;left:54px;position:absolute;top:78px;width:504px">
			<div style="width:10080px;height:702px;position:absolute;top:4.61px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1257.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1546.42px;white-space:nowrap">Operations</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:260.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:560.3px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:960.47px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:1511.02px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:2391.33px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:333.68px;left:2691.56px;white-space:nowrap">2020</div></div>
		</div>
		<div style="background-color:transparent;height:1px;left:54px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:30px;left:54px;position:absolute;top:739px;width:459px">
			<div style="width:9192px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:8270px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3857.28px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4119.86px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5002.43px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5359.93px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5586.03px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5768.45px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6235.25px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6497.83px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6643.76px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7001.26px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:7519.15px;white-space:nowrap">statements.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8353.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:8798.45px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">25</div></div>
		</div>
		<div style="background-color:transparent;height:13px;left:527px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:13px;left:514px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,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			<div style="width:10080px;height:12258px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">









































































			<div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:9282.97px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:8977.58px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:245.02px;left:9519.84px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:437.02px;left:9689.06px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:746.96px;left:0px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:746.96px;left:827.03px;white-space:nowrap">income:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:949.44px;left:144px;white-space:nowrap">Dividends: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:288px;white-space:nowrap">Non-controlled </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:1373px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:2004.41px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:2440.11px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:2529.09px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:2609.09px;white-space:nowrap">)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:2708.98px;letter-spacing:49.61px;white-space:nowrap">.............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1151.92px;left:9412.66px;white-space:nowrap">$568,001</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:144px;white-space:nowrap">Interest: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:766.5px;white-space:nowrap">(net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:1086.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:1264.55px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:1798.22px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:2225.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1354.41px;left:2402.98px;white-space:nowrap">$1,108,561)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1556.89px;left:288px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1556.89px;left:1132.92px;white-space:nowrap">issuers:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.38px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Inflation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.38px;left:1036.84px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.38px;left:1677.16px;white-space:nowrap">adjustments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.38px;left:2615.57px;letter-spacing:49.6px;white-space:nowrap">..............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1759.38px;left:9368.2px;white-space:nowrap">2,250,794</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1961.86px;left:432px;white-space:nowrap">Paid </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1961.86px;left:796.69px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1961.86px;left:965.67px;white-space:nowrap">cash</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:1965.07px;left:1303.64px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1961.86px;left:1401.2px;letter-spacing:49.49px;white-space:nowrap">...........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1961.86px;left:9279.22px;white-space:nowrap">31,583,093</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2193.35px;left:432px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2193.35px;left:814.42px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2193.35px;left:1632.55px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2193.35px;left:2148.5px;letter-spacing:49.55px;white-space:nowrap">...................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2193.35px;left:9279.22px;white-space:nowrap">34,401,888</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2424.83px;left:0px;white-space:nowrap">Expenses:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:144px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:1122.36px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:1469.23px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:1904.94px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:1993.92px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:2082.91px;white-space:nowrap">)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:2148.5px;letter-spacing:49.55px;white-space:nowrap">...................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.32px;left:9368.2px;white-space:nowrap">5,446,450</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.8px;left:144px;letter-spacing:-0.66px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.8px;left:778.22px;white-space:nowrap">agent</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.8px;left:1223.06px;white-space:nowrap">fees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.8px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.8px;left:9501.64px;white-space:nowrap">163,609</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3032.28px;left:144px;white-space:nowrap">Custodian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3032.28px;left:908.92px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3032.28px;left:1255.8px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3032.28px;left:1691.5px;white-space:nowrap">4</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3032.28px;left:1780.48px;white-space:nowrap">)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3032.28px;left:1868.26px;letter-spacing:49.53px;white-space:nowrap">......................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3032.28px;left:9501.64px;white-space:nowrap">196,386</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3234.77px;left:144px;white-space:nowrap">Reports </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3234.77px;left:748.69px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3234.77px;left:926.58px;white-space:nowrap">shareholders</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3234.77px;left:1868.26px;letter-spacing:49.53px;white-space:nowrap">......................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3234.77px;left:9590.63px;white-space:nowrap">87,870</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.25px;left:144px;white-space:nowrap">Registration </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.25px;left:1042.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.25px;left:1353.61px;text-rendering:optimizeLegibility;white-space:nowrap">filing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.25px;left:1727.13px;white-space:nowrap">fees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.25px;left:2055.09px;letter-spacing:49.55px;white-space:nowrap">....................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3437.25px;left:9501.64px;white-space:nowrap">131,573</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3639.74px;left:144px;white-space:nowrap">Professional </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3639.74px;left:1068.92px;white-space:nowrap">fees</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3639.74px;left:1401.2px;letter-spacing:49.49px;white-space:nowrap">...........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3639.74px;left:9501.64px;white-space:nowrap">107,929</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3842.22px;left:144px;letter-spacing:-0.59px;white-space:nowrap">Trustees&#39; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3842.22px;left:835.48px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3842.22px;left:1182.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3842.22px;left:1493.77px;white-space:nowrap">expenses</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3842.22px;left:2241.91px;letter-spacing:49.56px;white-space:nowrap">..................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3842.22px;left:9501.64px;white-space:nowrap">148,573</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4044.71px;left:144px;white-space:nowrap">Other</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4044.71px;left:560.48px;letter-spacing:49.43px;white-space:nowrap">....................................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4044.71px;left:9590.63px;white-space:nowrap">66,647</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4247.19px;left:432px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4247.19px;left:814.42px;white-space:nowrap">expenses</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4247.19px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4247.19px;left:9368.2px;white-space:nowrap">6,349,037</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:432px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:1179.11px;white-space:nowrap">waived/paid </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:2068.56px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:2282px;text-rendering:optimizeLegibility;white-space:nowrap">affiliates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:2913.41px;white-space:nowrap">(Note </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:3349.11px;white-space:nowrap">3c)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:3643.11px;letter-spacing:49.74px;white-space:nowrap">...................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4449.67px;left:9395.08px;white-space:nowrap">(370,623)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4681.16px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4681.16px;left:869.44px;white-space:nowrap">expenses</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4681.16px;left:1588.02px;letter-spacing:49.51px;white-space:nowrap">.........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4681.16px;left:9368.2px;white-space:nowrap">5,978,414</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4941.64px;left:720px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4941.64px;left:1013.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4941.64px;left:1831.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4941.64px;left:2428.74px;letter-spacing:49.58px;white-space:nowrap">................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4941.64px;left:9279.22px;white-space:nowrap">28,423,474</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5202.13px;left:0px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5202.13px;left:667.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5202.13px;left:978.44px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5202.13px;left:1761.17px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5202.13px;left:2188.13px;white-space:nowrap">(losses):</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5462.61px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5462.61px;left:437.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5462.61px;left:1042.2px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5462.61px;left:1389.16px;white-space:nowrap">(loss) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5462.61px;left:1824.7px;white-space:nowrap">from:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:288px;white-space:nowrap">Investments: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:1239.48px;white-space:nowrap">(net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:1559.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:1737.53px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:2271.2px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:2698.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5694.1px;left:2875.97px;white-space:nowrap">$253,307)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5896.58px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5896.58px;left:1276.92px;white-space:nowrap">issuers</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5896.58px;left:1868.26px;letter-spacing:49.53px;white-space:nowrap">......................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5896.58px;left:9172.66px;white-space:nowrap">(23,348,408)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6099.07px;left:288px;letter-spacing:-0.36px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6099.07px;left:836.28px;white-space:nowrap">options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6099.07px;left:1401.2px;letter-spacing:49.49px;white-space:nowrap">...........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6099.07px;left:9172.66px;white-space:nowrap">(10,094,089)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6301.55px;left:288px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6301.55px;left:874.95px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6301.55px;left:1532.92px;white-space:nowrap">transactions</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6301.55px;left:2428.74px;letter-spacing:49.58px;white-space:nowrap">................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6301.55px;left:9261.64px;white-space:nowrap">(2,663,298)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6504.03px;left:288px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6504.03px;left:919.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6504.03px;left:1657.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6504.03px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6504.03px;left:9172.66px;white-space:nowrap">(16,797,600)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6706.52px;left:288px;white-space:nowrap">Swap </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6706.52px;left:732.69px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6706.52px;left:1401.2px;letter-spacing:49.49px;white-space:nowrap">...........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6706.52px;left:9172.66px;white-space:nowrap">(45,140,012)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6938px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6938px;left:869.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6938px;left:1474.2px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6938px;left:1821.16px;white-space:nowrap">(loss)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6938px;left:2241.91px;letter-spacing:49.56px;white-space:nowrap">..................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6938px;left:9172.66px;white-space:nowrap">(98,043,407)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7169.49px;left:144px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7169.49px;left:437.44px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7169.49px;left:1006.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7169.49px;left:1175.8px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7169.49px;left:1958.53px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7169.49px;left:2874.7px;white-space:nowrap">(depreciation) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7169.49px;left:3897.44px;white-space:nowrap">on:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7371.97px;left:288px;white-space:nowrap">Investments:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:432px;text-rendering:optimizeLegibility;white-space:nowrap">Unaffiliated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:1276.92px;white-space:nowrap">issuers</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:1868.26px;letter-spacing:49.53px;white-space:nowrap">......................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7574.46px;left:9380.08px;letter-spacing:-1.32px;white-space:nowrap">8,576,116</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:288px;letter-spacing:-0.49px;white-space:nowrap">Translation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:1118px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:1295.89px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:1705.03px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:2211.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:2523.31px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:3172.45px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:4142.06px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:4311.05px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:4844.72px;white-space:nowrap">currencies</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:5604.79px;letter-spacing:50.29px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7776.94px;left:9590.63px;white-space:nowrap">37,128</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.42px;left:288px;letter-spacing:-0.36px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.42px;left:836.28px;white-space:nowrap">options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.42px;left:1401.2px;letter-spacing:49.49px;white-space:nowrap">...........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7979.42px;left:9261.64px;white-space:nowrap">(2,279,286)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:288px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:919.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:1657.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:2335.33px;letter-spacing:49.57px;white-space:nowrap">.................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8181.91px;left:9261.64px;white-space:nowrap">(5,978,912)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8384.39px;left:288px;white-space:nowrap">Swap </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8384.39px;left:732.69px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8384.39px;left:1401.2px;letter-spacing:49.49px;white-space:nowrap">...........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8384.39px;left:9279.22px;white-space:nowrap">12,278,088</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8586.88px;left:288px;white-space:nowrap">Change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8586.88px;left:892.92px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8586.88px;left:1061.91px;white-space:nowrap">deferred </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8586.88px;left:1702.3px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8586.88px;left:2129.17px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8586.88px;left:2351.59px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8586.88px;left:3134.33px;white-space:nowrap">appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8586.88px;left:4016.76px;letter-spacing:49.81px;white-space:nowrap">...............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8586.88px;left:9501.64px;white-space:nowrap">274,238</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8818.36px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8818.36px;left:869.44px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8818.36px;left:1438.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8818.36px;left:1607.8px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8818.36px;left:2390.53px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8818.36px;left:3306.7px;white-space:nowrap">(depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8818.36px;left:4297px;letter-spacing:49.87px;white-space:nowrap">............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8818.36px;left:9279.22px;white-space:nowrap">12,907,372</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9078.85px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9078.85px;left:293.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9078.85px;left:898.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9078.85px;left:1209.61px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9078.85px;left:1992.34px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9078.85px;left:2339.3px;white-space:nowrap">(loss)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9078.85px;left:2802.39px;letter-spacing:49.62px;white-space:nowrap">............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9078.85px;left:9172.66px;white-space:nowrap">(85,136,035)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.33px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.33px;left:293.44px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.33px;left:942.66px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.33px;left:1751.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.33px;left:1920.86px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.33px;left:2187.73px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.33px;left:2694.61px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.33px;left:3343.83px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.33px;left:3708.28px;white-space:nowrap">operations</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.33px;left:4483.83px;letter-spacing:49.91px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9339.33px;left:9083.67px;white-space:nowrap">$(56,712,561)</div></div>
		</div>
		<div style="height:18px;left:54px;position:absolute;top:718px;width:504px">
			<div style="width:10080px;height:196px;position:absolute;top:3.04px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:22.81px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:42.54px;white-space:nowrap">Includes</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:567.77px;white-space:nowrap">amortization </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1318.95px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:1464.88px;white-space:nowrap">premium </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2011.68px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2267.07px;white-space:nowrap">accretion </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2835.98px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:18.59px;left:2981.92px;white-space:nowrap">discount.</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:25px;left:36px;position:absolute;top:32px;width:503px">
			<div style="width:10080px;height:421px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:836.88px;letter-spacing:8.88px;white-space:nowrap">Statements</div></div>
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		<div style="height:39px;left:36px;position:absolute;top:77px;width:503px">
			<div style="width:10080px;height:684px;position:absolute;top:4.61px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Statements </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1387.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1676.42px;white-space:nowrap">Changes </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:2789.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3064.01px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3526.5px;white-space:nowrap">Assets</div></div>
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			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:30px;left:82px;position:absolute;top:739px;width:458px">
			<div style="width:9164px;height:259px;position:absolute;top:5.75px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

				<div style="background-color:transparent;height:13px;transform:translate(0.000px,0.000px) rotate(0.000deg) skew(0.000deg) scale(20.000,20.000);transform-origin:0% 0%;width:1px;position:absolute;top:65px;left:912px">

				<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:994.69px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:1257.27px;white-space:nowrap">accompanying </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2139.84px;white-space:nowrap">notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2497.34px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2723.44px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:2905.86px;white-space:nowrap">integral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3372.66px;white-space:nowrap">part </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3635.23px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:3781.17px;white-space:nowrap">these </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4138.67px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:4656.56px;white-space:nowrap">statements.</div></div>
		</div>
		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">26</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div 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			<div style="width:10080px;height:12258px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">




































			<div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:7162.35px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:8003.84px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:8546.1px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:53.02px;left:9150.71px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:313.5px;left:7480.52px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:313.5px;left:7863.09px;white-space:nowrap">Ended</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:505.5px;left:6910.98px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:505.5px;left:7729.19px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:505.5px;left:7996.06px;white-space:nowrap">2020</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:313.5px;left:9208.52px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:313.5px;left:9591.09px;white-space:nowrap">Ended</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:505.5px;left:8638.98px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:505.5px;left:9457.19px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:505.5px;left:9724.06px;white-space:nowrap">2019</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:815.44px;left:0px;white-space:nowrap">Increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:815.44px;left:658.13px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:815.44px;left:1467.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:815.44px;left:1636.33px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:815.44px;left:1903.2px;white-space:nowrap">assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1017.92px;left:144px;white-space:nowrap">Operations:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1220.41px;left:288px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1220.41px;left:581.44px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1220.41px;left:1399.56px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1220.41px;left:1961.68px;letter-spacing:49.7px;white-space:nowrap">.................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1220.41px;left:7462.23px;white-space:nowrap">$28,423,474</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1220.41px;left:9190.23px;white-space:nowrap">$51,339,288</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1422.89px;left:288px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1422.89px;left:581.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1422.89px;left:1186.2px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1422.89px;left:1533.16px;white-space:nowrap">(loss)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1422.89px;left:1961.68px;letter-spacing:49.7px;white-space:nowrap">.................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1422.89px;left:7444.66px;white-space:nowrap">(98,043,407)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1422.89px;left:9368.2px;white-space:nowrap">2,284,787</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1625.38px;left:288px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1625.38px;left:581.44px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1625.38px;left:1150.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1625.38px;left:1319.8px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1625.38px;left:2102.53px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1625.38px;left:3018.7px;white-space:nowrap">(depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1625.38px;left:4016.76px;letter-spacing:50.3px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1625.38px;left:7551.22px;white-space:nowrap">12,907,372</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1625.38px;left:9172.66px;white-space:nowrap">(38,301,552)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1856.86px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1856.86px;left:869.44px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1856.86px;left:1518.66px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1856.86px;left:2327.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1856.86px;left:2496.86px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1856.86px;left:2763.73px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1856.86px;left:3270.61px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1856.86px;left:3919.83px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1856.86px;left:4284.28px;white-space:nowrap">operations</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1856.86px;left:5044.31px;letter-spacing:51.22px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1856.86px;left:7444.66px;white-space:nowrap">(56,712,561)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1856.86px;left:9279.22px;white-space:nowrap">15,322,523</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2088.35px;left:144px;white-space:nowrap">Distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2088.35px;left:1068.77px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2088.35px;left:1246.66px;white-space:nowrap">shareholders</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2088.35px;left:2241.91px;letter-spacing:49.75px;white-space:nowrap">..............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2088.35px;left:7545.52px;letter-spacing:-1.08px;white-space:nowrap">(3,729,110)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2088.35px;left:9172.66px;white-space:nowrap">(54,932,033)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2290.83px;left:144px;white-space:nowrap">Distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2290.83px;left:1068.77px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2290.83px;left:1246.66px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2290.83px;left:2216.11px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2290.83px;left:2580.56px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2290.83px;left:2838.45px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2290.83px;left:3300.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2290.83px;left:3478.77px;white-space:nowrap">capital</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2290.83px;left:4016.76px;letter-spacing:50.3px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2290.83px;left:7444.66px;white-space:nowrap">(25,755,776)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2290.83px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2522.32px;left:144px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2522.32px;left:526.42px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2522.32px;left:1424.63px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2522.32px;left:1602.52px;white-space:nowrap">shareholders</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2522.32px;left:2615.57px;letter-spacing:49.82px;white-space:nowrap">..........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2522.32px;left:7444.66px;white-space:nowrap">(29,484,886)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2522.32px;left:9172.66px;white-space:nowrap">(54,932,033)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2753.8px;left:576px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2753.8px;left:869.44px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2753.8px;left:1518.66px;white-space:nowrap">(decrease) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2753.8px;left:2327.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2753.8px;left:2496.86px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2753.8px;left:2763.73px;white-space:nowrap">assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2753.8px;left:3269.46px;letter-spacing:49.99px;white-space:nowrap">...................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2753.8px;left:7444.66px;white-space:nowrap">(86,197,447)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2753.8px;left:9172.66px;white-space:nowrap">(39,609,510)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2956.28px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2956.28px;left:293.44px;white-space:nowrap">assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3158.77px;left:144px;white-space:nowrap">Beginning </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3158.77px;left:900.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3158.77px;left:1078.06px;white-space:nowrap">year</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3158.77px;left:1401.2px;letter-spacing:49.62px;white-space:nowrap">.......................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3158.77px;left:7462.23px;white-space:nowrap">905,378,259</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3158.77px;left:9190.23px;white-space:nowrap">944,987,769</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3390.25px;left:144px;white-space:nowrap">End </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3390.25px;left:473.14px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3390.25px;left:651.03px;white-space:nowrap">year</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3390.25px;left:1027.54px;letter-spacing:49.57px;white-space:nowrap">...........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3390.25px;left:7373.25px;white-space:nowrap">$819,180,812</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3390.25px;left:9101.25px;white-space:nowrap">$905,378,259</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:25px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:421px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
		</div>
		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">27</div></div>
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		<div style="background-color:transparent;height:1px;left:54px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-color:transparent;height:13px;left:527px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:17px;left:189px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5653.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:13px;left:514px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:51px;left:54px;position:absolute;top:74px;width:504px">
			<div style="width:10080px;height:866px;position:absolute;top:7.44px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:0px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:853.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:1181.6px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:2445.12px;white-space:nowrap">Statements</div></div>
		</div>
		<div style="height:610px;left:54px;position:absolute;top:121px;width:504px">
			<div style="width:10080px;height:12118px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">











			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-0.89px;white-space:nowrap">1. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.69px;white-space:nowrap">Organization </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1436.2px;letter-spacing:-3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1831.33px;text-rendering:optimizeLegibility;letter-spacing:-3.33px;white-space:nowrap">Significant </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:2857.74px;letter-spacing:-3.64px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:3969.21px;letter-spacing:-3.5px;white-space:nowrap">Policies</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:0px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:880.49px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1450.81px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2091.09px;white-space:nowrap">Fund&#160;(Fund) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3131.54px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3311.54px;white-space:nowrap">registered&#160;under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:300.23px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1230.64px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2041.08px;white-space:nowrap">Act </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2351.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2551.29px;white-space:nowrap">1940 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3001.73px;white-space:nowrap">(1940 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3502.18px;white-space:nowrap">Act) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3872.2px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4112.31px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:0px;white-space:nowrap">closed-end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:930.59px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2031.24px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2951.63px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:3732.01px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:4082.34px;white-space:nowrap">applies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:300.23px;white-space:nowrap">specialized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:1240.75px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:2161.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:2511.74px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:3272.17px;white-space:nowrap">guidance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:4052.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:4242.92px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:0px;white-space:nowrap">Generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:810.44px;white-space:nowrap">Accepted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:1601.02px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:2541.62px;white-space:nowrap">Principles </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:3371.92px;white-space:nowrap">(U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344px;left:3831.94px;white-space:nowrap">GAAP). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:360.18px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:1110.59px;white-space:nowrap">summarizes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:2130.73px;white-space:nowrap">the&#160;Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:3015.62px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1774px;left:3866.04px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2024px;left:0px;white-space:nowrap">policies.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2527.54px;left:0px;white-space:nowrap">a. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2527.54px;left:211.25px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2527.54px;left:1087.58px;white-space:nowrap">Instrument </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2527.54px;left:2122.1px;letter-spacing:-1.05px;white-space:nowrap">Valuation&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:360.18px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:944.82px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:1955.21px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:2145.32px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:2855.74px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:3836.07px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2858px;left:4146.24px;white-space:nowrap">carried </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:0px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:200.13px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:500.19px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:980.51px;letter-spacing:-1.91px;white-space:nowrap">daily. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:1437.36px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:1797.36px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:2277.69px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:2457.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:2757.92px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:3198.08px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:3548.32px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3108px;left:4068.63px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:0px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:730.37px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:930.5px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:1250.6px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:1500.82px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:1981.05px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:2191.11px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:2581.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:2781.56px;white-space:nowrap">transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:3441.8px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:3591.91px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:4182.1px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3358px;left:4372.21px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:0px;white-space:nowrap">orderly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:600.21px;white-space:nowrap">transaction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:1530.7px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:2261.25px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:2861.37px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:3831.86px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3608px;left:4082.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:0px;white-space:nowrap">measurement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:1150.49px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:1597.59px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:1957.76px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:2418.05px;white-space:nowrap">calculates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:3268.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:3568.71px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3858px;left:3868.95px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:480.32px;letter-spacing:-2.23px;white-space:nowrap">(NAV) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:1006.96px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:1317.13px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:1817.4px;white-space:nowrap">each&#160;business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:3018.16px;white-space:nowrap">day&#160;as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:3598.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:3798.63px;white-space:nowrap">4 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4108px;left:3948.75px;white-space:nowrap">p.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:0px;white-space:nowrap">Eastern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:670.34px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:1060.4px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:1270.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:1570.69px;white-space:nowrap">regularly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:2311px;white-space:nowrap">scheduled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:3181.64px;white-space:nowrap">close </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:3651.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:3851.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4358px;left:4152.22px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:0px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:403.59px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:903.78px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:1754.38px;white-space:nowrap">(NYSE), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:2464.45px;white-space:nowrap">whichever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:3324.81px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:3504.81px;letter-spacing:-1.1px;white-space:nowrap">earlier. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4608px;left:4095.09px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:0px;white-space:nowrap">compliance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:960.47px;white-space:nowrap">policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:1610.77px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:1961.1px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:2911.64px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:3712.24px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:3952.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4858px;left:4252.59px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:530.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:727.21px;letter-spacing:-0.51px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:1470.76px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:1830.94px;white-space:nowrap">Board), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:2471.22px;white-space:nowrap">the&#160;Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:3356.1px;white-space:nowrap">administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5108px;left:4446.47px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:0px;white-space:nowrap">responsibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:1090.46px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:1350.53px;white-space:nowrap">oversight </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:2130.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:2331.04px;white-space:nowrap">valuation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:3151.58px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5358px;left:3912.1px;white-space:nowrap">leading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:300.23px;white-space:nowrap">cross-functional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:1610.77px;letter-spacing:-1.34px;white-space:nowrap">Valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:2398.01px;white-space:nowrap">Committee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:3318.22px;white-space:nowrap">(VC). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:3784.92px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5608px;left:4145.1px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:0px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:390.06px;white-space:nowrap">utilize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:900.26px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:1941.24px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:2521.49px;white-space:nowrap">services, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:3281.66px;white-space:nowrap">quotations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5858px;left:4162.32px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:810.26px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:1160.6px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:1871.02px;white-space:nowrap">instrument </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:2761.35px;white-space:nowrap">dealers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:3451.73px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:3802.06px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6108px;left:4262.34px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:0px;white-space:nowrap">sources </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:680.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:880.4px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:1730.83px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6358px;left:2030.89px;white-space:nowrap">value.&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6788px;left:0px;white-space:nowrap">Debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6788px;left:430.22px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6788px;left:1240.49px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6788px;left:2020.96px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6788px;left:2481.24px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6788px;left:2671.35px;white-space:nowrap">the&#160;over-the-counter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:0px;white-space:nowrap">(OTC) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:549.84px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:1149.96px;white-space:nowrap">rather </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:1670.19px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:2070.53px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:2320.75px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:2470.87px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:3281.13px;white-space:nowrap">exchange. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7038px;left:4158.54px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:0px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:584.65px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:1164.9px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:1875.06px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:2215.28px;white-space:nowrap">multiple </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:2885.54px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7288px;left:3656.07px;white-space:nowrap">techniques </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:200.13px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:1050.56px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:1350.62px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:1880.95px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:2081.07px;white-space:nowrap">instances </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:2891.51px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7538px;left:3431.78px;text-rendering:optimizeLegibility;white-space:nowrap">sufficient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:600.12px;white-space:nowrap">activity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:1200.23px;white-space:nowrap">exists, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:1760.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:2060.6px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:2640.85px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:3351.01px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:3741.06px;white-space:nowrap">utilize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7788px;left:4251.27px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:0px;white-space:nowrap">market-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:1150.49px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:1951.08px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:2611.58px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:3121.79px;white-space:nowrap">quotes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:3712.24px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8038px;left:4122.25px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:0px;white-space:nowrap">makers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:640.11px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:950.27px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:1390.61px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:1590.73px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:2441.16px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:2741.22px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:3271.55px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8288px;left:3471.68px;white-space:nowrap">instances </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:0px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:540.26px;text-rendering:optimizeLegibility;white-space:nowrap">sufficient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:1300.61px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:1900.72px;white-space:nowrap">activity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:2500.84px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:2890.9px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:3191.13px;white-space:nowrap">exist </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:3611.25px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:3821.31px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8538px;left:4001.31px;white-space:nowrap">limited, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:300.23px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:880.49px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:1590.64px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:1970.86px;white-space:nowrap">utilize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:2481.06px;white-space:nowrap">proprietary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8788px;left:3391.44px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:0px;white-space:nowrap">models </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:630.26px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:1140.47px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:1530.53px;white-space:nowrap">consider </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:2260.9px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:2861.02px;white-space:nowrap">characteristics </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:4061.34px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9038px;left:4491.56px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:0px;white-space:nowrap">benchmark </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:940.43px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:1360.63px;white-space:nowrap">curves, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:1990.81px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:2480.98px;white-space:nowrap">spreads, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:3221.37px;white-space:nowrap">estimated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9288px;left:4051.76px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:0px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:500.19px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:1420.84px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:2020.96px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:2661.24px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:3021.42px;letter-spacing:-1.11px;white-space:nowrap">volatility, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9538px;left:3748.27px;white-space:nowrap">coupon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:0px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:500.19px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:1420.84px;white-space:nowrap">timing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:1951px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:2151.12px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:2871.47px;white-space:nowrap">repayments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9788px;left:3911.92px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:0px;white-space:nowrap">collateral, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:820.37px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:1170.7px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:1630.99px;white-space:nowrap">unique </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:2221.52px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:2891.69px;white-space:nowrap">features </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:3592.09px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:3782.2px;white-space:nowrap">order </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10038px;left:4252.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:0px;white-space:nowrap">estimate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:730.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:1030.52px;white-space:nowrap">relevant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:1720.9px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:2151.12px;text-rendering:optimizeLegibility;white-space:nowrap">flows, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:2661.24px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:3171.45px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:3481.61px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10288px;left:3881.95px;white-space:nowrap">discounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:200.13px;white-space:nowrap">calculate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:960.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:1260.79px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:1560.85px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:2091.18px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:2931.5px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10538px;left:4022.31px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:150.12px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:750.5px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:1490.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:1800.88px;white-space:nowrap">converted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:2641.38px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:2981.6px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:3381.77px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10788px;left:3781.85px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:0px;white-space:nowrap">equivalent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:870.64px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:1070.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:1371.01px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:1971.39px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:2802.04px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:3162.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:3352.32px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:3839.33px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:4039.45px;white-space:nowrap">4 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11038px;left:4189.57px;white-space:nowrap">p.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:0px;white-space:nowrap">Eastern </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:670.34px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:1060.4px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:1310.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:1610.86px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:2011.2px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:2361.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:2661.68px;white-space:nowrap">values </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:3232px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:3432.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:3732.36px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11288px;left:4332.74px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11538px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11538px;left:810.26px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11538px;left:1120.43px;white-space:nowrap">determined.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6240.41px;white-space:nowrap">in&#160;open-end&#160;mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7831.49px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8321.84px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8632px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9212.43px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9412.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">closing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5830.31px;letter-spacing:-5.98px;white-space:nowrap">NAV. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:5220px;white-space:nowrap">Certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:5850.26px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:6670.63px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:7381.05px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:8361.39px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:8671.55px;white-space:nowrap">centrally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:9391.82px;white-space:nowrap">cleared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5430.06px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5890.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6080.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6380.68px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6810.64px;white-space:nowrap">market. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:7457.52px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:7817.7px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8402.34px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8982.6px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5220px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5560.22px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6190.49px;white-space:nowrap">techniques </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7111.14px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7871.66px;white-space:nowrap">industry </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8551.93px;white-space:nowrap">standard </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9302.43px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5220px;white-space:nowrap">pricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5800.25px;white-space:nowrap">models </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6430.52px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6780.85px;white-space:nowrap">proprietary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7691.22px;white-space:nowrap">discounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8611.88px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:9042.1px;text-rendering:optimizeLegibility;white-space:nowrap">flow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:9412.21px;white-space:nowrap">models </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5420.13px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6270.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6570.79px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6870.85px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7351.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7551.3px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8041.64px;white-space:nowrap">instruments. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9068.73px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9428.91px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5520.23px;text-rendering:optimizeLegibility;white-space:nowrap">benefit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6110.68px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6320.74px;white-space:nowrap">obligation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7141.38px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7651.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7951.99px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8772.36px;white-space:nowrap">contract, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9512.67px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6070.43px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6310.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6610.78px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6910.84px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7391.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7591.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7891.52px;white-space:nowrap">contract, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8631.83px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8811.83px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9532.35px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9722.46px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">assets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:6040.46px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:6380.68px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:7331.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:7531.35px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:8381.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:8682.01px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:8982.07px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:9462.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:5930.42px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:6910.75px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:7170.82px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:7681.03px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:8281.14px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:8811.3px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:9121.46px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:9421.7px;white-space:nowrap">reliable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:5430.06px;white-space:nowrap">readily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:6010.31px;white-space:nowrap">available. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:6820.84px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:7361.1px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:7851.45px;white-space:nowrap">procedures, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:8851.99px;white-space:nowrap">the&#160;Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:5220px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:5950.02px;white-space:nowrap">employs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:6670.28px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:6820.4px;white-space:nowrap">market-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:7970.89px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:8771.48px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:9281.69px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:5220px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:5560.22px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:6160.61px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:6370.66px;white-space:nowrap">comparable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7361.19px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7931.43px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:8141.48px;white-space:nowrap">liabilities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:8921.78px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:5220px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:6290.51px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:6890.63px;white-space:nowrap">multiples, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:7700.89px;white-space:nowrap">book </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:8141.22px;white-space:nowrap">values, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:8761.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:9111.88px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:5220px;white-space:nowrap">relevant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:5910.38px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:6850.81px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:7110.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:7411.11px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:8331.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:8531.63px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:9382.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:5220px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:5520.06px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6000.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6200.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6500.74px;white-space:nowrap">investment. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7461.21px;white-space:nowrap">An </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7731.39px;white-space:nowrap">income-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:8912.02px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:5220px;white-space:nowrap">approach </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6020.6px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6410.65px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6790.87px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7041.09px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7481.43px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7671.53px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8181.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8481.97px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:9402.63px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5220px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5650.22px;text-rendering:optimizeLegibility;white-space:nowrap">flows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6110.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6310.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6610.69px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7531.08px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7841.25px;white-space:nowrap">discounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8761.9px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8962.03px;white-space:nowrap">calculate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5220px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5520.06px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6050.39px;white-space:nowrap">Discounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6890.71px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7280.77px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7660.99px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7911.21px;white-space:nowrap">applied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8541.74px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8892.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:9092.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:9392.43px;white-space:nowrap">nature </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5430.06px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6130.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6330.67px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6670.9px;white-space:nowrap">restrictions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7591.11px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7841.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8141.57px;white-space:nowrap">disposition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:9042.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:9242.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:5220px;white-space:nowrap">investments. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6280.4px;white-space:nowrap">Due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6660.62px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6860.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7160.98px;white-space:nowrap">inherent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7861.46px;white-space:nowrap">uncertainty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8791.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8992.09px;white-space:nowrap">valuations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:9852.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5220px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5650.22px;white-space:nowrap">investments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:6710.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7010.86px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7310.92px;white-space:nowrap">values </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:7881.24px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:8271.3px;letter-spacing:-0.46px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:8718.22px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:9698.64px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:5520.23px;white-space:nowrap">values </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6090.56px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6440.8px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:6961.11px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:7401.45px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:7851.88px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:8292.22px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:8642.55px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:8892.77px;white-space:nowrap">active </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:9413px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:5220px;white-space:nowrap">existed. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:7092.18px;left:5220px;white-space:nowrap">b. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:7092.18px;left:5441.64px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:7092.18px;left:6191.06px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:7092.18px;left:7078.07px;letter-spacing:-0.87px;white-space:nowrap">Translation&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:5220px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:5930.33px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:6740.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:7090.93px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:7551.21px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:8121.45px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7422.64px;left:8471.78px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:5220px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:6310.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:6500.92px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:7101.3px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:7981.61px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:8291.78px;white-space:nowrap">translated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:9132.28px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7672.64px;left:9472.5px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:5220px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:5800.25px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:6340.69px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:6590.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:6891.15px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:7721.81px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:8081.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:8282.11px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7922.64px;left:8712.33px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:5220px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:5850.44px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:6250.52px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:6830.77px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:7081px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:7381.23px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:7781.57px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:7981.7px;white-space:nowrap">valuation. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:8798.99px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:9159.17px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8172.64px;left:9619.45px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:5220px;white-space:nowrap">enter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:5680.28px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:6020.51px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:6620.89px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:7361.1px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:8191.76px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:8972.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8422.64px;left:9172.18px;white-space:nowrap">facilitate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:5220px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:6240.5px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:7331.31px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:7521.42px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:7671.53px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:8271.91px;letter-spacing:-1.34px;white-space:nowrap">currency. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8672.64px;left:9048.78px;white-space:nowrap">Purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:5570.33px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:6040.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:6240.67px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:7100.95px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:7731.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:8081.54px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8922.64px;left:8812.09px;white-space:nowrap">items </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:5220px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:6310.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:6500.92px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:7101.3px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:7981.61px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:8291.78px;white-space:nowrap">translated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:9132.28px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9172.64px;left:9472.5px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:5220px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:5800.25px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:6000.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:6300.62px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:7131.27px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:7491.45px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:7681.55px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:8168.55px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:8418.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:8719.01px;white-space:nowrap">transaction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9422.64px;left:9649.51px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:5220px;white-space:nowrap">Portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:5930.33px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:6740.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:7090.93px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:7661.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:8011.49px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9672.64px;left:8741.78px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:5410.11px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:6010.49px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:6890.8px;white-space:nowrap">contain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:7521.24px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:7941.18px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:8291.43px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:8781.77px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9922.64px;left:9662.08px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:5220px;white-space:nowrap">decline </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:5840.42px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:6030.53px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:6510.85px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:7141.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:7341.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:7641.47px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:8041.55px;letter-spacing:-1.24px;white-space:nowrap">dollar. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10172.64px;left:8571.88px;letter-spacing:-0.95px;white-space:nowrap">Occasionally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:5220px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:5800.34px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:6190.4px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:6770.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:7070.8px;white-space:nowrap">availability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:7951.2px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:8161.26px;white-space:nowrap">reliability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:8911.49px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10422.64px;left:9111.62px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:5220px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:6050.65px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:6500.83px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:6941.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:7141.29px;white-space:nowrap">convert </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:7781.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:8081.81px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:8481.88px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10672.64px;left:8972.14px;white-space:nowrap">equivalent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:5220px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:5750.33px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:5900.36px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:6330.59px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:6580.81px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:7071.15px;white-space:nowrap">occurs, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:7701.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:8001.56px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:8601.94px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10922.64px;left:9432.6px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:5220px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:5519.97px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:5770.2px;white-space:nowrap">valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:6350.63px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:6550.75px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:6850.81px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:7331.13px;white-space:nowrap">using </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:7811.46px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:8761.99px;white-space:nowrap">established </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11172.64px;left:9722.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11422.64px;left:5220px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11422.64px;left:6020.6px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11422.64px;left:6260.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11422.64px;left:6560.95px;white-space:nowrap">Board.</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:820.46px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:1260.79px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:1561.03px;white-space:nowrap">separately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2441.51px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2961.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3261.97px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3748.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3949.1px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:190.11px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:790.49px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1621.14px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:2071.32px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:2481.33px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3211.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3401.98px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:4002.1px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:250.22px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1060.49px;white-space:nowrap">held. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1500.82px;white-space:nowrap">Such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1961.1px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:2691.65px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3001.82px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3722.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3912.45px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:0px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:680.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:1030.69px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:1911.27px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2301.59px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2511.65px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2881.76px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:3291.77px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:4302.16px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:4492.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:0px;white-space:nowrap">Statement&#160;of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:1070.6px;white-space:nowrap">Operations.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:0px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:750.41px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:1350.79px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:2181.45px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:2661.77px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:2871.83px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:3432.04px;white-space:nowrap">arise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:3872.2px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2418px;left:4282.21px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:200.13px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:800.51px;white-space:nowrap">currencies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:1730.83px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:2471.04px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:2951.37px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:3161.43px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2668px;left:3721.64px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:0px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:730.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:1030.78px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:1491.06px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:1841.4px;white-space:nowrap">settlement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:2721.8px;white-space:nowrap">dates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:3212.14px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2918px;left:3462.36px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:0px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:1020.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:1370.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:1671.06px;letter-spacing:-0.3px;white-space:nowrap">difference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:2508.31px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:3238.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3168px;left:3539.09px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:0px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:740.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:940.52px;white-space:nowrap">dividends, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:1801.05px;white-space:nowrap">interest, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:2491.35px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:2841.68px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3418px;left:3442.06px;white-space:nowrap">withholding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:0px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:480.23px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:830.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:1130.8px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:1530.88px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:2021.13px;white-space:nowrap">equivalent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:2891.78px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:3091.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:3392.14px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3668px;left:4132.53px;white-space:nowrap">actually </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:0px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:730.37px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:940.43px;white-space:nowrap">paid. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:1380.76px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:1710.88px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:2591.46px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:3191.84px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3918px;left:4022.49px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:350.33px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:910.55px;white-space:nowrap">arise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:1350.7px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:1760.71px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:2491.26px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:2681.37px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:3281.75px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4168px;left:4112.4px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:250.22px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:850.61px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:1941.42px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:2511.65px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:2861.98px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:3592.27px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:4052.55px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:0px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:1010.39px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:1200.5px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:2010.76px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:2401.08px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:2601.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:2901.45px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:3251.78px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:3451.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:3752.14px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:0px;white-space:nowrap">period.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5421.54px;left:0px;white-space:nowrap">c. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5421.54px;left:211.25px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5421.54px;left:1172.38px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:5421.54px;left:2048.72px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:360.18px;white-space:nowrap">Fund&#160;invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:1540.9px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:1731.01px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:2551.38px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:3261.8px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5752px;left:4242.13px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:0px;white-space:nowrap">order </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:470.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:670.34px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:1370.83px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:1700.77px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:1910.83px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:2301.15px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:3091.64px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:3291.77px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6002px;left:3922.03px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:0px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:1010.39px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:1220.45px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:1960.58px;white-space:nowrap">Derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:2900.83px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:3211px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6252px;left:3921.42px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:0px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:540.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:790.66px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:1040.89px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:1921.46px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:2131.52px;white-space:nowrap">notional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:2812.06px;white-space:nowrap">amount, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:3512.46px;white-space:nowrap">require </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6502px;left:4122.77px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:0px;white-space:nowrap">initial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:460.2px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:1380.59px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:1590.64px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:1840.87px;white-space:nowrap">initial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:2301.06px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:2601.3px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:3521.69px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:3871.93px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6752px;left:4051.93px;white-space:nowrap">smaller </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:0px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:400.34px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:920.65px;white-space:nowrap">normally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:1650.85px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:1901.07px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:2611.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:2811.62px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:3251.95px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:3402.07px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7002px;left:3972.04px;white-space:nowrap">response </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:200.13px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:930.67px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:1120.78px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:1720.9px;white-space:nowrap">factors, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:2361.09px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:2711.43px;white-space:nowrap">require </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:3321.74px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:3531.8px;white-space:nowrap">permit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7252px;left:4081.9px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:0px;white-space:nowrap">settlement. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:930.41px;white-space:nowrap">Derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:1870.66px;white-space:nowrap">contain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:2501.1px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:3131.37px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7502px;left:3551.31px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:300.23px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:1030.78px;white-space:nowrap">inability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:1681.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:1881.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:2181.45px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:3232px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:3432.13px;text-rendering:optimizeLegibility;white-space:nowrap">fulfill </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7752px;left:3842.23px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:0px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:910.63px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:1421.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:1721.25px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:2221.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:2421.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:2721.62px;white-space:nowrap">contract, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:3461.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:3762.16px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8002px;left:4492.71px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:0px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:250.22px;white-space:nowrap">illiquid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:800.51px;white-space:nowrap">secondary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:1681px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:2331.12px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:2891.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:3191.75px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:3922.29px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8252px;left:4182.36px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:0px;white-space:nowrap">movements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:980.33px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:1490.54px;white-space:nowrap">expose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:2120.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:2421.21px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:2881.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:3081.62px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:3561.94px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:3772px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8502px;left:4332.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:0px;white-space:nowrap">excess </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:610.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:810.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:1110.59px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:1850.98px;white-space:nowrap">shown </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:2421.3px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:2611.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:2911.64px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:3782.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8752px;left:3972.3px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:350.33px;white-space:nowrap">Liabilities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:1190.74px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:1941.15px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:2331.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:2681.81px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:3051.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9002px;left:3402.25px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:0px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:1030.69px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:1381.03px;white-space:nowrap">depreciation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:2411.72px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:2661.94px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:3152.29px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:3932.58px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9252px;left:4192.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:0px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:550.37px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:860.54px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:1581.06px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:1771.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:2071.41px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:2941.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9502px;left:3142px;white-space:nowrap">Operations. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:0px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:850.25px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:1900.81px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:2390.98px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:2720.92px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:2900.92px;white-space:nowrap">managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:3701.51px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:4362.01px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:0px;white-space:nowrap">formal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:550.11px;white-space:nowrap">evaluation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:1420.75px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:1620.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:1921.11px;white-space:nowrap">creditworthiness </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:3271.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:3471.77px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:3701.87px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:0px;white-space:nowrap">counterparties. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:1237.41px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:1597.59px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:2057.87px;white-space:nowrap">attempts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:2798.17px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:2998.3px;white-space:nowrap">reduce&#160;its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:3828.69px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:200.13px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:1250.68px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:1740.85px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:2070.79px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:2321.02px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:2750.98px;white-space:nowrap">derivatives, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682px;left:3711.36px;white-space:nowrap">whenever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:0px;white-space:nowrap">possible, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:760.43px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:1000.55px;white-space:nowrap">entering </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:1701.04px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:2041.26px;white-space:nowrap">International </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:3081.97px;white-space:nowrap">Swaps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932px;left:3672.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11182px;left:0px;white-space:nowrap">Derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11182px;left:930.32px;white-space:nowrap">Association </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11182px;left:1900.81px;white-space:nowrap">(ISDA) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11182px;left:2490.82px;white-space:nowrap">master </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11182px;left:3090.94px;white-space:nowrap">agreements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11432px;left:0px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11432px;left:370.11px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11432px;left:960.38px;white-space:nowrap">counterparties. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11432px;left:2197.79px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11432px;left:2748.08px;white-space:nowrap">agreements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11432px;left:3748.62px;white-space:nowrap">contain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:0px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:630.26px;white-space:nowrap">provisions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:1540.63px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:2301.15px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:2601.39px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:2901.62px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:3471.77px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11682px;left:3671.89px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:0px;white-space:nowrap">requirements, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:1150.49px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:1730.83px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:1930.96px;white-space:nowrap">default, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:2571.42px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:2781.47px;white-space:nowrap">early </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11932px;left:3221.63px;white-space:nowrap">termination. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;letter-spacing:-1.66px;white-space:nowrap">Termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6200.42px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6780.76px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7641.39px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7841.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8141.75px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9192.3px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5810.27px;white-space:nowrap">deteriorations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6950.92px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7141.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7441.26px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7931.43px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8501.75px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8701.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9002.11px;letter-spacing:-0.95px;white-space:nowrap">counterparty. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;letter-spacing:-1.66px;white-space:nowrap">Termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6200.42px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6780.76px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7641.39px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7841.51px;white-space:nowrap">the&#160;Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8602.03px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9222.45px;white-space:nowrap">failure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5720.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6180.64px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6380.77px;white-space:nowrap">maintain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7111.14px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7701.42px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8001.65px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8481.88px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8992.09px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9552.48px;white-space:nowrap">limit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5520.23px;white-space:nowrap">decline </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6140.65px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6330.76px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6631px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7201.23px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7601.4px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8231.66px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8872.03px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9072.16px;white-space:nowrap">time. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9512.23px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5520.23px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6010.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6210.7px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6801.15px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7011.21px;white-space:nowrap">early </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7451.37px;white-space:nowrap">termination, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8441.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8742.04px;letter-spacing:-1.99px;white-space:nowrap">ISDA </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9202.24px;white-space:nowrap">master </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6130.55px;white-space:nowrap">gives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6600.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6901px;white-space:nowrap">non-defaulting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8091.91px;white-space:nowrap">party </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8542.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8842.32px;white-space:nowrap">right </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9242.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9442.62px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5570.33px;white-space:nowrap">close-out </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6350.71px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6580.81px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7601.31px;white-space:nowrap">traded, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8211.71px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8902.09px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9112.15px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9412.38px;white-space:nowrap">arising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5220px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5730.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6030.62px;letter-spacing:-1.99px;white-space:nowrap">ISDA </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6490.81px;white-space:nowrap">agreement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7451.37px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7651.49px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8001.83px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8302.06px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8952.45px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:9632.99px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5220px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5570.33px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6620.89px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6821.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7121.25px;letter-spacing:-1.42px;white-space:nowrap">other. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7621.61px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8421.94px;white-space:nowrap">absent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9012.39px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9262.62px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5420.13px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6010.58px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6220.63px;white-space:nowrap">early </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6660.79px;white-space:nowrap">termination, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7651.23px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8081.19px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8901.56px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:5570.33px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6300.62px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6610.78px;white-space:nowrap">presented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7461.39px;white-space:nowrap">gross </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7951.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:8301.88px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:8602.12px;letter-spacing:-0.46px;white-space:nowrap">offset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:9089.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:9279.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:5220px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6090.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6280.66px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6870.85px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:7221.18px;white-space:nowrap">Liabilities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8061.59px;white-space:nowrap">Early </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8521.7px;white-space:nowrap">termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:9462.13px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:9702.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:5220px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6270.56px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6660.62px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7150.78px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7340.89px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7591.11px;white-space:nowrap">immediate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:8471.43px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:9211.82px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:9451.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5680.28px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5880.41px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6220.63px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6520.87px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7111.05px;white-space:nowrap">owed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7591.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7791.5px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:8141.75px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9192.3px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9702.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5220px;letter-spacing:-1.99px;white-space:nowrap">ISDA </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5680.2px;white-space:nowrap">agreement. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5220px;white-space:nowrap">Collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6030.35px;white-space:nowrap">requirements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7130.83px;letter-spacing:-0.46px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7577.75px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7817.87px;white-space:nowrap">type </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8208.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8408.23px;white-space:nowrap">derivative. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:9278.61px;white-space:nowrap">Collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5220px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5720.01px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6030.18px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6720.47px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7370.68px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7630.75px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8060.71px;white-space:nowrap">derivatives. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:9021.09px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:9341.1px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5220px;white-space:nowrap">derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6130.37px;white-space:nowrap">traded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6690.76px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7201.14px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7451.37px;letter-spacing:-1.99px;white-space:nowrap">ISDA </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7911.56px;white-space:nowrap">master </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8511.68px;white-space:nowrap">agreement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:9472.24px;white-space:nowrap">posting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5420.13px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6190.49px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6370.49px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7080.91px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7321.03px;white-space:nowrap">either </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7821.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8121.53px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8581.82px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8791.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:9092.11px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5220px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6270.56px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6410.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6710.8px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7101.04px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7401.27px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8191.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8391.88px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8621.98px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:9051.94px;white-space:nowrap">derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5220px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5590.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5890.34px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6750.97px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:7801.52px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8521.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8822.2px;white-space:nowrap">minimum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5220px;white-space:nowrap">transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5880.23px;white-space:nowrap">amount, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6580.63px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7090.84px;white-space:nowrap">typically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7781.04px;white-space:nowrap">ranges </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8381.43px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8791.44px;white-space:nowrap">$100,000 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:9592.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5220px;white-space:nowrap">$250,000, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6070.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6421.11px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6761.34px;white-space:nowrap">vary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7151.4px;white-space:nowrap">depending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8042.26px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8292.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8592.71px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:9643.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5520.23px;white-space:nowrap">type </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5910.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6110.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6410.83px;white-space:nowrap">agreement. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7371.39px;letter-spacing:-1.21px;white-space:nowrap">Generally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:8228.41px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:8998.77px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:9178.77px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5220px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5720.36px;white-space:nowrap">close </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6190.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6390.7px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6850.99px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:7611.42px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8051.75px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8391.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8742.3px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:9082.53px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5220px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5990.36px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:6700.78px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:7051.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:7251.24px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:7981.79px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:8171.89px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:8992.27px;white-space:nowrap">values </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5220px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5610.06px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5860.28px;white-space:nowrap">delivered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:6640.75px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:6880.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:7181.1px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:7641.39px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:7851.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:8151.68px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:9202.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:9502.47px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:5220px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:5980.43px;letter-spacing:-2.67px;white-space:nowrap">day, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:6357.3px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:6567.36px;white-space:nowrap">within </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:7077.57px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:7227.69px;white-space:nowrap">few </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:7557.8px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:8318.23px;white-space:nowrap">days. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:8798.47px;white-space:nowrap">Collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5220px;white-space:nowrap">pledged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5910.64px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:6471.04px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7201.41px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7441.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7741.76px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8252.05px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8392.06px;letter-spacing:-2.67px;white-space:nowrap">any, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8768.94px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8948.94px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:9339.26px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:5220px;white-space:nowrap">segregated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6170.71px;white-space:nowrap">accounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6941.16px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:7311.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:7611.5px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:8198.53px;white-space:nowrap">custodian/counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5220px;white-space:nowrap">broker </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5780.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6130.55px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6470.77px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6721px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6911.1px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:7211.34px;white-space:nowrap">form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:7621.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:7821.47px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8251.7px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8812.09px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:5220px;white-space:nowrap">Unrestricted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:6240.32px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:6670.55px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:7060.61px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:7310.83px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:8031.27px;white-space:nowrap">according </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:8861.75px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:9061.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:9362.11px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:5220px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:6140.39px;white-space:nowrap">objectives. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:7037.58px;letter-spacing:-6.65px;white-space:nowrap">To </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:7277.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:7577.93px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8118.28px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8468.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8768.76px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:5220px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:5570.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:5770.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6070.69px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6530.98px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6940.99px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:7171px;white-space:nowrap">counterparties </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:8361.65px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:8671.82px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:8972.05px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:9592.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:5220px;white-space:nowrap">collateralization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6510.67px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6720.73px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7030.9px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7331.13px;white-space:nowrap">fully </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7701.24px;white-space:nowrap">collateralized, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:8851.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:9152.05px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:9612.33px;white-space:nowrap">bears </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5520.23px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5850.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6050.3px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6420.41px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6830.42px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:7880.98px;white-space:nowrap">non-performance.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5580.18px;white-space:nowrap">Fund&#160;entered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6700.96px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7041.18px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7471.14px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8121.36px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8952.01px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5220px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5950.02px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6150.15px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6850.63px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7411.03px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7801.35px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8591.84px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8791.96px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9382.24px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5220px;white-space:nowrap">currencies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6140.39px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6300.53px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6950.74px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7781.4px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8471.69px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8651.69px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8901.91px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5220px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5950.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6250.78px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6711.06px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7061.4px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7211.51px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8262.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8462.2px;white-space:nowrap">buy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8802.42px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9012.48px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9332.58px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9482.7px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5220px;white-space:nowrap">currency&#160;at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6160.34px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6310.46px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6960.67px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7791.33px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8151.5px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8401.73px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8551.85px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:9062.14px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:6040.46px;white-space:nowrap">entered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:6700.96px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:7041.18px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:7681.46px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:8041.64px;white-space:nowrap">swap </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:8511.86px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:9292.15px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:5420.13px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:6120.62px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:6760.9px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:7121.07px;white-space:nowrap">risk. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:7491.09px;white-space:nowrap">An </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:7761.27px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:8401.55px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:8761.73px;white-space:nowrap">swap </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:9231.94px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:5220px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:5470.22px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:6380.77px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:7111.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:7411.55px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:7871.84px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:8222.17px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:8372.29px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:9422.84px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:5220px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:6050.65px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:6480.88px;text-rendering:optimizeLegibility;white-space:nowrap">flows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:6940.99px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:7481.43px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:7731.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:8031.88px;letter-spacing:-0.3px;white-space:nowrap">difference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:8869.13px;white-space:nowrap">between </div></div>
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			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-0.89px;white-space:nowrap">1. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.69px;white-space:nowrap">Organization </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1436.2px;letter-spacing:-3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1831.33px;text-rendering:optimizeLegibility;letter-spacing:-3.33px;white-space:nowrap">Significant </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:2857.74px;letter-spacing:-3.64px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:3969.21px;letter-spacing:-3.5px;white-space:nowrap">Policies</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:250.14px;left:0px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:0px;white-space:nowrap">b. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:221.64px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:971.06px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:1858.07px;letter-spacing:-0.7px;white-space:nowrap">Translation&#160; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:682.94px;left:2977.19px;white-space:nowrap">(continued)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:7461.73px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8019.91px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8272.39px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9109.27px;letter-spacing:8.88px;white-space:nowrap">Statements</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">29</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:0px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:330.12px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:970.4px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:1470.59px;white-space:nowrap">applied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2101.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2301.24px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:2451.36px;white-space:nowrap">notional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3131.89px;white-space:nowrap">amount. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:988px;left:3829.04px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:0px;white-space:nowrap">agreements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1000.55px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1390.61px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:1640.83px;white-space:nowrap">privately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:2361.09px;white-space:nowrap">negotiated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3251.87px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3441.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1238px;left:3742.21px;white-space:nowrap">over-the-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:0px;white-space:nowrap">counter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:650.39px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1250.51px;white-space:nowrap">(OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:1740.41px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:2380.69px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:2740.87px;white-space:nowrap">swaps) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3361.03px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3571.08px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1488px;left:3961.14px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:0px;white-space:nowrap">executed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:780.56px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:1030.78px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:1180.9px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2031.33px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:2861.98px;white-space:nowrap">(centrally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1738px;left:3642.19px;white-space:nowrap">cleared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:0px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:640.28px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:1000.46px;white-space:nowrap">swaps). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:1670.63px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:1990.63px;white-space:nowrap">centrally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:2710.9px;white-space:nowrap">cleared </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:3351.27px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1988px;left:3991.55px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:0px;white-space:nowrap">swaps, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:610.22px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:1320.64px;white-space:nowrap">initial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:1780.84px;white-space:nowrap">margins </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:2471.04px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:2781.21px;white-space:nowrap">pledged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:3471.86px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:3711.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:4012.21px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2238px;left:4522.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:300.23px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:720.44px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:1360.99px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:1551.09px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:1851.15px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:2331.47px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:2511.47px;white-space:nowrap">accounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:3392.14px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:3652.21px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:3892.32px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2488px;left:4042.44px;white-space:nowrap">variation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:0px;white-space:nowrap">margin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:600.21px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:1280.74px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:1490.8px;white-space:nowrap">receivable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:2361.27px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:2551.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:2851.61px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:3722.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2738px;left:3912.28px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:350.33px;white-space:nowrap">Liabilities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:1190.74px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:1630.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:1931.04px;white-space:nowrap">term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:2341.05px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:2541.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:2841.42px;white-space:nowrap">contract, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2988px;left:3581.72px;white-space:nowrap">contractually </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:0px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:710.42px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:1540.81px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:1740.94px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:1991.16px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:2381.48px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:2731.82px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:2931.94px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:3182.17px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3238px;left:3912.54px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:0px;white-space:nowrap">accrued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:690.38px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:1110.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:1460.92px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:2221.35px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:2461.46px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:3342.04px;white-space:nowrap">depreciation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3488px;left:4372.73px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:0px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:1030.69px;white-space:nowrap">until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:1410.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:1711.14px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:2541.53px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:2851.7px;white-space:nowrap">made, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:3401.98px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:3602.11px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:4112.31px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3738px;left:4502.37px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3988px;left:0px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3988px;left:310.17px;white-space:nowrap">realized. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:820.46px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:1711.05px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:1921.11px;white-space:nowrap">wrote </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:2411.28px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:2841.24px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:3381.68px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4418px;left:4161.97px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:200.13px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:900.62px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:1461.01px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:1851.33px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:2641.82px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:2841.94px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:3442.32px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4668px;left:4272.98px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:0px;white-space:nowrap">risk. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:370.02px;white-space:nowrap">An </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:640.2px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:1180.63px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:1360.63px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:1510.75px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:2201.04px;white-space:nowrap">entitling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:2871.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:3171.71px;white-space:nowrap">holder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:3722.08px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4918px;left:3922.21px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5168px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5168px;left:210.06px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5168px;left:530.16px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5168px;left:680.27px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5168px;left:1330.49px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5168px;left:1980.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5168px;left:2181.01px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5168px;left:2771.28px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5168px;left:2981.34px;white-space:nowrap">units </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5168px;left:3411.56px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5168px;left:3611.69px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5168px;left:3861.91px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5418px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5418px;left:210.06px;white-space:nowrap">notional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5418px;left:890.6px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5418px;left:1540.99px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5418px;left:1741.11px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5418px;left:1891.23px;white-space:nowrap">swap </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5418px;left:2361.45px;white-space:nowrap">(swaption), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5418px;left:3291.77px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5418px;left:3491.89px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5418px;left:3642.01px;text-rendering:optimizeLegibility;white-space:nowrap">specified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5668px;left:0px;white-space:nowrap">price. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5668px;left:490.17px;white-space:nowrap">When </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5668px;left:1010.39px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5668px;left:1260.62px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5668px;left:1801.05px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5668px;left:1981.05px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5668px;left:2871.65px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5668px;left:3081.71px;white-space:nowrap">written, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5668px;left:3711.88px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5668px;left:3962.11px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5918px;left:0px;white-space:nowrap">equal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5918px;left:490.43px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5918px;left:690.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5918px;left:990.79px;white-space:nowrap">premium </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5918px;left:1740.94px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5918px;left:2131.26px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5918px;left:2341.32px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5918px;left:3071.69px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5918px;left:3251.69px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5918px;left:4012.12px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5918px;left:4252.24px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6168px;left:0px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6168px;left:480.23px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6168px;left:690.29px;letter-spacing:-1.21px;white-space:nowrap">liability, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6168px;left:1317.13px;letter-spacing:-0.95px;white-space:nowrap">respectively. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6168px;left:2354.15px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6168px;left:2834.47px;white-space:nowrap">exercise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6168px;left:3554.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6168px;left:3754.86px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6168px;left:4005.09px;white-space:nowrap">option, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6418px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6418px;left:300.23px;white-space:nowrap">acquisition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6418px;left:1200.76px;white-space:nowrap">cost </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6418px;left:1580.89px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6418px;left:1790.95px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6418px;left:2261.16px;white-space:nowrap">proceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6418px;left:3051.65px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6418px;left:3251.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6418px;left:3552.01px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668px;left:0px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668px;left:920.39px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668px;left:1100.39px;white-space:nowrap">adjusted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668px;left:1830.94px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668px;left:2071.05px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668px;left:2411.28px;white-space:nowrap">premium </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668px;left:3161.43px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668px;left:3891.8px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668px;left:4101.86px;white-space:nowrap">paid. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918px;left:0px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918px;left:480.32px;white-space:nowrap">expiration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918px;left:1310.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918px;left:1510.93px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918px;left:1761.15px;white-space:nowrap">option, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918px;left:2351.6px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918px;left:2691.83px;white-space:nowrap">premium </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918px;left:3441.97px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918px;left:4172.34px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918px;left:4382.4px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168px;left:0px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168px;left:179.74px;letter-spacing:0px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168px;left:939.92px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168px;left:1179.78px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168px;left:1329.64px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168px;left:2009.75px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168px;left:2399.81px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168px;left:2609.62px;white-space:nowrap">loss. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168px;left:3029.48px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168px;left:3509.54px;white-space:nowrap">closing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168px;left:4119.6px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168px;left:4369.57px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7418px;left:0px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7418px;left:460.28px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7418px;left:860.63px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7418px;left:1521.12px;white-space:nowrap">expiration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7418px;left:2351.6px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7418px;left:2561.66px;white-space:nowrap">exercise, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7418px;left:3331.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7418px;left:3632.17px;letter-spacing:-0.3px;white-space:nowrap">difference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7668px;left:0px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7668px;left:730.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7668px;left:1030.78px;white-space:nowrap">premium </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7668px;left:1780.93px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7668px;left:2511.3px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7668px;left:2721.36px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7668px;left:3111.68px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7668px;left:3462.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7668px;left:3762.25px;white-space:nowrap">cost </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7668px;left:4142.37px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7668px;left:4342.5px;white-space:nowrap">close </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7918px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7918px;left:300.23px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7918px;left:970.66px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7918px;left:1150.66px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7918px;left:1911.09px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7918px;left:2151.21px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7918px;left:2301.33px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7918px;left:2981.69px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7918px;left:3372.01px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7918px;left:3582.07px;white-space:nowrap">loss.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8348px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8348px;left:370.28px;white-space:nowrap">Note </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8348px;left:800.51px;white-space:nowrap">10&#160;regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8348px;left:1861.26px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8348px;left:2321.54px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8348px;left:3141.91px;white-space:nowrap">information.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:8851.54px;left:0px;white-space:nowrap">d. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:8851.54px;left:221.64px;white-space:nowrap">Restricted </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:8851.54px;left:1203.64px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:1901.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:2201.31px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:2661.59px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:3051.91px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:3932.23px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182px;left:4122.33px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:0px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:690.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:880.22px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:1390.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:1690.66px;white-space:nowrap">ability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:2200.87px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:2401px;white-space:nowrap">repatriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:3211.44px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:3641.66px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432px;left:4381.88px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:0px;white-space:nowrap">limited. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:610.22px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:870.29px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:1020.41px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:1510.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:1710.7px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:2140.93px;white-space:nowrap">limitations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:2991.18px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:3241.41px;white-space:nowrap">repatriation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682px;left:4241.95px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:460.28px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:850.34px;white-space:nowrap">incur </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:1290.5px;white-space:nowrap">substantial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:2201.04px;white-space:nowrap">delays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:2771.37px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:2961.47px;white-space:nowrap">gaining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:3592px;white-space:nowrap">access </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:4202.23px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932px;left:4402.35px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:0px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:570.23px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:920.57px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:1310.63px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:1560.85px;white-space:nowrap">exposed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:2291.4px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:2491.52px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:3222.07px;white-space:nowrap">adverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182px;left:3912.45px;white-space:nowrap">movements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:190.11px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432px;left:930.32px;white-space:nowrap">value. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:10935.54px;left:0px;white-space:nowrap">e. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:10935.54px;left:211.25px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:10935.54px;left:929.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:10935.54px;left:1319.79px;white-space:nowrap">Deferred </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:10935.54px;left:2154.01px;letter-spacing:-2.35px;white-space:nowrap">Taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266px;left:0px;white-space:nowrap">It </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266px;left:150.03px;white-space:nowrap">is&#160;the&#160;Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266px;left:1214.91px;white-space:nowrap">policy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266px;left:1725.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266px;left:1925.24px;white-space:nowrap">qualify </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266px;left:2495.57px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266px;left:2735.68px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266px;left:2885.8px;white-space:nowrap">regulated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11266px;left:3686.4px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516px;left:0px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516px;left:780.38px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516px;left:1290.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516px;left:1591px;white-space:nowrap">Internal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516px;left:2241.39px;white-space:nowrap">Revenue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11516px;left:3011.92px;letter-spacing:-0.14px;white-space:nowrap">Code.&#160;The&#160;Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766px;left:0px;white-space:nowrap">intends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766px;left:630.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766px;left:830.57px;white-space:nowrap">distribute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766px;left:1610.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766px;left:1811.07px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766px;left:2901.71px;white-space:nowrap">substantially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766px;left:3942.25px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766px;left:4172.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11766px;left:4372.47px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">taxable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5850.44px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6480.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6831.04px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7131.27px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7811.63px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8291.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8492.08px;white-space:nowrap">relieve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9072.33px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9212.34px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5820.38px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6450.64px;white-space:nowrap">and&#160;excise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7361.19px;white-space:nowrap">taxes. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7881.5px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8141.57px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8291.69px;white-space:nowrap">result, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8831.87px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9082.09px;white-space:nowrap">provision </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9852.45px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5620.08px;white-space:nowrap">federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6220.46px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6850.72px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7330.96px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7510.96px;white-space:nowrap">required.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5220px;white-space:nowrap">The&#160;Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6040.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6430.52px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6680.74px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:7301.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:7501.2px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8101.58px;white-space:nowrap">taxation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8782.03px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:9382.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5220px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5850.26px;white-space:nowrap">received, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6630.64px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7200.97px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7681.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7931.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8231.75px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8611.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8812.09px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5570.33px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6160.61px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6760.99px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7501.2px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8521.7px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8711.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:9012.04px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5220px;white-space:nowrap">jurisdictions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6210.35px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6400.46px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6910.66px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7050.67px;white-space:nowrap">invests. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7710.91px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8371.23px;white-space:nowrap">taxes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8901.47px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9041.48px;letter-spacing:-2.67px;white-space:nowrap">any, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9418.36px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5980.43px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6520.87px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6771.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7071.33px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7361.46px;white-space:nowrap">regulations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8292.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8642.37px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9092.55px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9442.79px;white-space:nowrap">exist </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5410.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5710.34px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6310.72px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7000.84px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7190.95px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7701.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8001.39px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8461.67px;white-space:nowrap">invests. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9121.9px;white-space:nowrap">When </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9642.13px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5790.32px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6180.64px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6470.77px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6650.77px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7601.31px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7801.44px;letter-spacing:-1.91px;white-space:nowrap">apply, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8318.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8618.64px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:9078.93px;white-space:nowrap">records </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:9729.14px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5220px;white-space:nowrap">estimated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6050.39px;white-space:nowrap">deferred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6770.83px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7060.96px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7651.14px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7841.25px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8091.47px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8741.87px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:9092.11px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:9612.42px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5900.54px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6040.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6340.78px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7151.04px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7591.2px;white-space:nowrap">disposed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8361.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8561.87px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8812.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9112.32px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">date.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:6040.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:6430.52px;white-space:nowrap">recognize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:7261px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:7511.22px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:8141.48px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:8431.61px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:9021.8px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:9622.18px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:9822.3px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:5220px;white-space:nowrap">uncertain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:6010.49px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:6300.62px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7061.04px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7571.43px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:7971.5px;letter-spacing:-0.65px;white-space:nowrap">GAAP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:8518.45px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:8998.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:9299px;white-space:nowrap">uncertain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:5220px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:5510.13px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:6180.56px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:6520.78px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:6670.9px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:7041.01px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:7441.35px;white-space:nowrap">50% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:7851.62px;white-space:nowrap">probability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:8722.09px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:9072.33px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:9212.34px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:9512.31px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:5220px;white-space:nowrap">sustained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:6040.55px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:6490.99px;white-space:nowrap">examination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:7511.57px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:7751.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:8051.92px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:8342.05px;white-space:nowrap">authorities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:9222.54px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:5220px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:5470.22px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:5700.23px;white-space:nowrap">technical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6460.66px;white-space:nowrap">merits. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7040.74px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7300.81px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7500.94px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:8381.25px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:8681.48px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:9181.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:9482.17px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:5220px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:5560.22px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6510.76px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6861.01px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7111.23px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7401.36px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7991.54px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8171.54px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8881.96px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:9072.07px;text-rendering:optimizeLegibility;white-space:nowrap">its&#160;financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5220px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6150.41px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6750.79px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6950.92px;white-space:nowrap">uncertain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7741.41px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8031.53px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8791.96px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:9052.03px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:9392.26px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5220px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:5510.13px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6000.29px;white-space:nowrap">(or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:6270.29px;white-space:nowrap">expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7050.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7250.98px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7501.2px;white-space:nowrap">taken </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:7991.54px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8181.65px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8691.94px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:8982.07px;white-space:nowrap">years). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:9582.19px;white-space:nowrap">Open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5220px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:5510.13px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6000.29px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6310.46px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:6800.8px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7151.04px;white-space:nowrap">remain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:7751.25px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8371.58px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:8571.71px;white-space:nowrap">examination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:9592.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:5220px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:5530.17px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6070.61px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6320.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:6621.06px;white-space:nowrap">statute </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7211.43px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:7411.55px;white-space:nowrap">limitations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8261.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8451.91px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:8892.25px;white-space:nowrap">jurisdiction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:9792.6px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5220px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:5730.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:6030.44px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:6490.72px;white-space:nowrap">invests.&#160;</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6592.18px;left:5220px;white-space:nowrap">f. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6592.18px;left:5388.85px;white-space:nowrap">Security </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6592.18px;left:6191.43px;letter-spacing:-0.75px;white-space:nowrap">Transactions, </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6592.18px;left:7469.11px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6592.18px;left:8524.96px;white-space:nowrap">Income, </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6852.18px;left:5220px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6852.18px;left:6159.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:6852.18px;left:6550.56px;white-space:nowrap">Distributions</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7182.64px;left:5220px;white-space:nowrap">Security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7182.64px;left:5920.22px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7182.64px;left:6940.72px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7182.64px;left:7250.89px;white-space:nowrap">accounted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7182.64px;left:8131.55px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7182.64px;left:8391.62px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7182.64px;left:8641.85px;white-space:nowrap">trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7182.64px;left:9102.13px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7432.64px;left:5220px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7432.64px;left:5970.41px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7432.64px;left:6450.73px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7432.64px;left:6801.06px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7432.64px;left:7361.28px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7432.64px;left:7611.5px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7432.64px;left:8281.67px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7432.64px;left:9302.17px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7682.64px;left:5220px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7682.64px;left:6170.54px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7682.64px;left:6420.76px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7682.64px;left:6570.88px;text-rendering:optimizeLegibility;white-space:nowrap">specific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7682.64px;left:7221.09px;text-rendering:optimizeLegibility;white-space:nowrap">identification </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7682.64px;left:8271.74px;white-space:nowrap">basis. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7682.64px;left:8791.96px;white-space:nowrap">Interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7682.64px;left:9442.27px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7932.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7932.64px;left:5570.33px;white-space:nowrap">estimated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7932.64px;left:6400.72px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7932.64px;left:7221.27px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7932.64px;left:7531.44px;white-space:nowrap">accrued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7932.64px;left:8221.82px;letter-spacing:-1.91px;white-space:nowrap">daily. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7932.64px;left:8668.74px;white-space:nowrap">Amortization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7932.64px;left:9719.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8182.64px;left:5220px;white-space:nowrap">premium </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8182.64px;left:5970.15px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8182.64px;left:6320.48px;white-space:nowrap">accretion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8182.64px;left:7100.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8182.64px;left:7300.99px;white-space:nowrap">discount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8182.64px;left:8021.43px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8182.64px;left:8271.65px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8182.64px;left:8671.99px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8182.64px;left:9482.26px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8432.64px;left:5220px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8432.64px;left:5940.53px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8432.64px;left:6130.63px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8432.64px;left:6770.92px;white-space:nowrap">income. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8432.64px;left:7451.19px;white-space:nowrap">Dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8432.64px;left:8201.6px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8432.64px;left:8831.87px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8432.64px;left:9011.87px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8682.64px;left:5220px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8682.64px;left:5470.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8682.64px;left:5770.46px;white-space:nowrap">ex-dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8682.64px;left:6741.04px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8682.64px;left:7191.39px;white-space:nowrap">Distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8682.64px;left:8231.75px;white-space:nowrap">to&#160;shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8682.64px;left:9522.51px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8932.64px;left:5220px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8932.64px;left:5980.43px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8932.64px;left:6230.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8932.64px;left:6530.89px;white-space:nowrap">ex-dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8932.64px;left:7501.46px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8932.64px;left:7951.82px;white-space:nowrap">Distributable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8932.64px;left:9002.29px;white-space:nowrap">earnings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182.64px;left:5220px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182.64px;left:5530.17px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182.64px;left:6480.7px;white-space:nowrap">according </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182.64px;left:7311.18px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182.64px;left:7511.31px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182.64px;left:8141.57px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182.64px;left:8431.7px;white-space:nowrap">regulations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9182.64px;left:9362.29px;white-space:nowrap">(tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432.64px;left:5220px;white-space:nowrap">basis) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432.64px;left:5750.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432.64px;left:6100.49px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432.64px;left:6490.55px;letter-spacing:-0.46px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432.64px;left:6937.47px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432.64px;left:7347.48px;white-space:nowrap">earnings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432.64px;left:8087.96px;white-space:nowrap">recorded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432.64px;left:8848.39px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9432.64px;left:9038.5px;white-space:nowrap">accordance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682.64px;left:5220px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682.64px;left:5590.11px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682.64px;left:5990.19px;letter-spacing:-3.87px;white-space:nowrap">GAAP. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682.64px;left:6563.94px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682.64px;left:7114.22px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682.64px;left:8041.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682.64px;left:8431.52px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682.64px;left:8681.75px;white-space:nowrap">permanent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9682.64px;left:9592.29px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932.64px;left:5220px;letter-spacing:-1.21px;white-space:nowrap">temporary. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932.64px;left:6116.92px;white-space:nowrap">Permanent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932.64px;left:7047.42px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932.64px;left:7974.67px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932.64px;left:8284.83px;text-rendering:optimizeLegibility;white-space:nowrap">reclassified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9932.64px;left:9235.2px;white-space:nowrap">among </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182.64px;left:5220px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182.64px;left:5790.32px;white-space:nowrap">accounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182.64px;left:6560.77px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182.64px;left:6760.9px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182.64px;left:7301.07px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182.64px;left:7701.24px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182.64px;left:7991.37px;letter-spacing:-0.9px;white-space:nowrap">character. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10182.64px;left:8828.53px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">reclassifications </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432.64px;left:6540.47px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432.64px;left:6980.8px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432.64px;left:7231.03px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432.64px;left:7811.19px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432.64px;left:8061.42px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432.64px;left:8361.65px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432.64px;left:8931.88px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432.64px;left:9141.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10432.64px;left:9442.18px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682.64px;left:5420.13px;white-space:nowrap">operations. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682.64px;left:6357.48px;letter-spacing:-2px;white-space:nowrap">Temporary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682.64px;left:7257.74px;letter-spacing:-0.27px;white-space:nowrap">differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682.64px;left:8184.99px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682.64px;left:8495.16px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682.64px;left:8795.39px;text-rendering:optimizeLegibility;white-space:nowrap">reclassified, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10682.64px;left:9795.76px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932.64px;left:5220px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932.64px;left:5610.23px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932.64px;left:6000.29px;white-space:nowrap">reverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932.64px;left:6650.51px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932.64px;left:6840.62px;white-space:nowrap">subsequent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10932.64px;left:7821.39px;white-space:nowrap">periods.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">Inflation-indexed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362.64px;left:6590.92px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362.64px;left:7131.36px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362.64px;left:7441.52px;white-space:nowrap">adjusted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362.64px;left:8172.07px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362.64px;left:8432.14px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11362.64px;left:9102.57px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612.64px;left:5220px;white-space:nowrap">periodic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612.64px;left:5900.36px;white-space:nowrap">increases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612.64px;left:6720.73px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612.64px;left:6930.79px;white-space:nowrap">decreases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612.64px;left:7811.28px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612.64px;left:8001.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612.64px;left:8301.62px;white-space:nowrap">security&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11612.64px;left:9096.15px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862.64px;left:5220px;white-space:nowrap">accruals, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862.64px;left:5990.27px;white-space:nowrap">face </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862.64px;left:6380.51px;white-space:nowrap">amount, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862.64px;left:7080.91px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862.64px;left:7290.97px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862.64px;left:8011.32px;white-space:nowrap">redemption </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862.64px;left:8961.86px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11862.64px;left:9492.19px;white-space:nowrap">by </div></div>
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			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-0.89px;white-space:nowrap">1. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.69px;white-space:nowrap">Organization </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1436.2px;letter-spacing:-3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1831.33px;text-rendering:optimizeLegibility;letter-spacing:-3.33px;white-space:nowrap">Significant </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:2857.74px;letter-spacing:-3.64px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:3969.21px;letter-spacing:-3.5px;white-space:nowrap">Policies</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:250.14px;left:0px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:0px;white-space:nowrap">c. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:211.25px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:1172.38px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:2048.72px;white-space:nowrap">Instruments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:682.94px;left:3188.9px;white-space:nowrap">(continued)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:558.17px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:810.66px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:1647.53px;letter-spacing:8.88px;white-space:nowrap">Statements</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">30</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:0px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:740.39px;white-space:nowrap">corresponding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:1931.13px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:2131.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:2431.49px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:2791.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:2991.8px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:3662.23px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1248px;left:3902.34px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:240.12px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:490.34px;white-space:nowrap">index. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:1010.74px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:1370.92px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:2101.29px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:2311.35px;white-space:nowrap">decrease </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:3101.84px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:3291.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:3592.18px;white-space:nowrap">face </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1498px;left:3982.41px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:210.06px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:930.41px;white-space:nowrap">redemption </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:1880.95px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:2361.27px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:2661.24px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:2911.46px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:3631.99px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1748px;left:3872.11px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:0px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:720.35px;white-space:nowrap">adjustments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:1740.85px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:1930.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:2231.19px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:3101.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1998px;left:3301.79px;white-space:nowrap">Operations.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2501.54px;left:0px;white-space:nowrap">g. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2501.54px;left:214.58px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2501.54px;left:1312.28px;white-space:nowrap">Estimates</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:360.18px;white-space:nowrap">preparation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:1320.82px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:1520.95px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:2231.37px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:3161.78px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:3351.88px;white-space:nowrap">accordance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2832px;left:4332.48px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:0px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:400.08px;letter-spacing:-0.65px;white-space:nowrap">GAAP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:947.02px;white-space:nowrap">requires </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:1647.33px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:2747.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:2948.12px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:3438.28px;white-space:nowrap">estimates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3082px;left:4258.56px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:0px;white-space:nowrap">assumptions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:1060.49px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:1410.73px;letter-spacing:-0.46px;white-space:nowrap">affect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:1897.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:2197.97px;white-space:nowrap">reported </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:2918.41px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:3658.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3332px;left:3858.93px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5570.33px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6300.62px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6500.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6800.98px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7201.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7401.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7701.68px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8412.1px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9342.51px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5520.23px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6260.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6460.75px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7091.02px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7441.35px;white-space:nowrap">expenses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8261.89px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8812.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9112.5px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">period. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5810.45px;white-space:nowrap">Actual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6360.73px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6940.9px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7421.22px;letter-spacing:-0.46px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7868.14px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8278.15px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8768.5px;white-space:nowrap">estimates.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:982.18px;left:5220px;white-space:nowrap">h. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:982.18px;left:5441.64px;white-space:nowrap">Guarantees </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:982.18px;left:6539.89px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:982.18px;left:6930.46px;text-rendering:optimizeLegibility;white-space:nowrap">Indemnifications</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1312.64px;left:5220px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1312.64px;left:5760.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1312.64px;left:6060.5px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1312.64px;left:6645.15px;white-space:nowrap">organizational </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1312.64px;left:7815.94px;white-space:nowrap">documents, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1312.64px;left:8796.45px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1312.64px;left:9026.46px;text-rendering:optimizeLegibility;white-space:nowrap">officers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1562.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1562.64px;left:5570.33px;white-space:nowrap">trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1562.64px;left:6260.62px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1562.64px;left:6570.79px;text-rendering:optimizeLegibility;white-space:nowrap">indemnified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1562.64px;left:7541.37px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1562.64px;left:7781.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1562.64px;left:8081.72px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1562.64px;left:8542px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1562.64px;left:9172.44px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:5220px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:5950.28px;white-space:nowrap">arising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:6530.54px;white-space:nowrap">out </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:6830.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:7030.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:7331.13px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:8391.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:8591.75px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:8991.91px;white-space:nowrap">duties </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1812.64px;left:9522.25px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:5520.23px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:6020.6px;letter-spacing:-0.95px;white-space:nowrap">Additionally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:7027.82px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:7217.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:7518.16px;white-space:nowrap">normal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:8118.37px;white-space:nowrap">course </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:8708.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:8908.77px;white-space:nowrap">business, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2062.64px;left:9719.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:5680.28px;white-space:nowrap">enters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:6230.57px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:6570.79px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:7351.08px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:7721.19px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:8341.35px;white-space:nowrap">providers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:9131.66px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2312.64px;left:9481.9px;white-space:nowrap">contain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:5220px;white-space:nowrap">general </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:5870.48px;text-rendering:optimizeLegibility;white-space:nowrap">indemnification </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:7121.16px;white-space:nowrap">clauses. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:7828.24px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:8188.42px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2562.64px;left:8773.07px;white-space:nowrap">maximum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:5220px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:6010.49px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:6520.87px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:7011.21px;white-space:nowrap">arrangements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:8171.81px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:8351.81px;white-space:nowrap">unknown </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:9122.34px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2812.64px;left:9362.46px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:5220px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:5740.31px;white-space:nowrap">involve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:6350.62px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:6860.92px;white-space:nowrap">claims </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:7420.96px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:7771.2px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:8161.26px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:8411.48px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:8911.76px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3062.64px;left:9542.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:5680.28px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:6030.53px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:6470.86px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:6771.09px;white-space:nowrap">yet </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:7061.22px;white-space:nowrap">occurred. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:7861.55px;letter-spacing:-1.21px;white-space:nowrap">Currently, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:8678.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:8978.64px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3312.64px;left:9438.93px;white-space:nowrap">expects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:5520.23px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:5850.18px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:6050.3px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:6420.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:6620.54px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3562.64px;left:6870.76px;white-space:nowrap">remote.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4145.71px;left:0px;letter-spacing:-0.89px;white-space:nowrap">2. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4145.71px;left:210.36px;letter-spacing:-3.43px;white-space:nowrap">Shares </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4145.71px;left:905.02px;letter-spacing:-2.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4145.71px;left:1137.36px;text-rendering:optimizeLegibility;letter-spacing:-3.27px;white-space:nowrap">Beneficial </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:4145.71px;left:2097.75px;letter-spacing:-3.5px;white-space:nowrap">Interest</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:1901.07px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:2361.36px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:2801.51px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:3051.74px;white-space:nowrap">unlimited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:3822.1px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:4482.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:4682.55px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:5272.82px;white-space:nowrap">authorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:6163.42px;white-space:nowrap">(without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:6843.69px;white-space:nowrap">par </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:7153.86px;white-space:nowrap">value). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:7744.13px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:8324.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4513.44px;left:8624.62px;white-space:nowrap">years&#160;ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:0px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:880.31px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:1180.55px;white-space:nowrap">2020 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:1630.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:1981.32px;white-space:nowrap">2019 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:2431.76px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:2892.04px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:3332.2px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:3582.42px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:4172.7px;white-space:nowrap">issued; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:4793.03px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:5023.13px;white-space:nowrap">reinvested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:5903.61px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:6914.09px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:7354.25px;text-rendering:optimizeLegibility;white-space:nowrap">satisfied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:8064.58px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:8434.69px;white-space:nowrap">previously </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4763.44px;left:9295.05px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5013.44px;left:0px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5013.44px;left:590.27px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5013.44px;left:1480.87px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5013.44px;left:1670.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5013.44px;left:1971.21px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5013.44px;left:2421.65px;white-space:nowrap">market. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:0px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:540.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:840.5px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:1370.83px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:2171.43px;white-space:nowrap">open-market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:3231.91px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:3732.19px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:4682.72px;white-space:nowrap">program, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:5453px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:5753.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:6213.52px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:6603.57px;white-space:nowrap">purchase, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:7444.07px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:7854.08px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:8244.14px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:8444.27px;white-space:nowrap">time, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:8884.34px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:9344.62px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5443.44px;left:9934.89px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:0px;white-space:nowrap">open-market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:1060.49px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:2131px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:2331.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:2631.36px;white-space:nowrap">discretion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:3451.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:3651.86px;white-space:nowrap">management. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:4802.52px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:5302.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:5603.03px;white-space:nowrap">inception </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:6373.56px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:6573.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:6873.93px;white-space:nowrap">program, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:7644.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:7944.43px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:8404.72px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:8744.94px;white-space:nowrap">repurchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5693.44px;left:9795.59px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:0px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:390.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:590.36px;letter-spacing:-1.21px;white-space:nowrap">11,210,400 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:1527.89px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:2168.17px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:2748.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:3048.66px;white-space:nowrap">years&#160;ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:4089.38px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:4969.69px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:5269.92px;white-space:nowrap">2020 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:5720.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:6070.69px;white-space:nowrap">2019, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:6571.14px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:7031.43px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:7471.58px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:7721.81px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5943.44px;left:8312.08px;white-space:nowrap">repurchased.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6526.51px;left:0px;letter-spacing:-0.89px;white-space:nowrap">3. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6526.51px;left:210.36px;letter-spacing:-4.54px;white-space:nowrap">Transactions </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6526.51px;left:1447.72px;letter-spacing:-3.2px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6526.51px;left:1875.77px;text-rendering:optimizeLegibility;letter-spacing:-3.2px;white-space:nowrap">Affiliates</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:690.21px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:1650.59px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:1990.72px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:2170.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:2470.96px;white-space:nowrap">holding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:3101.48px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:3881.87px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:4141.93px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:4772.2px;white-space:nowrap">subsidiaries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:5772.66px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:6122.9px;white-space:nowrap">together </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:6833.41px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:7143.57px;white-space:nowrap">referred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:7823.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:8023.97px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:8264.09px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6894.24px;left:8951.04px;letter-spacing:-1.81px;white-space:nowrap">Templeton. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:0px;white-space:nowrap">Certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:630.26px;text-rendering:optimizeLegibility;white-space:nowrap">officers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:1260.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:1610.77px;white-space:nowrap">trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:2301.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:2501.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:2801.43px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:3261.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:3571.88px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:3952.09px;text-rendering:optimizeLegibility;white-space:nowrap">officers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:4582.27px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:5142.66px;white-space:nowrap">directors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:5882.87px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:6083px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:6383.23px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7144.24px;left:7133.64px;white-space:nowrap">subsidiaries: </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:8662.23px;left:0px;white-space:nowrap">a. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:8662.23px;left:211.25px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:8662.23px;left:1425.37px;white-space:nowrap">Fees</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:820.46px;white-space:nowrap">pays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:1250.68px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:1500.91px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:2421.3px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:3521.95px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:3822.19px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:4012.38px;white-space:nowrap">Advisers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:4752.6px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:5293.04px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:5543.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:5843.5px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:6543.98px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:6964.19px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:7264.42px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:7834.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:8034.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:8335.02px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:8795.3px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8992.7px;left:9035.42px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7617.66px;left:0px;white-space:nowrap">Subsidiary</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7617.66px;left:5040px;text-rendering:optimizeLegibility;white-space:nowrap">Affiliation</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7894.14px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7894.14px;left:604.69px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7894.14px;left:1307.11px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7894.14px;left:1609.45px;white-space:nowrap">(Advisers)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7894.14px;left:5040px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7894.14px;left:5867.03px;white-space:nowrap">manager</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.63px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.63px;left:610.63px;letter-spacing:-1.77px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.63px;left:1393.28px;white-space:nowrap">Services, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.63px;left:2095.7px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.63px;left:2433.67px;letter-spacing:-0.72px;white-space:nowrap">(FT </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.63px;left:2723.98px;white-space:nowrap">Services)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.63px;left:5040px;white-space:nowrap">Administrative </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8170.63px;left:6089.22px;white-space:nowrap">manager</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9466.11px;left:0px;white-space:nowrap">Annualized </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9466.11px;left:897.81px;white-space:nowrap">Fee </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9466.11px;left:1217.97px;white-space:nowrap">Rate</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9466.11px;left:5040px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9466.11px;left:5336.33px;white-space:nowrap">Assets</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9742.6px;left:0px;white-space:nowrap">0.700%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9742.6px;left:5040px;white-space:nowrap">Up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9742.6px;left:5288.98px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9742.6px;left:5466.88px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9742.6px;left:5778.28px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9742.6px;left:6454.3px;white-space:nowrap">$200 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9742.6px;left:6854.69px;white-space:nowrap">million</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10019.08px;left:0px;white-space:nowrap">0.635%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10019.08px;left:5040px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10019.08px;left:5431.17px;white-space:nowrap">$200 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10019.08px;left:5831.56px;white-space:nowrap">million, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10019.08px;left:6373.91px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10019.08px;left:6596.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10019.08px;left:6774.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10019.08px;left:7085.63px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10019.08px;left:7761.64px;white-space:nowrap">$700 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10019.08px;left:8162.03px;white-space:nowrap">million</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10295.57px;left:0px;white-space:nowrap">0.600%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10295.57px;left:5040px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10295.57px;left:5431.17px;white-space:nowrap">$700 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10295.57px;left:5831.56px;white-space:nowrap">million, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10295.57px;left:6373.91px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10295.57px;left:6596.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10295.57px;left:6774.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10295.57px;left:7085.63px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10295.57px;left:7761.64px;white-space:nowrap">$1 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10295.57px;left:7984.06px;white-space:nowrap">billion</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10572.05px;left:0px;white-space:nowrap">0.580%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10572.05px;left:5040px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10572.05px;left:5431.17px;white-space:nowrap">$1 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10572.05px;left:5653.59px;white-space:nowrap">billion, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10572.05px;left:6151.64px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10572.05px;left:6374.06px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10572.05px;left:6551.95px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10572.05px;left:6863.36px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10572.05px;left:7539.38px;white-space:nowrap">$5 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10572.05px;left:7761.8px;white-space:nowrap">billion</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10848.54px;left:0px;white-space:nowrap">0.560%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10848.54px;left:5040px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10848.54px;left:5431.17px;white-space:nowrap">$5 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10848.54px;left:5653.59px;white-space:nowrap">billion, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10848.54px;left:6151.64px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10848.54px;left:6374.06px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10848.54px;left:6551.95px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10848.54px;left:6863.36px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10848.54px;left:7539.38px;white-space:nowrap">$10 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10848.54px;left:7850.78px;white-space:nowrap">billion</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11125.02px;left:0px;white-space:nowrap">0.540%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11125.02px;left:5040px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11125.02px;left:5431.17px;white-space:nowrap">$10 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11125.02px;left:5742.58px;white-space:nowrap">billion, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11125.02px;left:6240.63px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11125.02px;left:6463.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11125.02px;left:6640.94px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11125.02px;left:6952.34px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11125.02px;left:7628.36px;white-space:nowrap">$15 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11125.02px;left:7939.77px;white-space:nowrap">billion</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11401.5px;left:0px;white-space:nowrap">0.520%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11401.5px;left:5040px;white-space:nowrap">Over </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11401.5px;left:5431.17px;white-space:nowrap">$15 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11401.5px;left:5742.58px;white-space:nowrap">billion, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11401.5px;left:6240.63px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11401.5px;left:6463.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11401.5px;left:6640.94px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11401.5px;left:6952.34px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11401.5px;left:7628.36px;white-space:nowrap">$20 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11401.5px;left:7939.77px;white-space:nowrap">billion</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11677.99px;left:0px;white-space:nowrap">0.500%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11677.99px;left:5040px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11677.99px;left:5217.89px;white-space:nowrap">excess </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11677.99px;left:5760.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11677.99px;left:5938.2px;white-space:nowrap">$20 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11677.99px;left:6249.61px;white-space:nowrap">billion</div></div>
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		<div style="height:67px;left:36px;position:absolute;top:121px;width:242px">
			<div style="width:4860px;height:1078px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-0.89px;white-space:nowrap">1. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.69px;white-space:nowrap">Organization </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1436.2px;letter-spacing:-3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1831.33px;text-rendering:optimizeLegibility;letter-spacing:-3.33px;white-space:nowrap">Significant </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:2857.74px;letter-spacing:-3.64px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:3969.21px;letter-spacing:-3.5px;white-space:nowrap">Policies</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:250.14px;left:0px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:0px;white-space:nowrap">f. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:168.85px;white-space:nowrap">Security </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:971.43px;letter-spacing:-0.75px;white-space:nowrap">Transactions, </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:2249.11px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:657.54px;left:3304.96px;white-space:nowrap">Income, </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:917.54px;left:0px;white-space:nowrap">Expenses </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:917.54px;left:939.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:917.54px;left:1330.56px;white-space:nowrap">Distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:942.94px;left:2554.98px;white-space:nowrap">(continued)</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:50px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:912px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:7461.73px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8019.91px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8272.39px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9109.27px;letter-spacing:8.88px;white-space:nowrap">Statements</div></div>
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			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">31</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:17px;left:189px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5653.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABBoAAATyCAYAAAAXy4KwAAAACXBIWXMAABcRAAAXEQHKJvM/AAAfSElEQVR4XuzbwW0TUQBF0ZRCCZSQElICpaQEllNOSqIDM4g13Cc5ozhwFmd3d0/f+h6Pn2632xMAAADAe8gAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMDq6TiOGwAAAMB78KABAAAAeDe/HjQ8A5d6GRqA/5nPSbifc/TxbPAY7PAA8r8VAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAAAAVhkAAAAArDIAAAAAWGUAAAAAsMoAAAAAYJUBAAAAwCoDAAAAgFUGAAAAAKsMAAAAAFYZAAAAAKwyAAAAAFhlAAAAALDKAAAAAGCVAQAAAMAqAwAAAIBVBgAAAACrDAAAAABWGQAAAACsMgAAAABYZQAAAACwygAAAABglQEAAADAKgMAAACAVQYAAAAAqwwAAA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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:320.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:620.24px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:1020.41px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:1570.96px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:2451.27px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:2751.5px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:3251.95px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:3552.19px;white-space:nowrap">gross </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:4042.35px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:4759.45px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:5679.84px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:6780.5px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:7080.73px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:7440.91px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:7811.02px;white-space:nowrap">0.645% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:8471.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:8671.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:748px;left:8971.88px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:0px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:700.49px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:1120.69px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:998px;left:1420.93px;white-space:nowrap">assets.&#160;</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1501.54px;left:0px;white-space:nowrap">b. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1501.54px;left:214.58px;white-space:nowrap">Administrative </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:1501.54px;left:1587.17px;white-space:nowrap">Fees</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:0px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:540.26px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:790.49px;white-space:nowrap">agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:1701.04px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:2061.21px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:2851.44px;letter-spacing:-1.08px;white-space:nowrap">FT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:3118.1px;white-space:nowrap">Services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:3858.31px;white-space:nowrap">provides </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:4588.68px;white-space:nowrap">administrative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:5749.1px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:6459.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:6659.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:6959.62px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:7466.66px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:7826.84px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:8127.07px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:8307.07px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:8697.39px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1832px;left:8927.58px;white-space:nowrap">Advisers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:0px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:540.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:790.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:1090.9px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:1675.55px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:2376.04px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:2796.24px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:3096.47px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:3716.72px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:4067.05px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:4247.05px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:4547.29px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:4797.51px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:5618.14px;white-space:nowrap">expense </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:6348.69px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:6548.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2082px;left:6849.05px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2585.54px;left:0px;white-space:nowrap">c. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2585.54px;left:211.25px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2585.54px;left:1372.77px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2585.54px;left:1587.35px;text-rendering:optimizeLegibility;white-space:nowrap">Affiliated </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2585.54px;left:2452.93px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2585.54px;left:3667.06px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:2585.54px;left:4722.91px;white-space:nowrap">Companies</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:820.46px;white-space:nowrap">invests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:1430.68px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:1620.79px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:1971.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:2181.18px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:2641.29px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:3361.73px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:4462.38px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:5382.77px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:6303.25px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:6563.32px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:7353.81px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:7814.09px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:8214.43px;white-space:nowrap">exercising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:9074.79px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2916px;left:9224.91px;white-space:nowrap">controlling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">influence </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:770.54px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:1170.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:1470.94px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:2571.59px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:2781.65px;white-space:nowrap">policies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:3481.96px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:4582.62px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:4972.85px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:5363.17px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:5603.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:5903.53px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:6363.81px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:6673.97px;white-space:nowrap">waived </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:7284.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:7534.51px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:8104.75px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:8825.19px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:9015.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3166px;left:9315.53px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:0px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:1100.65px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:2021.04px;white-space:nowrap">companies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:2991.53px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:3231.65px;white-space:nowrap">noted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:3732.1px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:3922.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:4222.44px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:5092.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:5293.04px;white-space:nowrap">Operations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:6273.54px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:6463.65px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:6713.88px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:7364.27px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:7664.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:7864.63px;white-space:nowrap">exceed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:8495.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3416px;left:8795.3px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:350.33px;white-space:nowrap">administrative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:1510.75px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:1900.99px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:2291.31px;white-space:nowrap">directly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:2911.46px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:3121.52px;white-space:nowrap">indirectly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:3881.78px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:4121.89px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:4562.23px;text-rendering:optimizeLegibility;white-space:nowrap">affiliate. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:5232.57px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:5812.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:6113.06px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:6513.22px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:7063.77px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:7944.08px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:8244.32px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:8744.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:9045px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3666px;left:9505.28px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3916px;left:0px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3916px;left:1010.39px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3916px;left:1200.5px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3916px;left:1920.94px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3916px;left:3021.59px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3916px;left:3941.98px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3916px;left:4862.46px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3916px;left:5102.58px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7146.71px;left:0px;letter-spacing:-0.89px;white-space:nowrap">4. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7146.71px;left:210.36px;letter-spacing:-3.5px;white-space:nowrap">Expense </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7146.71px;left:1056.59px;letter-spacing:-3.43px;white-space:nowrap">Offset </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7146.71px;left:1654.56px;letter-spacing:-3.64px;white-space:nowrap">Arrangement</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:820.46px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:1160.68px;white-space:nowrap">entered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:1821.18px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:2161.41px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:2411.63px;white-space:nowrap">arrangement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:3482.23px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:3852.33px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:4082.34px;white-space:nowrap">custodian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:4902.89px;white-space:nowrap">whereby </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:5633.26px;white-space:nowrap">credits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:6213.43px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:6893.79px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:7133.91px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:7284.02px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:7774.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:7974.32px;white-space:nowrap">uninvested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:8894.97px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7514.45px;left:9325.2px;white-space:nowrap">balances </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:0px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:310.17px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:750.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:950.63px;white-space:nowrap">reduce </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:1551.01px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:1701.12px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:2301.5px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:2501.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:2801.87px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:3388.89px;white-space:nowrap">custodian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:4209.43px;white-space:nowrap">expenses. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:5079.99px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:5660.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:5960.48px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:6360.64px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:6911.19px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:7791.5px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:8091.74px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:8592.19px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:9052.47px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7764.45px;left:9492.63px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8014.45px;left:0px;white-space:nowrap">credits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8014.45px;left:580.17px;white-space:nowrap">earned.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8597.51px;left:0px;letter-spacing:-0.89px;white-space:nowrap">5. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8597.51px;left:210.36px;letter-spacing:-3.43px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:8597.51px;left:938.13px;letter-spacing:-6.17px;white-space:nowrap">Taxes</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:320.01px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:610.14px;white-space:nowrap">purposes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:1450.63px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:2020.96px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:2581.17px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:2971.23px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:3221.46px;white-space:nowrap">carried </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:3821.66px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:4221.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:4421.95px;letter-spacing:-0.46px;white-space:nowrap">offset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:4908.96px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:5419.25px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8965.25px;left:5989.57px;white-space:nowrap">gains.&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9395.25px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9395.25px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9395.25px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9395.25px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9395.25px;left:1901.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9395.25px;left:2201.31px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9395.25px;left:2771.63px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9395.25px;left:3141.74px;white-space:nowrap">carryforwards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9395.25px;left:4281.94px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9395.25px;left:4722.1px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9395.25px;left:4962.22px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:320.01px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:610.14px;white-space:nowrap">purposes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:1450.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:1750.87px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:2211.15px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:2601.21px;white-space:nowrap">elect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:3031.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:3231.56px;white-space:nowrap">defer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:3691.85px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:4032.07px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:4632.45px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:4832.58px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:4982.7px;white-space:nowrap">post-October </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:6073.15px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:6643.48px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:7013.58px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:7223.64px;white-space:nowrap">late-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:7973.96px;white-space:nowrap">ordinary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:8674.28px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:9044.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:9244.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11057.18px;left:9544.75px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:0px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:340.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:540.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:840.59px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:1591px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:2051.1px;letter-spacing:-1.66px;white-space:nowrap">year. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:2481.42px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:2701.49px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:3581.81px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:3882.04px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:4382.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:4682.72px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:5143.01px;white-space:nowrap">deferred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:5863.45px;white-space:nowrap">late-year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:6613.77px;white-space:nowrap">ordinary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:7314.08px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:7874.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11307.18px;left:8074.42px;white-space:nowrap">$24,138,728.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:360.18px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:650.3px;white-space:nowrap">character </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:1450.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:1650.76px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:2661.24px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:3051.56px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:3601.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:3902.17px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:4392.33px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:4942.88px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:5823.19px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:6123.43px;white-space:nowrap">2020 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:6573.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:6924.2px;white-space:nowrap">2019, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:7424.65px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:7794.76px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11737.18px;left:8034.87px;white-space:nowrap">follows:</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4955px;left:1796.13px;white-space:nowrap">&#160;&#160;&#160;&#160;aa</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4571px;left:2599.98px;letter-spacing:-1.2px;white-space:nowrap">Value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4571px;left:2979.36px;white-space:nowrap">at</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4763px;left:2454.59px;white-space:nowrap">Beginning</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4955px;left:2660.69px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4955px;left:2818.73px;letter-spacing:-1.8px;white-space:nowrap">Year</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4955px;left:3512.33px;white-space:nowrap">Purchases</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4955px;left:4913.11px;white-space:nowrap">Sales</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4763px;left:5403.45px;white-space:nowrap">Realized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4763px;left:5972.28px;white-space:nowrap">Gain </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4955px;left:5870.41px;white-space:nowrap">(Loss)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4379px;left:6389.97px;white-space:nowrap">Net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4379px;left:6637.78px;white-space:nowrap">Change </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4379px;left:7155.36px;white-space:nowrap">in</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4571px;left:6608.48px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4763px;left:6470.12px;white-space:nowrap">Appreciation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4955px;left:6389.97px;white-space:nowrap">(Depreciation)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4571px;left:7865.11px;letter-spacing:-1.44px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4763px;left:7807.06px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4763px;left:7960.19px;white-space:nowrap">End</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4955px;left:7772.69px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4955px;left:7930.73px;letter-spacing:-1.8px;white-space:nowrap">Year</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4379px;left:8488.06px;white-space:nowrap">Number </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4379px;left:9020.17px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4571px;left:8385.64px;white-space:nowrap">Shares </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4571px;left:8859.7px;white-space:nowrap">Held </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4763px;left:8743.06px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4763px;left:8896.19px;white-space:nowrap">End</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4955px;left:8708.69px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4955px;left:8866.73px;letter-spacing:-1.8px;white-space:nowrap">Year</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4763px;left:9387.34px;white-space:nowrap">Investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:4955px;left:9620.63px;white-space:nowrap">Income</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5203.55px;left:0px;white-space:nowrap">a&#160;&#160;&#160;&#160;&#160;&#160;</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5203.55px;left:3091.44px;letter-spacing:-1.52px;white-space:nowrap">a&#160;&#160;</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5203.55px;left:4171.44px;letter-spacing:-1.14px;white-space:nowrap">a&#160;&#160; </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5203.55px;left:6259.44px;letter-spacing:-1.14px;white-space:nowrap">a&#160;&#160; </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5203.55px;left:7267.44px;letter-spacing:-1.14px;white-space:nowrap">a&#160;&#160; </div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5203.55px;left:8203.44px;letter-spacing:-1.52px;white-space:nowrap">a&#160;&#160;</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5203.55px;left:9139.44px;letter-spacing:-1.52px;white-space:nowrap">a&#160;&#160;</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:5203.55px;left:10075.44px;letter-spacing:-1.52px;white-space:nowrap">a&#160;&#160;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5302.76px;left:0px;letter-spacing:-0.96px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5302.76px;left:690.23px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5302.76px;left:1135.08px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5302.76px;left:1630.94px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5563.25px;left:0px;white-space:nowrap">Non-Controlled </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5563.25px;left:986.33px;text-rendering:optimizeLegibility;white-space:nowrap">Affiliates</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5791.73px;left:9503.91px;white-space:nowrap">Dividends</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6052.22px;left:0px;white-space:nowrap">Institutional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6052.22px;left:700.31px;white-space:nowrap">Fiduciary </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6052.22px;left:1266.8px;letter-spacing:-0.79px;white-space:nowrap">Trust </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6052.22px;left:1597.42px;white-space:nowrap">- </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6052.22px;left:1677.58px;white-space:nowrap">Money </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6244.22px;left:0px;white-space:nowrap">Market </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6244.22px;left:437.5px;white-space:nowrap">Portfolio, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6244.22px;left:991.8px;white-space:nowrap">0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6244.22px;left:1196.22px;letter-spacing:57.16px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6244.22px;left:2293.34px;white-space:nowrap">$226,097,663</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6244.22px;left:3373.34px;white-space:nowrap">$403,586,792</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6244.22px;left:4366px;white-space:nowrap">$(567,484,888)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6244.22px;left:6059.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6244.22px;left:7067.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6244.22px;left:7478.31px;white-space:nowrap">$62,199,567</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6244.22px;left:8440.28px;letter-spacing:0px;white-space:nowrap">62,199,567</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6244.22px;left:9532.73px;white-space:nowrap">$568,001</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6504.7px;left:0px;letter-spacing:-1.6px;white-space:nowrap">Total </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6504.7px;left:335.55px;text-rendering:optimizeLegibility;white-space:nowrap">Affiliated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6504.7px;left:933.28px;white-space:nowrap">Securities</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6504.7px;left:1623.44px;letter-spacing:67.41px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6504.7px;left:2293.34px;white-space:nowrap">$226,097,663</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6504.7px;left:3373.34px;white-space:nowrap">$403,586,792</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6504.7px;left:4366px;white-space:nowrap">$(567,484,888)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6504.7px;left:6059.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6504.7px;left:7067.86px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6504.7px;left:7478.31px;white-space:nowrap">$62,199,567</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6504.7px;left:9532.73px;white-space:nowrap">$568,001</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9860.66px;left:0px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9860.66px;left:542.5px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9860.66px;left:871.48px;white-space:nowrap">carryforwards </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9860.66px;left:1885px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9860.66px;left:2151.88px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9860.66px;left:2703.28px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9860.66px;left:2881.17px;white-space:nowrap">expiration:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10121.15px;left:144px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10121.15px;left:570.88px;white-space:nowrap">term</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10121.15px;left:934.13px;letter-spacing:49.46px;white-space:nowrap">................................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10121.15px;left:9291.09px;letter-spacing:-1.19px;white-space:nowrap">$6,911,695</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10381.63px;left:144px;white-space:nowrap">Long </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10381.63px;left:544.39px;white-space:nowrap">term</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10381.63px;left:934.13px;letter-spacing:49.46px;white-space:nowrap">................................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10381.63px;left:9279.22px;white-space:nowrap">59,967,064</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10642.12px;left:288px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10642.12px;left:670.42px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10642.12px;left:1177.38px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10642.12px;left:1506.36px;white-space:nowrap">carryforwards</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10642.12px;left:2522.15px;letter-spacing:49.59px;white-space:nowrap">...............................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10642.12px;left:9190.23px;white-space:nowrap">$66,878,759</div></div>
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			<div style="width:10080px;height:578px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-0.89px;white-space:nowrap">3. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-4.54px;white-space:nowrap">Transactions </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1447.72px;letter-spacing:-3.2px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1875.77px;text-rendering:optimizeLegibility;letter-spacing:-3.6px;white-space:nowrap">Affiliates</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:2725.65px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:417.54px;left:0px;white-space:nowrap">a. </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:417.54px;left:211.25px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:190px;font-weight:bold;position:absolute;top:417.54px;left:1425.37px;white-space:nowrap">Fees </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:442.94px;left:1911.23px;white-space:nowrap">(continued)</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:50px;left:36px;position:absolute;top:32px;width:503px">
			<div style="width:10080px;height:912px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:558.17px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:810.66px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:1647.53px;letter-spacing:8.88px;white-space:nowrap">Statements</div></div>
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		<div style="background-color:transparent;height:1px;left:36px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">32</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:405px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:17px;left:80px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div></div>
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		<div style="height:13px;left:72px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="width:10080px;height:866px;position:absolute;top:7.44px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

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		<div 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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:1901.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:2201.31px;white-space:nowrap">cost </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:2581.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:2781.56px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:3791.95px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:4142.29px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:4442.52px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:5323.1px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:6353.79px;white-space:nowrap">(depreciation) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:7504.37px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:7764.43px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:8394.7px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:8684.82px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2060.29px;left:9475.31px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2310.29px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2310.29px;left:240.12px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:0px;letter-spacing:-0.27px;white-space:nowrap">Differences </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:957.13px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:1687.68px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:2317.94px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:2878.33px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:3448.65px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:3928.97px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:4169.09px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:5119.63px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:5369.85px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:5519.97px;white-space:nowrap">book </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:5960.3px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:6430.52px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:6780.85px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:6930.97px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:7221.09px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:7691.31px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:8001.47px;white-space:nowrap">primarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:8731.49px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:9081.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4221.14px;left:9281.95px;letter-spacing:-0.33px;white-space:nowrap">differing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:0px;white-space:nowrap">treatments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:900.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:1100.48px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:1700.86px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:2441.07px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:3511.58px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:4081.9px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:4562.23px;white-space:nowrap">tax, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:4902.36px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:5352.8px;white-space:nowrap">discounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:6163.24px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:6513.57px;white-space:nowrap">premiums, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:7403.73px;white-space:nowrap">swaps, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:8013.96px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:8304.08px;white-space:nowrap">straddles </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:9084.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4471.14px;left:9434.79px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4721.14px;left:0px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4721.14px;left:600.38px;white-space:nowrap">adjustments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4721.14px;left:1620.88px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4721.14px;left:1871.1px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4721.14px;left:2471.48px;white-space:nowrap">securities.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5304.21px;left:0px;letter-spacing:-0.89px;white-space:nowrap">6. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5304.21px;left:210.36px;letter-spacing:-3.64px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:5304.21px;left:1277.79px;letter-spacing:-4.59px;white-space:nowrap">Transactions</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:0px;white-space:nowrap">Purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:900.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:1250.77px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:1720.99px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:1921.11px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:2931.5px;white-space:nowrap">(excluding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:3801.97px;white-space:nowrap">short </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:4252.15px;white-space:nowrap">term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:4662.16px;white-space:nowrap">securities) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:5532.36px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:5792.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:6092.67px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:6492.83px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:7043.38px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:7923.69px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:8223.93px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5671.94px;left:8724.38px;white-space:nowrap">aggregated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5921.94px;left:0px;white-space:nowrap">$235,579,890 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5921.94px;left:1151.1px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5921.94px;left:1501.44px;letter-spacing:-0.95px;white-space:nowrap">$263,429,411, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5921.94px;left:2689.19px;letter-spacing:-0.95px;white-space:nowrap">respectively. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6505.01px;left:0px;letter-spacing:-0.89px;white-space:nowrap">7. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:6505.01px;left:210.36px;letter-spacing:-3.33px;white-space:nowrap">Credit&#160;Risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:1901.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:2201.31px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:2661.59px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:3011.92px;white-space:nowrap">6.5% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:3472.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:3672.33px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:3902.34px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:4592.72px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:5313.16px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:5503.27px;white-space:nowrap">high </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:5893.59px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:6313.8px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:6523.86px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:6984.14px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:7794.4px;white-space:nowrap">rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:8254.69px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6872.74px;left:8775px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:0px;white-space:nowrap">grade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:510.38px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:860.71px;white-space:nowrap">unrated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:1521.21px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:2378.23px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:2928.52px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:3738.78px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:4128.84px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:4379.06px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:4839.17px;white-space:nowrap">sensitive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:5589.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:5789.62px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:6609.99px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:7470.53px;white-space:nowrap">causing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:8140.96px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:8761.29px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7122.74px;left:9201.45px;white-space:nowrap">volatility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:350.33px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:660.5px;white-space:nowrap">potentially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:1521.04px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:2141.37px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:2341.49px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:2491.61px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:3111.94px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:3441.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:3642.01px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:4012.12px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:4362.45px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:4562.58px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:5153.03px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:5553.37px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:6103.74px;white-space:nowrap">rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7372.74px;left:6564.02px;white-space:nowrap">securities.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7955.81px;left:0px;letter-spacing:-0.89px;white-space:nowrap">8. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7955.81px;left:210.36px;letter-spacing:-3.71px;white-space:nowrap">Concentration </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7955.81px;left:1565.5px;letter-spacing:-2.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7955.81px;left:1797.83px;letter-spacing:-2.4px;white-space:nowrap">Risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:0px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:1020.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:1210.52px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:1830.67px;white-space:nowrap">domiciled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:2641.03px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:2851.08px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:3221.19px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:4071.62px;white-space:nowrap">operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:4962.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:5152.32px;white-space:nowrap">developing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:6073.07px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:6283.13px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:7083.54px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:7683.66px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:8464.04px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:8854.1px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:9104.33px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8323.54px;left:9724.66px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:0px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:550.37px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:970.31px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:1370.65px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:2381.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:2571.15px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:3451.9px;white-space:nowrap">countries. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:4279.04px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:4829.33px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:5249.27px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:5869.69px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:6740.24px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:7480.46px;white-space:nowrap">values, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:8100.79px;white-space:nowrap">underdeveloped </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8573.54px;left:9441.91px;white-space:nowrap">legal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:210.06px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:970.49px;white-space:nowrap">systems, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:1730.57px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:2080.9px;white-space:nowrap">changing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:2861.54px;white-space:nowrap">local </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:3281.75px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:3632.08px;white-space:nowrap">regional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:4322.55px;white-space:nowrap">economic, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:5192.93px;white-space:nowrap">political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:5843.23px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:6193.56px;white-space:nowrap">social </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:6703.77px;white-space:nowrap">conditions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:7614.32px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:8124.52px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:8514.58px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:9004.75px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8823.54px;left:9194.85px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:600.12px;letter-spacing:-1.11px;white-space:nowrap">volatility. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:1326.97px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:1527.1px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:2257.65px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:2847.92px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:3448.3px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:4258.56px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:4648.62px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:4948.86px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:5199.08px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:5439.2px;white-space:nowrap">liquid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:5909.5px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:6149.62px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:6549.7px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:7409.97px;white-space:nowrap">Currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:8330.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:8530.4px;white-space:nowrap">developing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9073.54px;left:9451.14px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:0px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:800.42px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:1400.54px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:2180.92px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:2570.98px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:2821.2px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:3441.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:3641.66px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:4622.08px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:5242.41px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:5662.35px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:6062.7px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:6943.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:7143.13px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:8023.89px;white-space:nowrap">countries, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:8854.28px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9323.54px;left:9614.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9573.54px;left:0px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9573.54px;left:730.55px;white-space:nowrap">inability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9573.54px;left:1380.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9573.54px;left:1580.98px;white-space:nowrap">repatriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9573.54px;left:2391.42px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9573.54px;left:2881.76px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9573.54px;left:3762.07px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9573.54px;left:4102.29px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9573.54px;left:4502.37px;white-space:nowrap">dollars.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:1901.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:2201.31px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:2661.59px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:3011.92px;white-space:nowrap">1.8% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:3472.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:3672.33px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:3902.34px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:4202.58px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:4772.81px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:5863.62px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:6043.8px;white-space:nowrap">Argentine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:6864.35px;letter-spacing:-0.58px;white-space:nowrap">Pesos.&#160;Argentina </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:8275.25px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10003.54px;left:8615.48px;white-space:nowrap">restricted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:0px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:740.21px;white-space:nowrap">repatriation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:1690.75px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:2160.97px;white-space:nowrap">September </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:3091.46px;white-space:nowrap">2019, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:3591.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:3942.25px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:4292.58px;white-space:nowrap">restructured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:5302.97px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:5893.24px;white-space:nowrap">issues </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:6453.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:6653.58px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:6883.59px;white-space:nowrap">debt. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:7333.95px;white-space:nowrap">Political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:8004.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:8354.53px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10253.54px;left:9174.9px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10503.54px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10503.54px;left:180.18px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10503.54px;left:1000.72px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10503.54px;left:1481.04px;white-space:nowrap">continue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10503.54px;left:2211.59px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10503.54px;left:2411.72px;letter-spacing:-0.46px;white-space:nowrap">affect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10503.54px;left:2898.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10503.54px;left:3198.96px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10503.54px;left:3679.28px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10503.54px;left:3879.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10503.54px;left:4179.64px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10503.54px;left:4764.29px;white-space:nowrap">holdings.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:418.38px;left:7526.03px;white-space:nowrap">2020</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:418.38px;left:9110.03px;white-space:nowrap">2019</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:728.32px;left:0px;white-space:nowrap">Distributions </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:728.32px;left:924.77px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:728.32px;left:1271.72px;white-space:nowrap">from:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:988.8px;left:144px;white-space:nowrap">Ordinary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:988.8px;left:801.97px;white-space:nowrap">income</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:988.8px;left:1401.2px;letter-spacing:49.72px;white-space:nowrap">..........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:988.8px;left:7707.09px;letter-spacing:-1.19px;white-space:nowrap">$3,729,110</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:988.8px;left:9190.23px;white-space:nowrap">$54,932,033</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1249.29px;left:144px;white-space:nowrap">Return </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1249.29px;left:668.69px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1249.29px;left:846.58px;white-space:nowrap">capital</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1249.29px;left:1309.08px;letter-spacing:49.7px;white-space:nowrap">...........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1249.29px;left:7695.22px;white-space:nowrap">25,755,776</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1249.29px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1509.77px;left:7606.23px;white-space:nowrap">$29,484,886</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1509.77px;left:9190.23px;white-space:nowrap">$54,932,033</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2743.71px;left:0px;white-space:nowrap">Cost </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2743.71px;left:373.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2743.71px;left:551.33px;white-space:nowrap">investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2743.71px;left:1494.61px;letter-spacing:49.5px;white-space:nowrap">..........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2743.71px;left:9101.25px;white-space:nowrap">$871,919,302</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3149.65px;left:0px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3149.65px;left:809.3px;white-space:nowrap">appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3149.65px;left:1681.44px;letter-spacing:49.51px;white-space:nowrap">........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3149.65px;left:9190.23px;white-space:nowrap">$54,796,136</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3410.13px;left:0px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3410.13px;left:809.3px;white-space:nowrap">depreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3410.13px;left:1681.44px;letter-spacing:49.51px;white-space:nowrap">........................................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3410.13px;left:9083.67px;white-space:nowrap">(131,628,281)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3670.62px;left:0px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3670.62px;left:293.44px;white-space:nowrap">unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3670.62px;left:1076.17px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3670.62px;left:1992.34px;white-space:nowrap">(depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3670.62px;left:2989.22px;letter-spacing:49.65px;white-space:nowrap">..........................................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3670.62px;left:9083.67px;white-space:nowrap">$(76,832,145)</div></div>
		</div>
		<div style="height:22px;left:36px;position:absolute;top:121px;width:503px">
			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-0.89px;white-space:nowrap">5. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.43px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:938.13px;letter-spacing:-6.97px;white-space:nowrap">Taxes</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:1511.62px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:50px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:912px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:7461.73px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8019.91px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8272.39px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9109.27px;letter-spacing:8.88px;white-space:nowrap">Statements</div></div>
		</div>
		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">33</div></div>
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		<div style="background-color:transparent;height:1px;left:54px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-color:transparent;height:13px;left:527px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
		</div>
		<div style="height:17px;left:189px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5653.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:13px;left:514px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:51px;left:54px;position:absolute;top:74px;width:504px">
			<div style="width:10080px;height:866px;position:absolute;top:7.44px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			</div>
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		<div 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			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-2.67px;white-space:nowrap">9. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:210.36px;letter-spacing:-3.33px;white-space:nowrap">Novel </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:786.56px;letter-spacing:-3.67px;white-space:nowrap">Coronavirus </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1972.15px;letter-spacing:-4px;white-space:nowrap">Pandemic&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:360.18px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:890.6px;white-space:nowrap">outbreak </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1641.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1841.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2141.46px;white-space:nowrap">novel </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2621.78px;white-space:nowrap">coronavirus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3602.2px;white-space:nowrap">disease, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4322.64px;white-space:nowrap">known </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4892.96px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5133.08px;white-space:nowrap">COVID-19,&#160;has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6403.54px;white-space:nowrap">caused </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7033.97px;white-space:nowrap">adverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7724.36px;letter-spacing:-0.41px;white-space:nowrap">effects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8301.36px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8551.58px;white-space:nowrap">many </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:9041.75px;white-space:nowrap">companies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:0px;white-space:nowrap">sectors, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:680.19px;white-space:nowrap">nations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1360.63px;white-space:nowrap">regions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2001.01px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2351.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2651.57px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3341.69px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3531.8px;white-space:nowrap">general,&#160;and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4582.62px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4972.68px;white-space:nowrap">continue&#160;for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:5963.29px;white-space:nowrap">an&#160;unpredictable&#160;duration. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:8091.56px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:8451.74px;letter-spacing:-0.41px;white-space:nowrap">effects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:9028.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:9228.87px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:0px;white-space:nowrap">pandemic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:830.48px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:1220.54px;white-space:nowrap">materially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2040.73px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2620.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:2921.13px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:3401.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:3751.79px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:4812.28px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:5012.4px;white-space:nowrap">the&#160;Fund,&#160;its&#160;ability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:6563.14px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:6763.27px;white-space:nowrap">buy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:7103.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:7453.83px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:7773.93px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:8174.27px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844px;left:9184.66px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:0px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:960.64px;white-space:nowrap">valuations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:1821.18px;white-space:nowrap">and&#160;its&#160;ability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:2911.73px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:3111.86px;white-space:nowrap">achieve&#160;its&#160;investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094px;left:4932.69px;white-space:nowrap">objectives.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1677.07px;left:0px;letter-spacing:-1.2px;white-space:nowrap">10. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1677.07px;left:317.59px;letter-spacing:-3.33px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1677.07px;left:882.56px;letter-spacing:-3.64px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1677.07px;left:1850.28px;letter-spacing:-3.64px;white-space:nowrap">Information</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:1901.07px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:2911.46px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:3101.57px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:3921.94px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:4702.24px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:5012.4px;text-rendering:optimizeLegibility;white-space:nowrap">reflected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:5752.79px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:5942.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:6243.13px;white-space:nowrap">Statement&#160;of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:7303.8px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:7893.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:8244.32px;white-space:nowrap">Liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:9034.72px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2044.8px;left:9274.83px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:320.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:620.24px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:1020.41px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:1570.96px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:2451.27px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:2751.5px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:3251.95px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:3552.19px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:4039.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:4239.32px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:5059.69px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:5839.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:6030.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:6330.32px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:7200.79px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:7400.92px;white-space:nowrap">Operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:8331.42px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:8701.52px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5619.64px;left:8941.64px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:320.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:620.24px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:1020.41px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:1570.96px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:2451.27px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:2751.5px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:3251.95px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:3552.19px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:4252.68px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:4802.96px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:5153.29px;white-space:nowrap">notional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:5833.83px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:6484.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:6684.35px;white-space:nowrap">swap </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:7154.56px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:7934.85px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:8285.19px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10573.88px;left:8915.63px;white-space:nowrap">represented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:0px;white-space:nowrap">$22,847,231 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:1051px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:1401.33px;white-space:nowrap">$1,174,562,206, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:2752.56px;letter-spacing:-0.95px;white-space:nowrap">respectively. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:3786.33px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:4146.5px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:4846.99px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:5397.28px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:5747.61px;white-space:nowrap">contract </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:6437.9px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:6918.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:7118.35px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:7768.56px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:8599.22px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10823.88px;left:9379.51px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11073.88px;left:0px;white-space:nowrap">$943,379,536. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2553.9px;left:3508.93px;white-space:nowrap">Asset </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2553.9px;left:3989.16px;white-space:nowrap">Derivatives</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2553.9px;left:7456.55px;white-space:nowrap">Liability </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2553.9px;left:8105.54px;white-space:nowrap">Derivatives</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2814.39px;left:0px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2814.39px;left:809.38px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3006.39px;left:0px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3006.39px;left:305.08px;white-space:nowrap">Accounted </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3006.39px;left:1176.25px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3006.39px;left:1433.98px;white-space:nowrap">as</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3198.39px;left:0px;white-space:nowrap">Hedging </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3198.39px;left:684.38px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2814.39px;left:2304px;white-space:nowrap">Statement</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2814.39px;left:3121.97px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3006.39px;left:2304px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3006.39px;left:2873.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3006.39px;left:3202.13px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3198.39px;left:2304px;white-space:nowrap">Location</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3198.39px;left:5292.06px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3198.39px;left:5629.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2814.39px;left:6408px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2814.39px;left:7225.97px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3006.39px;left:6408px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3006.39px;left:6977.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3006.39px;left:7306.13px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3198.39px;left:6408px;white-space:nowrap">Location</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3198.39px;left:9324.06px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3198.39px;left:9661.95px;letter-spacing:-1.77px;white-space:nowrap">Value</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3514.15px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3514.15px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3514.15px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3514.15px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3774.64px;left:0px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3774.64px;left:586.95px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3774.64px;left:1325.31px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3774.64px;left:2055.09px;letter-spacing:55.52px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:2304px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:3211.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:3380.02px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:4144.7px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:4322.59px;white-space:nowrap">value</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:5247.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:5336.2px;white-space:nowrap">5,698,883</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:4006.33px;left:6048px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:6336px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:6931.86px;white-space:nowrap">written, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:7492.02px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:7669.91px;white-space:nowrap">value</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4035.12px;left:9368.2px;white-space:nowrap">6,601,172</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4295.6px;left:2304px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4295.6px;left:3113.3px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4295.6px;left:4029.47px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4295.6px;left:4251.89px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.6px;left:2448px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.6px;left:3025.97px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.6px;left:3764.33px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4295.6px;left:5336.2px;white-space:nowrap">6,775,024</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4295.6px;left:6336px;white-space:nowrap">Unrealized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4295.6px;left:7145.3px;white-space:nowrap">depreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4295.6px;left:8061.47px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4295.6px;left:8283.89px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.6px;left:6480px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.6px;left:7057.97px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4487.6px;left:7796.33px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4295.6px;left:9279.22px;white-space:nowrap">24,725,022</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4748.09px;left:0px;letter-spacing:-3.55px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4748.09px;left:373.65px;letter-spacing:49.62px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4748.09px;left:5158.23px;white-space:nowrap">$12,473,907</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4748.09px;left:9190.23px;white-space:nowrap">$31,326,194</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:5248.37px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:42.54px;white-space:nowrap">Purchased</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:706.29px;white-space:nowrap">option </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:1100.27px;white-space:nowrap">contracts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:1669.18px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:1895.27px;white-space:nowrap">included </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:2420.51px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:2559.1px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:3295.74px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:3434.34px;white-space:nowrap">securities, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:4061.52px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:4207.46px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:4557.62px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:4696.21px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:4915.12px;letter-spacing:0px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:5549.73px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:5688.48px;white-space:nowrap">Assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:6118.79px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5244.15px;left:6374.18px;white-space:nowrap">Liabilities.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6469.06px;left:0px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6469.06px;left:809.38px;white-space:nowrap">Contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6661.06px;left:0px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6661.06px;left:305.08px;white-space:nowrap">Accounted </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6661.06px;left:1176.25px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6661.06px;left:1433.98px;white-space:nowrap">as</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6853.06px;left:0px;white-space:nowrap">Hedging </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6853.06px;left:684.38px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6661.06px;left:2304px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6661.06px;left:3121.97px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6853.06px;left:2304px;white-space:nowrap">Operations </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6853.06px;left:3193.06px;white-space:nowrap">Location</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6469.06px;left:5096.59px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6469.06px;left:5398.86px;white-space:nowrap">Realized </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6661.06px;left:4910.19px;white-space:nowrap">Gain </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6661.06px;left:5310.27px;white-space:nowrap">(Loss) </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6661.06px;left:5834.72px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6853.06px;left:5428.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6853.06px;left:5709.88px;letter-spacing:-2.21px;white-space:nowrap">Year</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6661.06px;left:6336px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6661.06px;left:7153.97px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6853.06px;left:6336px;white-space:nowrap">Operations </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6853.06px;left:7225.06px;white-space:nowrap">Location</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6085.06px;left:9004.38px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6085.06px;left:9306.64px;white-space:nowrap">Change </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6085.06px;left:9937.81px;white-space:nowrap">in</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6277.06px;left:9270.86px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6469.06px;left:9102.11px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6661.06px;left:9004.3px;white-space:nowrap">(Depreciation)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6853.06px;left:9202.58px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6853.06px;left:9460.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6853.06px;left:9741.88px;letter-spacing:-2.21px;white-space:nowrap">Year</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7163px;left:2304px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7163px;left:2597.44px;white-space:nowrap">realized </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7163px;left:3202.2px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7163px;left:3549.16px;white-space:nowrap">(loss) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7163px;left:3984.7px;white-space:nowrap">from:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7163px;left:6336px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7163px;left:6629.44px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7163px;left:7198.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7163px;left:7367.8px;white-space:nowrap">unrealized</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7355px;left:6336px;white-space:nowrap">&#160;&#160;appreciation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7355px;left:7341.08px;white-space:nowrap">(depreciation) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7355px;left:8363.81px;white-space:nowrap">on:</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7615.48px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7615.48px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7615.48px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7615.48px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7875.97px;left:0px;white-space:nowrap">Interest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7875.97px;left:578.05px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7875.97px;left:898.2px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7875.97px;left:1588.02px;letter-spacing:50.83px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8136.45px;left:2304px;white-space:nowrap">Swap </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8136.45px;left:2748.69px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8136.45px;left:5051.67px;white-space:nowrap">$(45,140,012)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8136.45px;left:6336px;white-space:nowrap">Swap </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8136.45px;left:6780.69px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8136.45px;left:9190.23px;white-space:nowrap">$12,278,088</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8396.94px;left:0px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8396.94px;left:586.95px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8396.94px;left:1325.31px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8396.94px;left:2055.09px;letter-spacing:55.52px;white-space:nowrap">..</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8657.42px;left:2304px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8657.42px;left:5207.22px;letter-spacing:-1.19px;white-space:nowrap">15,298,115</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8660.63px;left:5996.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8657.42px;left:6336px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8657.42px;left:9299.98px;white-space:nowrap">1,595,754</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:8660.63px;left:10011.77px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.9px;left:2304px;letter-spacing:-0.36px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.9px;left:2852.28px;white-space:nowrap">options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.9px;left:5140.66px;white-space:nowrap">(10,094,089)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.9px;left:6336px;letter-spacing:-0.36px;white-space:nowrap">Written </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.9px;left:6884.28px;white-space:nowrap">options</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8917.9px;left:9261.64px;white-space:nowrap">(2,279,286)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9178.39px;left:2304px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9178.39px;left:2935.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9178.39px;left:3673.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9178.39px;left:5140.66px;white-space:nowrap">(16,797,600)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9178.39px;left:6336px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9178.39px;left:6967.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9178.39px;left:7705.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9178.39px;left:9261.64px;white-space:nowrap">(5,978,912)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9438.87px;left:0px;letter-spacing:-3.55px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9438.87px;left:373.65px;letter-spacing:49.62px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9438.87px;left:5051.67px;white-space:nowrap">$(56,733,586)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9438.87px;left:9236.97px;white-space:nowrap">$5,615,644</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:10010.61px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:42.54px;white-space:nowrap">Purchased</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:706.29px;white-space:nowrap">option </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:1100.27px;white-space:nowrap">contracts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:1669.18px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:1895.27px;white-space:nowrap">included </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:2420.51px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:2559.1px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:2778.01px;white-space:nowrap">realized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:3273.95px;white-space:nowrap">gain </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:3558.48px;white-space:nowrap">(loss) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:3915.67px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:4214.57px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:4951.21px;letter-spacing:0px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:5206.6px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:5425.51px;white-space:nowrap">change </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:5892.46px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:6031.06px;white-space:nowrap">unrealized </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:6672.93px;white-space:nowrap">appreciation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:7424.26px;white-space:nowrap">(depreciation) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:8262.93px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:8445.35px;white-space:nowrap">investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:9181.99px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10006.39px;left:9320.59px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10198.39px;left:0px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10198.39px;left:634.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10198.39px;left:780.55px;white-space:nowrap">Operations.</div></div>
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		<div style="height:50px;left:36px;position:absolute;top:32px;width:503px">
			<div style="width:10080px;height:912px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:558.17px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:810.66px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:1647.53px;letter-spacing:8.88px;white-space:nowrap">Statements</div></div>
		</div>
		<div style="background-color:transparent;height:1px;left:36px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">34</div></div>
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		<div style="background-color:transparent;height:13px;left:66px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:405px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:13px;left:72px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="width:10080px;height:866px;position:absolute;top:7.44px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

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		<div style="background-image:url(data:image/png;base64,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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1901.07px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2331.04px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3151.41px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3721.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4071.97px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4802.26px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5112.42px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5352.54px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:1901.07px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:2331.04px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:3151.41px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:3771.65px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:4281.86px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:4671.91px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:4922.14px;letter-spacing:-0.46px;white-space:nowrap">offset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:5409.14px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:6039.58px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:6469.54px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:7289.91px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:8020.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:8370.53px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3932.69px;left:9140.89px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4182.69px;left:0px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4182.69px;left:410.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4182.69px;left:710.24px;letter-spacing:-0.95px;white-space:nowrap">counterparty, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4182.69px;left:1797.45px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4182.69px;left:2107.62px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4182.69px;left:2347.73px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:809.42px;left:6865.16px;white-space:nowrap">Gross </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:809.42px;left:7366.09px;white-space:nowrap">Amounts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:809.42px;left:8103.83px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1001.42px;left:6332.89px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1001.42px;left:6902.11px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1001.42px;left:7231.02px;white-space:nowrap">Liabilities </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1001.42px;left:8013.44px;white-space:nowrap">Presented</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1193.42px;left:6002.66px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1193.42px;left:6189.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1193.42px;left:6473.75px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1193.42px;left:7291.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1193.42px;left:7481.25px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1193.42px;left:8050.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1193.42px;left:8379.38px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1497.59px;left:6011.68px;white-space:nowrap">Assets</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:1500.8px;left:6536.44px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1497.59px;left:8425.08px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:1500.8px;left:9163.05px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1889.03px;left:0px;white-space:nowrap">Derivatives</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2193.2px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2193.2px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2193.2px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2193.2px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2424.68px;left:144px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2424.68px;left:775.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2424.68px;left:1513.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2424.68px;left:2241.91px;letter-spacing:50.34px;white-space:nowrap">.............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2424.68px;left:6759.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2424.68px;left:6848.2px;white-space:nowrap">6,775,024</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2424.68px;left:9190.23px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2424.68px;left:9279.22px;white-space:nowrap">24,725,022</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.17px;left:144px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.17px;left:739.86px;white-space:nowrap">purchased</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.17px;left:1494.61px;letter-spacing:50.04px;white-space:nowrap">.....................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.17px;left:6848.2px;white-space:nowrap">5,698,883</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2627.17px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.65px;left:144px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.65px;left:739.86px;white-space:nowrap">written</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.65px;left:1214.37px;letter-spacing:49.96px;white-space:nowrap">........................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.65px;left:7400px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2829.65px;left:9368.2px;white-space:nowrap">6,601,172</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3061.14px;left:288px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3061.14px;left:747.3px;letter-spacing:49.85px;white-space:nowrap">.............................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3061.14px;left:6670.23px;white-space:nowrap">$12,473,907</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3061.14px;left:9190.23px;white-space:nowrap">$31,326,194</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:3561.42px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:42.54px;white-space:nowrap">Absent</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:487.54px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:669.96px;white-space:nowrap">event </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:1027.46px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:1173.4px;white-space:nowrap">default </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:1603.87px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:1756.99px;white-space:nowrap">early </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:2077.85px;white-space:nowrap">termination, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:2799.88px;white-space:nowrap">OTC </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:3113.32px;white-space:nowrap">derivative </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:3711.37px;white-space:nowrap">assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:4127.15px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:4382.54px;white-space:nowrap">liabilities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:4914.88px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:5140.98px;white-space:nowrap">presented </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:5761.06px;white-space:nowrap">gross </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:6118.4px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:6373.79px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:6592.7px;letter-spacing:-0.32px;white-space:nowrap">offset </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:6947.93px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:7086.52px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:7305.43px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:7940.04px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:8078.79px;white-space:nowrap">Assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:8509.1px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3557.2px;left:8764.49px;white-space:nowrap">Liabilities.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4648.11px;left:5704.95px;white-space:nowrap">Amounts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4648.11px;left:6442.68px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4648.11px;left:6753.7px;white-space:nowrap">Offset </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4648.11px;left:7260.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4648.11px;left:7447.05px;white-space:nowrap">the</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4840.11px;left:5374.2px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4840.11px;left:6192.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4840.11px;left:6381.7px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4840.11px;left:6950.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4840.11px;left:7279.83px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5100.59px;left:3857.58px;white-space:nowrap">Gross</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5292.59px;left:3431.25px;white-space:nowrap">Amounts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5292.59px;left:4168.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5484.59px;left:2790.47px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5484.59px;left:3359.69px;white-space:nowrap">Presented </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5484.59px;left:4177.81px;white-space:nowrap">in</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5676.59px;left:3066.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5676.59px;left:3351.02px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5676.59px;left:4168.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5868.59px;left:2683.91px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5868.59px;left:3253.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5868.59px;left:3582.03px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5292.59px;left:5066.48px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5484.59px;left:4844.3px;white-space:nowrap">Instruments </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5676.59px;left:4805.63px;letter-spacing:-0.59px;white-space:nowrap">Available </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5676.59px;left:5546.72px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5868.59px;left:5297.73px;white-space:nowrap">Offset</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5292.59px;left:6506.48px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5484.59px;left:6284.3px;white-space:nowrap">Instruments </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5676.59px;left:6470.86px;white-space:nowrap">Collateral </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5868.59px;left:6497.34px;white-space:nowrap">Received</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5484.59px;left:8248.75px;white-space:nowrap">Cash</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5676.59px;left:7910.86px;white-space:nowrap">Collateral</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5868.59px;left:7937.34px;white-space:nowrap">Received</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5484.59px;left:9179.38px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5484.59px;left:9475.7px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5676.59px;left:9404.3px;white-space:nowrap">(Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5676.59px;left:9768.59px;white-space:nowrap">less</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5868.59px;left:9315.55px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5868.59px;left:9697.73px;white-space:nowrap">zero)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6210.53px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6210.53px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6210.53px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6210.53px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6471.01px;left:0px;white-space:nowrap">Counterparty</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6731.5px;left:144px;letter-spacing:-0.72px;white-space:nowrap">BNDP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6731.5px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6731.5px;left:4071.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6731.5px;left:5511.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6731.5px;left:6951.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6731.5px;left:8391.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6731.5px;left:9831.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6991.98px;left:144px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6991.98px;left:467.07px;letter-spacing:50.97px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6991.98px;left:3608.2px;white-space:nowrap">4,146,493</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6991.98px;left:4941.64px;white-space:nowrap">(4,146,493)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6991.98px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6991.98px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6991.98px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7252.47px;left:144px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7252.47px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7252.47px;left:3608.2px;white-space:nowrap">2,129,028</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7252.47px;left:4941.64px;white-space:nowrap">(2,129,028)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7252.47px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7252.47px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7252.47px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7512.95px;left:144px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7512.95px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7512.95px;left:3741.64px;white-space:nowrap">719,586</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7512.95px;left:5075.08px;white-space:nowrap">(719,586)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7512.95px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7512.95px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7512.95px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7773.44px;left:144px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7773.44px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7773.44px;left:3608.2px;white-space:nowrap">1,061,405</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7773.44px;left:4941.64px;white-space:nowrap">(1,061,405)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7773.44px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7773.44px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7773.44px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8033.92px;left:144px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8033.92px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8033.92px;left:3608.2px;white-space:nowrap">2,701,930</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8033.92px;left:4941.64px;white-space:nowrap">(2,701,930)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8033.92px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8033.92px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8033.92px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8294.41px;left:144px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8294.41px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8294.41px;left:3608.2px;white-space:nowrap">1,597,523</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8294.41px;left:4941.64px;white-space:nowrap">(1,597,523)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8294.41px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8294.41px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8294.41px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8554.89px;left:144px;letter-spacing:-0.72px;white-space:nowrap">SCNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8554.89px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8554.89px;left:3830.63px;white-space:nowrap">59,200</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8554.89px;left:5164.06px;white-space:nowrap">(59,200)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8554.89px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8554.89px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8554.89px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8815.37px;left:144px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8815.37px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8815.37px;left:3830.63px;white-space:nowrap">58,742</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8815.37px;left:5164.06px;white-space:nowrap">(58,742)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8815.37px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8815.37px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8815.37px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.86px;left:288px;letter-spacing:-3.55px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.86px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.86px;left:3430.23px;white-space:nowrap">$12,473,907</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.86px;left:4763.67px;white-space:nowrap">$(12,473,907)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.86px;left:6951.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.86px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.86px;left:8391.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9075.86px;left:9831.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:10px;position:absolute;top:9511.86px;left:7338.44px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:10px;position:absolute;top:9511.86px;left:8562.44px;white-space:nowrap">1</div></div>
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			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

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		</div>
		<div style="background-image:url(data:image/png;base64,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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1901.07px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2331.04px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3151.41px;white-space:nowrap">liabilities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3931.7px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4441.9px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4831.96px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5082.19px;letter-spacing:-0.46px;white-space:nowrap">offset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5569.19px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6199.63px;white-space:nowrap">OTC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6629.59px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7449.96px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8020.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8370.53px;white-space:nowrap">collateral </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:9140.89px;white-space:nowrap">pledged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:9831.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:300.23px;letter-spacing:-0.95px;white-space:nowrap">counterparty, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1387.44px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1697.61px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1937.72px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.18px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.18px;left:370.28px;white-space:nowrap">Note </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.18px;left:800.51px;white-space:nowrap">1(c) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.18px;left:1160.51px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.18px;left:1971.04px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.18px;left:2791.41px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6878.18px;left:3501.83px;white-space:nowrap">instruments.&#160;</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.18px;left:0px;white-space:nowrap">See </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.18px;left:360.35px;white-space:nowrap">Abbreviations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.18px;left:1501px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.18px;left:1751.22px;white-space:nowrap">page </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.18px;left:2201.66px;white-space:nowrap">38</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.18px;left:2401.88px;white-space:nowrap">.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7891.25px;left:0px;letter-spacing:-2.3px;white-space:nowrap">11. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7891.25px;left:306.56px;letter-spacing:-3.2px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7891.25px;left:708.92px;letter-spacing:-5.17px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:7891.25px;left:1263.05px;letter-spacing:-3.38px;white-space:nowrap">Measurements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:820.46px;white-space:nowrap">follows </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:1420.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:1570.78px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:1870.84px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:2351.16px;white-space:nowrap">hierarchy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:3141.47px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:3491.72px;white-space:nowrap">distinguishes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:4582.35px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:5312.9px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:5913.02px;white-space:nowrap">data </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:6313.36px;white-space:nowrap">obtained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:7054.01px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:7464.02px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8258.98px;left:8505px;white-space:nowrap">sources </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:0px;white-space:nowrap">(observable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:990.53px;white-space:nowrap">inputs) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:1580.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:1931.13px;white-space:nowrap">the&#160;Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:2816.02px;white-space:nowrap">own </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:3196.23px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:3796.35px;white-space:nowrap">assumptions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:4856.84px;white-space:nowrap">(unobservable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:6047.58px;white-space:nowrap">inputs). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:6684.61px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:7234.89px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:7765.22px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:8075.39px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:8515.72px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:8705.83px;white-space:nowrap">determining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8508.98px;left:9696.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:480.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:680.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:980.68px;text-rendering:optimizeLegibility;white-space:nowrap">Fund&#39;s&#160;financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:2275.75px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:3256.08px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:3606.42px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:3916.58px;white-space:nowrap">summarized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:4946.84px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:5136.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:5437.18px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:6187.59px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:6487.65px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8758.98px;left:6967.97px;white-space:nowrap">hierarchy:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9188.98px;left:604.8px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9188.98px;left:1085.12px;white-space:nowrap">1 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9188.98px;left:1235.24px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9188.98px;left:1385.36px;white-space:nowrap">quoted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9188.98px;left:1985.91px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9188.98px;left:2516.07px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9188.98px;left:2706.18px;white-space:nowrap">active </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9188.98px;left:3226.4px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9188.98px;left:3916.52px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9188.98px;left:4176.59px;white-space:nowrap">identical </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9188.98px;left:4887.01px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9188.98px;left:5597.43px;white-space:nowrap">instruments</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:604.8px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:1085.12px;white-space:nowrap">2 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:1235.24px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:1385.36px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:1845.64px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:2696.07px;white-space:nowrap">observable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:3626.66px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:4156.99px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:4977.45px;white-space:nowrap">quoted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:5578px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:6108.16px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:6368.23px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:6938.2px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:7648.62px;white-space:nowrap">instruments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:8678.96px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9618.98px;left:9319.24px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9868.98px;left:604.8px;white-space:nowrap">prepayment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9868.98px;left:1605.35px;white-space:nowrap">speed, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9868.98px;left:2195.8px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9868.98px;left:2685.96px;white-space:nowrap">risk, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9868.98px;left:3065.91px;white-space:nowrap">etc.)</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:604.8px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:1085.12px;white-space:nowrap">3 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:1235.24px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:1385.36px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:2235.79px;white-space:nowrap">unobservable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:3366.59px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:3896.92px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:4717.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:5017.61px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:5602.26px;white-space:nowrap">own </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:5982.48px;white-space:nowrap">assumptions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:7042.96px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:7233.07px;white-space:nowrap">determining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:8223.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:8523.83px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:8823.89px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10298.98px;left:9304.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10548.98px;left:604.8px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10548.98px;left:1315.22px;white-space:nowrap">instruments)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1059.42px;left:5704.95px;white-space:nowrap">Amounts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1059.42px;left:6442.68px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1059.42px;left:6753.7px;white-space:nowrap">Offset </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1059.42px;left:7260.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1059.42px;left:7447.05px;white-space:nowrap">the</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1251.42px;left:5374.2px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1251.42px;left:6192.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1251.42px;left:6381.7px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1251.42px;left:6950.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1251.42px;left:7279.83px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1511.91px;left:3857.58px;white-space:nowrap">Gross</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1703.91px;left:3431.25px;white-space:nowrap">Amounts </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1703.91px;left:4168.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1895.91px;left:3582.03px;white-space:nowrap">Liabilities </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2087.91px;left:3359.69px;white-space:nowrap">Presented </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2087.91px;left:4177.81px;white-space:nowrap">in</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2279.91px;left:3066.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2279.91px;left:3351.02px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2279.91px;left:4168.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2471.91px;left:2683.91px;white-space:nowrap">Assets </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2471.91px;left:3253.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2471.91px;left:3582.03px;white-space:nowrap">Liabilities</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1895.91px;left:5066.48px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2087.91px;left:4844.3px;white-space:nowrap">Instruments </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2279.91px;left:4805.63px;letter-spacing:-0.59px;white-space:nowrap">Available </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2279.91px;left:5546.72px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2471.91px;left:5297.73px;white-space:nowrap">Offset</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1895.91px;left:6506.48px;white-space:nowrap">Financial</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2087.91px;left:6284.3px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2279.91px;left:6470.86px;white-space:nowrap">Collateral</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2471.91px;left:6525.78px;white-space:nowrap">Pledged</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2475.12px;left:7148.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2087.91px;left:8248.75px;white-space:nowrap">Cash</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2279.91px;left:7910.86px;white-space:nowrap">Collateral</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2471.91px;left:7965.78px;white-space:nowrap">Pledged</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:2475.12px;left:8588.12px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2087.91px;left:9179.38px;white-space:nowrap">Net </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2087.91px;left:9475.7px;white-space:nowrap">Amount </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2279.91px;left:9404.3px;white-space:nowrap">(Not </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2279.91px;left:9768.59px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2471.91px;left:9315.55px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2471.91px;left:9697.73px;white-space:nowrap">zero)</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2813.85px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2813.85px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2813.85px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2813.85px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3074.33px;left:0px;white-space:nowrap">Counterparty</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3334.81px;left:144px;letter-spacing:-0.72px;white-space:nowrap">BNDP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3334.81px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3334.81px;left:4053.05px;white-space:nowrap">261</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3334.81px;left:5600px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3334.81px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3334.81px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3334.81px;left:9813.05px;white-space:nowrap">261</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3595.3px;left:144px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3595.3px;left:467.07px;letter-spacing:50.97px;white-space:nowrap">.....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3595.3px;left:3531.09px;letter-spacing:-1.19px;white-space:nowrap">13,797,113</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3595.3px;left:4941.64px;white-space:nowrap">(4,146,493)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3595.3px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3595.3px;left:7821.64px;white-space:nowrap">(9,650,620)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3595.3px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3855.78px;left:144px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3855.78px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3855.78px;left:3608.2px;white-space:nowrap">2,300,364</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3855.78px;left:4941.64px;white-space:nowrap">(2,129,028)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3855.78px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3855.78px;left:7955.08px;white-space:nowrap">(171,336)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3855.78px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4116.27px;left:144px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4116.27px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4116.27px;left:3608.2px;white-space:nowrap">1,276,572</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4116.27px;left:5075.08px;white-space:nowrap">(719,586)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4116.27px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4116.27px;left:7955.08px;white-space:nowrap">(470,000)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4116.27px;left:9590.63px;white-space:nowrap">86,986</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4376.75px;left:144px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4376.75px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4376.75px;left:3620.08px;letter-spacing:-1.32px;white-space:nowrap">4,492,011</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4376.75px;left:4941.64px;white-space:nowrap">(1,061,405)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4376.75px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4376.75px;left:7821.64px;white-space:nowrap">(2,600,000)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4376.75px;left:9501.64px;white-space:nowrap">830,606</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4637.24px;left:144px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4637.24px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4637.24px;left:3608.2px;white-space:nowrap">4,601,380</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4637.24px;left:4941.64px;white-space:nowrap">(2,701,930)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4637.24px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4637.24px;left:7821.64px;white-space:nowrap">(1,899,450)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4637.24px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.72px;left:144px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.72px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.72px;left:3608.2px;white-space:nowrap">3,804,954</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.72px;left:4941.64px;white-space:nowrap">(1,597,523)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.72px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.72px;left:7821.64px;white-space:nowrap">(2,207,431)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4897.72px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5158.21px;left:144px;letter-spacing:-0.72px;white-space:nowrap">SCNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5158.21px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5158.21px;left:3741.64px;white-space:nowrap">891,149</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5158.21px;left:5164.06px;white-space:nowrap">(59,200)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5158.21px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5158.21px;left:7955.08px;white-space:nowrap">(831,949)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5158.21px;left:9920px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.69px;left:144px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.69px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.69px;left:3741.64px;white-space:nowrap">162,390</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.69px;left:5164.06px;white-space:nowrap">(58,742)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.69px;left:7040px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.69px;left:8480px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5418.69px;left:9501.64px;white-space:nowrap">103,648</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5679.17px;left:288px;letter-spacing:-3.55px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5679.17px;left:653.89px;letter-spacing:51.19px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5679.17px;left:3430.23px;white-space:nowrap">$31,326,194</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5679.17px;left:4763.67px;white-space:nowrap">$(12,473,907)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5679.17px;left:6951.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5679.17px;left:7643.67px;white-space:nowrap">$(17,830,786)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5679.17px;left:9279.22px;white-space:nowrap">$1,021,501</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:6314.91px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:42.54px;white-space:nowrap">In</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:188.48px;white-space:nowrap">some </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:545.82px;white-space:nowrap">instances, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:1173.17px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:1392.07px;white-space:nowrap">collateral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:1953.63px;white-space:nowrap">amounts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:2493.4px;white-space:nowrap">disclosed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:3076.92px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:3215.51px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:3434.42px;white-space:nowrap">table </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:3755.43px;white-space:nowrap">above </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:4149.42px;white-space:nowrap">were </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:4470.2px;white-space:nowrap">adjusted </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:5002.77px;letter-spacing:0px;white-space:nowrap">due </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:5258.17px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:5404.1px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:5623.01px;white-space:nowrap">requirement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:6359.57px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:6505.51px;white-space:nowrap">limit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:6775.2px;white-space:nowrap">collateral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:7336.76px;white-space:nowrap">amounts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:7876.52px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:8022.46px;white-space:nowrap">avoid </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:8372.62px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:8591.52px;letter-spacing:-0.32px;white-space:nowrap">effect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6310.69px;left:8946.76px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:0px;white-space:nowrap">overcollateralization. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:1225.39px;white-space:nowrap">Actual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:1626.56px;white-space:nowrap">collateral </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:2188.13px;white-space:nowrap">received </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:2720.55px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:3129.06px;white-space:nowrap">pledged </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:3632.5px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:3916.88px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:4099.3px;white-space:nowrap">more </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:4434.69px;white-space:nowrap">than </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:4726.56px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:4945.47px;white-space:nowrap">amounts </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:5485.23px;white-space:nowrap">disclosed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6502.69px;left:6068.75px;white-space:nowrap">herein.</div></div>
		</div>
		<div style="height:22px;left:54px;position:absolute;top:121px;width:504px">
			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-1.2px;white-space:nowrap">10. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:317.59px;letter-spacing:-3.33px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:882.56px;letter-spacing:-3.64px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1850.28px;letter-spacing:-4px;white-space:nowrap">Information</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:2947.43px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:360.18px;white-space:nowrap">input </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:800.51px;white-space:nowrap">levels </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1310.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1620.88px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1921.11px;white-space:nowrap">necessarily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2871.47px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3121.7px;white-space:nowrap">indication </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3932.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4132.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4432.59px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4762.53px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4972.59px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5622.89px;white-space:nowrap">associated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6533.44px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6903.54px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7613.96px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8594.3px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8794.42px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:9144.67px;white-space:nowrap">level.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:0px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:160.14px;white-space:nowrap">summary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:950.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:1150.31px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:1680.64px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:2120.98px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:2361.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:2561.22px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:3441.53px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:3741.77px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:4242.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:4432.32px;white-space:nowrap">valuing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:5052.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:5352.98px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:5937.63px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:6507.86px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:6858.19px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:7588.48px;white-space:nowrap">carried </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:8188.68px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:8388.81px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:8688.87px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:9219.2px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:774px;left:9399.2px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1024px;left:0px;white-space:nowrap">follows: </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1501.1px;left:4785.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1501.1px;left:5239.02px;white-space:nowrap">1</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1501.1px;left:6369.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1501.1px;left:6823.02px;white-space:nowrap">2</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1501.1px;left:7953.42px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1501.1px;left:8407.02px;white-space:nowrap">3</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1501.1px;left:9709.69px;letter-spacing:-2.37px;white-space:nowrap">Total</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1860.55px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1860.55px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1860.55px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1860.55px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2100.72px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.88px;left:144px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.88px;left:1051.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2340.88px;left:1220.02px;white-space:nowrap">Securities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2537.37px;left:288px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2537.37px;left:874.95px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2537.37px;left:1799.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2537.37px;left:2102.38px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2537.37px;left:2680.5px;white-space:nowrap">Securities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2537.37px;left:3383px;white-space:nowrap">:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2733.85px;left:432px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2733.85px;left:1214.37px;letter-spacing:49.29px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2733.85px;left:5079.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2733.85px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2733.85px;left:6663.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2733.85px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2733.85px;left:7606.23px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2733.85px;left:7695.22px;white-space:nowrap">13,615,735</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2733.85px;left:9190.23px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2733.85px;left:9279.22px;white-space:nowrap">13,615,735</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2930.33px;left:432px;white-space:nowrap">Brazil </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2930.33px;left:934.13px;letter-spacing:49.25px;white-space:nowrap">...............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2930.33px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2930.33px;left:6111.22px;white-space:nowrap">14,291,300</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2930.33px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2930.33px;left:9279.22px;white-space:nowrap">14,291,300</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3126.82px;left:432px;white-space:nowrap">Colombia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3126.82px;left:1214.37px;letter-spacing:49.29px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3126.82px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3126.82px;left:6111.22px;white-space:nowrap">13,931,748</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3126.82px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3126.82px;left:9279.22px;white-space:nowrap">13,931,748</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3323.3px;left:432px;white-space:nowrap">Ghana </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3323.3px;left:1027.54px;letter-spacing:49.26px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3323.3px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3323.3px;left:6123.09px;letter-spacing:-1.19px;white-space:nowrap">11,713,297</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3323.3px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3323.3px;left:9291.09px;letter-spacing:-1.19px;white-space:nowrap">11,713,297</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3519.79px;left:432px;white-space:nowrap">India </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3519.79px;left:840.72px;letter-spacing:49.24px;white-space:nowrap">................................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3519.79px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3519.79px;left:6111.22px;white-space:nowrap">20,517,563</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3519.79px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3519.79px;left:9279.22px;white-space:nowrap">20,517,563</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3716.27px;left:432px;white-space:nowrap">Indonesia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3716.27px;left:1214.37px;letter-spacing:49.29px;white-space:nowrap">............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3716.27px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3716.27px;left:6111.22px;white-space:nowrap">39,338,644</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3716.27px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3716.27px;left:9279.22px;white-space:nowrap">39,338,644</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3912.76px;left:432px;white-space:nowrap">Mexico </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3912.76px;left:1027.54px;letter-spacing:49.26px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3912.76px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3912.76px;left:6034.11px;letter-spacing:-1.08px;white-space:nowrap">113,574,225</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3912.76px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3912.76px;left:9202.11px;letter-spacing:-1.08px;white-space:nowrap">113,574,225</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4109.24px;left:432px;white-space:nowrap">Norway </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4109.24px;left:1027.54px;letter-spacing:49.26px;white-space:nowrap">..............................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4109.24px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4109.24px;left:6111.22px;white-space:nowrap">36,461,900</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4109.24px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4109.24px;left:9279.22px;white-space:nowrap">36,461,900</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4305.72px;left:432px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4305.72px;left:894.58px;white-space:nowrap">Korea </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4305.72px;left:1401.2px;letter-spacing:49.31px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4305.72px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4305.72px;left:6022.23px;white-space:nowrap">139,151,875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4305.72px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4305.72px;left:9190.23px;white-space:nowrap">139,151,875</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4502.21px;left:432px;white-space:nowrap">Supranational </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4502.21px;left:1494.61px;letter-spacing:49.32px;white-space:nowrap">.........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4502.21px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4502.21px;left:6111.22px;white-space:nowrap">10,125,224</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4502.21px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4502.21px;left:9279.22px;white-space:nowrap">10,125,224</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4698.69px;left:288px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4698.69px;left:643.63px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4698.69px;left:1568.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4698.69px;left:1871.05px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4698.69px;left:2449.17px;white-space:nowrap">Securities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4698.69px;left:3176.05px;letter-spacing:50.26px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4698.69px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4698.69px;left:6022.23px;white-space:nowrap">137,696,030</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4698.69px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4698.69px;left:9190.23px;white-space:nowrap">137,696,030</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4895.18px;left:288px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4895.18px;left:883.86px;white-space:nowrap">purchased</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4895.18px;left:1681.44px;letter-spacing:49.36px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4895.18px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4895.18px;left:6200.2px;white-space:nowrap">5,698,883</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4895.18px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4895.18px;left:9368.2px;white-space:nowrap">5,698,883</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5091.66px;left:288px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5091.66px;left:711.98px;letter-spacing:-3.55px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5091.66px;left:1111.98px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5091.66px;left:2055.09px;letter-spacing:49.44px;white-space:nowrap">...................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5091.66px;left:4438.23px;white-space:nowrap">163,149,948</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5091.66px;left:6111.22px;white-space:nowrap">99,503,325</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5091.66px;left:7917.64px;white-space:nowrap">868,631</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5091.66px;left:9190.23px;white-space:nowrap">263,521,904</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5288.15px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5288.15px;left:958.42px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5288.15px;left:1865.45px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5288.15px;left:2034.44px;white-space:nowrap">Securities</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5288.15px;left:2802.39px;letter-spacing:49.79px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5288.15px;left:4349.25px;white-space:nowrap">$163,149,948</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5288.15px;left:5933.25px;white-space:nowrap">$642,004,014</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5288.15px;left:7606.23px;white-space:nowrap">$14,484,366</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5288.15px;left:9101.25px;white-space:nowrap">$819,638,328</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5609.77px;left:144px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5609.77px;left:588.61px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5609.77px;left:1273.38px;white-space:nowrap">Instruments:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5806.25px;left:288px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5806.25px;left:919.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5806.25px;left:1657.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5806.25px;left:2428.74px;letter-spacing:49.57px;white-space:nowrap">...............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5806.25px;left:5079.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5806.25px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5806.25px;left:6111.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5806.25px;left:6200.2px;white-space:nowrap">6,775,024</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5806.25px;left:8247.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5806.25px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5806.25px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5806.25px;left:9368.2px;white-space:nowrap">6,775,024</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6002.74px;left:288px;white-space:nowrap">Restricted </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6002.74px;left:1052.69px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6002.74px;left:1746.2px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6002.74px;left:2241.91px;letter-spacing:49.5px;white-space:nowrap">.................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6002.74px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6002.74px;left:6752px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6002.74px;left:8095.61px;white-space:nowrap">2,838</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6002.74px;left:9679.61px;white-space:nowrap">2,838</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6199.22px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6199.22px;left:958.42px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6199.22px;left:1403.03px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6199.22px;left:2087.8px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6199.22px;left:2989.22px;letter-spacing:49.97px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6199.22px;left:5079.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6199.22px;left:6111.22px;white-space:nowrap">$6,775,024</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6199.22px;left:8006.62px;white-space:nowrap">$2,838</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6199.22px;left:9279.22px;white-space:nowrap">$6,777,862</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6520.84px;left:144px;white-space:nowrap">Receivables:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6717.33px;left:288px;white-space:nowrap">Interest </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6717.33px;left:866.05px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6717.33px;left:1307.78px;letter-spacing:49.3px;white-space:nowrap">...........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6717.33px;left:5079.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6717.33px;left:6663.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6717.33px;left:7828.66px;white-space:nowrap">$304,677</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6717.33px;left:9412.66px;white-space:nowrap">$304,677</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7038.95px;left:0px;white-space:nowrap">Liabilities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7279.12px;left:144px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7279.12px;left:588.61px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7279.12px;left:1273.38px;white-space:nowrap">Instruments:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7475.6px;left:288px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7475.6px;left:883.86px;white-space:nowrap">written</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7475.6px;left:1401.2px;letter-spacing:49.31px;white-space:nowrap">..........................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7475.6px;left:5079.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7475.6px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7475.6px;left:6111.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7475.6px;left:6200.2px;white-space:nowrap">6,601,172</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7475.6px;left:8247.02px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7475.6px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7475.6px;left:9279.22px;white-space:nowrap">$</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7475.6px;left:9368.2px;white-space:nowrap">6,601,172</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7672.09px;left:288px;white-space:nowrap">Forward </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7672.09px;left:919.25px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7672.09px;left:1657.61px;white-space:nowrap">contracts</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7672.09px;left:2335.33px;letter-spacing:49.53px;white-space:nowrap">................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7672.09px;left:5168px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7672.09px;left:6111.22px;white-space:nowrap">24,725,022</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7672.09px;left:8336px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7672.09px;left:9279.22px;white-space:nowrap">24,725,022</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.57px;left:576px;letter-spacing:-2.96px;white-space:nowrap">Total </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.57px;left:958.42px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.57px;left:1403.03px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.57px;left:2087.8px;white-space:nowrap">Instruments</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.57px;left:2989.22px;letter-spacing:49.97px;white-space:nowrap">.........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.57px;left:5079.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.57px;left:6022.23px;white-space:nowrap">$31,326,194</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.57px;left:8247.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7868.57px;left:9190.23px;white-space:nowrap">$31,326,194</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8190.19px;left:144px;white-space:nowrap">Payables:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8386.68px;left:288px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8386.68px;left:1115.03px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8386.68px;left:1861.98px;white-space:nowrap">Purchased </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8386.68px;left:2671.36px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8386.68px;left:3176.05px;letter-spacing:50.26px;white-space:nowrap">.......</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8386.68px;left:5079.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8386.68px;left:6663.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8386.68px;left:7828.66px;white-space:nowrap">$129,991</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8386.68px;left:9412.66px;white-space:nowrap">$129,991</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8583.16px;left:288px;white-space:nowrap">Deferred </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8583.16px;left:952.06px;letter-spacing:-2.22px;white-space:nowrap">Tax(ARS)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8583.16px;left:1681.44px;letter-spacing:49.36px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8583.16px;left:5079.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8583.16px;left:6663.02px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8583.16px;left:8140.06px;white-space:nowrap">$779</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8583.16px;left:9724.06px;white-space:nowrap">$779</div></div>
		</div>
		<div style="height:22px;left:36px;position:absolute;top:121px;width:503px">
			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-2.3px;white-space:nowrap">11. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:306.56px;letter-spacing:-3.2px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:708.92px;letter-spacing:-5.17px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1263.05px;letter-spacing:-3.69px;white-space:nowrap">Measurements </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:2708.45px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:50px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:912px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:7461.73px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8019.91px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8272.39px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9109.27px;letter-spacing:8.88px;white-space:nowrap">Statements</div></div>
		</div>
		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">37</div></div>
		</div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:0px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:160.14px;white-space:nowrap">reconciliation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1260.7px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1450.81px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:1961.02px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2441.34px;white-space:nowrap">3 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:2591.46px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3121.79px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3431.95px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:3872.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:4062.39px;white-space:nowrap">determining </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5052.92px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5352.98px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:5833.3px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6013.3px;white-space:nowrap">presented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:6863.91px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7344.23px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:7804.51px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8114.68px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:8965.11px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344px;left:9445.43px;white-space:nowrap">3 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:0px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:570.23px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1130.63px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:1860.91px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2061.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:2361.27px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3192.01px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:3752.4px;white-space:nowrap">end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4102.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4302.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:4603.1px;letter-spacing:-0.99px;white-space:nowrap">year. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:5033.41px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:5253.49px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:6133.8px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:6434.03px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:6934.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:7234.72px;white-space:nowrap">reconciliation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:8335.28px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:8515.28px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594px;left:8755.4px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">Significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:880.49px;white-space:nowrap">unobservable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:2011.29px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:2781.83px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:3312.16px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:3572.23px;white-space:nowrap">material </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:4262.43px;white-space:nowrap">Level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:4742.75px;white-space:nowrap">3&#160;assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:5463.11px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:6023.5px;white-space:nowrap">liabilities&#160;and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:7104.11px;white-space:nowrap">impact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:7684.28px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:7884.4px;white-space:nowrap">fair </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:8184.46px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:8664.79px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:8904.9px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:9055.02px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6684.8px;left:9545.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:0px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:730.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:920.65px;white-space:nowrap">unobservable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:2051.46px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:2821.99px;white-space:nowrap">inputs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:3352.32px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:3592.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:3792.57px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:4672.88px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:4973.12px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:5473.56px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:5783.73px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6934.8px;left:6023.85px;white-space:nowrap">follows: </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1746.34px;left:2047.69px;white-space:nowrap">Balance </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1746.34px;left:2553.65px;white-space:nowrap">at</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1926.34px;left:1911.39px;white-space:nowrap">Beginning </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1926.34px;left:2546.91px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:2403.06px;letter-spacing:-1.68px;white-space:nowrap">Year</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:2832.81px;white-space:nowrap">Purchases</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:3968.54px;white-space:nowrap">Sales</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1746.34px;left:4639.62px;letter-spacing:-0.84px;white-space:nowrap">Transfer</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1926.34px;left:4899.56px;white-space:nowrap">Into</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:4707.81px;white-space:nowrap">Level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:5056.59px;white-space:nowrap">3</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1746.34px;left:5474.62px;letter-spacing:-0.84px;white-space:nowrap">Transfer</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1926.34px;left:5597.89px;white-space:nowrap">Out </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1926.34px;left:5843.91px;white-space:nowrap">of</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:5542.81px;white-space:nowrap">Level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:5891.59px;white-space:nowrap">3</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1746.34px;left:6116.33px;white-space:nowrap">Cost </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1746.34px;left:6423.8px;white-space:nowrap">Basis</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1926.34px;left:6328.44px;white-space:nowrap">Adjust-</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:6349.86px;white-space:nowrap">ments</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:87.4px;font-weight:bold;position:absolute;top:2110.29px;left:6712.12px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1566.34px;left:7388.88px;white-space:nowrap">Net</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1746.34px;left:7087.93px;white-space:nowrap">Realized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1926.34px;left:7313.51px;white-space:nowrap">Gain</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:7218.01px;white-space:nowrap">(Loss)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1566.34px;left:8223.88px;white-space:nowrap">Net</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1746.34px;left:7799.95px;white-space:nowrap">Unr</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1746.34px;left:8011.7px;white-space:nowrap">ealized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1926.34px;left:7670.24px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:7595.1px;white-space:nowrap">(Depreciation)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1746.34px;left:8785.25px;white-space:nowrap">Balance</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1926.34px;left:8881.12px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1926.34px;left:9024.68px;white-space:nowrap">End</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:8848.89px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:8997.06px;letter-spacing:-1.68px;white-space:nowrap">Year</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1026.34px;left:9265.1px;white-space:nowrap">Net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1026.34px;left:9497.42px;white-space:nowrap">Change </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1026.34px;left:9982.65px;white-space:nowrap">in</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1206.34px;left:9469.95px;white-space:nowrap">Unrealized</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1386.34px;left:9340.24px;white-space:nowrap">Appreciation</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1566.34px;left:9265.1px;white-space:nowrap">(Depreciation)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1746.34px;left:9508.63px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1746.34px;left:9688.66px;white-space:nowrap">Assets</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1926.34px;left:9681.92px;white-space:nowrap">Held </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:1926.34px;left:9982.65px;white-space:nowrap">at</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:9565.54px;letter-spacing:-1.68px;white-space:nowrap">Year</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2106.34px;left:9859.68px;white-space:nowrap">End</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2346.27px;left:1809.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2346.27px;left:2658.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2346.27px;left:3450.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2346.27px;left:4285.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2346.27px;left:5120.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2346.27px;left:5955.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2346.27px;left:6747.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2346.27px;left:7582.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2346.27px;left:8417.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2346.27px;left:9252.44px;white-space:nowrap">a</div><div style="color:#ffffff;font-family:Arial, Helvetica, sans-serif;font-size:10px;font-weight:bold;position:absolute;top:2346.27px;left:10087.44px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2415.91px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2415.91px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2415.91px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2415.91px;left:1988.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:2611.31px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:2800.51px;left:144px;white-space:nowrap">Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:2800.51px;left:841.49px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:2800.51px;left:971.42px;white-space:nowrap">Securities:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:2989.71px;left:288px;white-space:nowrap">Foreign </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:2989.71px;left:739.25px;white-space:nowrap">Government </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:2989.71px;left:1450.35px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3169.71px;left:432px;white-space:nowrap">Agency </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3169.71px;left:876.51px;white-space:nowrap">Securities</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3169.71px;left:1416.59px;white-space:nowrap">:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:432px;white-space:nowrap">Argentina</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:999.05px;letter-spacing:50.9px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:1987.93px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:2056.33px;letter-spacing:-0.9px;white-space:nowrap">11,284,002</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:2839.33px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:2907.73px;white-space:nowrap">8,662,074</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:3592.44px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:3660.85px;white-space:nowrap">(3,195,616)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:4933.62px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:5002.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:5768.62px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:5837.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:6136.33px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:6204.73px;white-space:nowrap">2,417,490</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:6889.44px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:6957.85px;white-space:nowrap">(5,850,282)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:7908.94px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:7977.35px;white-space:nowrap">298,067</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:8572.92px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:8641.33px;white-space:nowrap">13,615,735</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:9394.44px;white-space:nowrap">$</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3358.92px;left:9462.85px;white-space:nowrap">(2,104,894)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:288px;white-space:nowrap">Short </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:614.07px;letter-spacing:-2.72px;white-space:nowrap">Term </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:921.62px;white-space:nowrap">Investments</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:1665.08px;letter-spacing:65.66px;white-space:nowrap">.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:2115.73px;white-space:nowrap">1,095,225</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:3010.35px;white-space:nowrap">906,285</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:3763.46px;white-space:nowrap">(695,728)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:5002.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:5837.03px;white-space:nowrap">&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:6307.35px;white-space:nowrap">127,149</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:7060.46px;white-space:nowrap">(264,535)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:7895.46px;white-space:nowrap">(299,765)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:8812.35px;white-space:nowrap">868,631</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3548.12px;left:9715.75px;white-space:nowrap">25,232</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:0px;letter-spacing:-2.27px;white-space:nowrap">Total </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:294.07px;white-space:nowrap">Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:991.55px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:1121.48px;white-space:nowrap">Securities</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:1665.08px;letter-spacing:65.66px;white-space:nowrap">.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:1978.92px;white-space:nowrap">$12,379,227</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:2839.33px;white-space:nowrap">$9,568,359</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:3592.44px;white-space:nowrap">$(3,891,344)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:4933.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:5768.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:6204.73px;white-space:nowrap">2,544,639</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:6966.86px;letter-spacing:-0.82px;white-space:nowrap">(6,114,817)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:8032.28px;white-space:nowrap">(1,698)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:8572.92px;white-space:nowrap">$14,484,366</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3769.33px;left:9394.44px;white-space:nowrap">$(2,079,662)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3990.53px;left:144px;white-space:nowrap">Other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3990.53px;left:485.89px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:3990.53px;left:1012.36px;white-space:nowrap">Instruments:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4243.73px;left:288px;white-space:nowrap">Restricted </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4243.73px;left:875.92px;white-space:nowrap">Currency</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4243.73px;left:1409.04px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4211.73px;left:2047.33px;white-space:nowrap">$2,606,971</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4211.73px;left:2839.33px;white-space:nowrap">$5,692,698</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4211.73px;left:3592.44px;white-space:nowrap">$(7,863,389)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4211.73px;left:4933.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4211.73px;left:5768.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4211.73px;left:6560.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4211.73px;left:6992.05px;white-space:nowrap">$(504,432)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4211.73px;left:7977.35px;white-space:nowrap">$70,990</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4211.73px;left:8880.75px;white-space:nowrap">$2,838</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4211.73px;left:9804.89px;white-space:nowrap">$(37)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4431.6px;left:144px;white-space:nowrap">Receivables:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4661.42px;left:432px;white-space:nowrap">Interest </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4661.42px;left:876.51px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4661.42px;left:1248.81px;letter-spacing:51.82px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4629.42px;left:2149.94px;white-space:nowrap">$526,601</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4629.42px;left:2839.33px;white-space:nowrap">$3,135,935</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4629.42px;left:3592.44px;white-space:nowrap">$(2,978,453)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4629.42px;left:4933.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4629.42px;left:5768.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4629.42px;left:6560.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4629.42px;left:6992.05px;white-space:nowrap">$(415,807)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4629.42px;left:7977.35px;white-space:nowrap">$36,401</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4629.42px;left:8743.94px;white-space:nowrap">$304,677</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:4629.42px;left:9647.35px;white-space:nowrap">$10,862</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;font-weight:bold;position:absolute;top:5039.83px;left:0px;white-space:nowrap">Liabilities:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5229.04px;left:144px;white-space:nowrap">Payables:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5482.24px;left:288px;white-space:nowrap">Deferred </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5482.24px;left:798.57px;letter-spacing:-4.54px;white-space:nowrap">Tax</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5482.24px;left:1024.23px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5482.24px;left:1415.32px;letter-spacing:53.2px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5450.24px;left:2286.75px;white-space:nowrap">$1,491</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5450.24px;left:3263.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5450.24px;left:4098.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5450.24px;left:4933.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5450.24px;left:5768.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5450.24px;left:6560.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5450.24px;left:7395.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5450.24px;left:8066.48px;white-space:nowrap">$(712)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5450.24px;left:8983.37px;white-space:nowrap">$779</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5450.24px;left:9736.48px;white-space:nowrap">$(712)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5671.44px;left:288px;white-space:nowrap">Investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5671.44px;left:923.96px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5851.44px;left:432px;white-space:nowrap">Purchased</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5851.44px;left:1054.27px;white-space:nowrap">(ARS)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5851.44px;left:1415.32px;letter-spacing:53.2px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5819.44px;left:2471.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5819.44px;left:2941.94px;white-space:nowrap">$129,991</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5819.44px;left:4098.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5819.44px;left:4933.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5819.44px;left:5768.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5819.44px;left:6560.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5819.44px;left:7395.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5819.44px;left:8230.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5819.44px;left:8743.94px;white-space:nowrap">$129,991</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:150px;position:absolute;top:5819.44px;left:9900.62px;white-space:nowrap">$&#8212;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:6313.53px;left:0px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6309.31px;left:42.54px;white-space:nowrap">May</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6309.31px;left:326.92px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6309.31px;left:779.18px;white-space:nowrap">accretion, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6309.31px;left:1384.57px;white-space:nowrap">amortization, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6309.31px;left:2172.23px;white-space:nowrap">partnership </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6309.31px;left:2865.12px;white-space:nowrap">adjustments, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6309.31px;left:3645.59px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6309.31px;left:4054.1px;white-space:nowrap">other </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6309.31px;left:4389.65px;white-space:nowrap">cost </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6309.31px;left:4666.84px;white-space:nowrap">basis </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6309.31px;left:5009.65px;letter-spacing:0px;white-space:nowrap">adjustments.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7984.22px;left:0px;white-space:nowrap">Description</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7792.22px;left:2218.67px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7792.22px;left:2556.56px;letter-spacing:-1.47px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7792.22px;left:3019.06px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7984.22px;left:2251.33px;white-space:nowrap">End </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7984.22px;left:2597.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7984.22px;left:2790.55px;letter-spacing:-2.21px;white-space:nowrap">Year</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7984.22px;left:3330px;letter-spacing:-0.88px;white-space:nowrap">Valuation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7984.22px;left:4085.7px;letter-spacing:-1.32px;white-space:nowrap">Technique</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7984.22px;left:5118.75px;white-space:nowrap">Unobservable </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7984.22px;left:6221.33px;white-space:nowrap">Inputs</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7984.22px;left:7445.7px;white-space:nowrap">Amount</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7408.22px;left:9278.83px;white-space:nowrap">Impact </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7408.22px;left:9838.98px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7600.22px;left:9234.06px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7600.22px;left:9571.95px;letter-spacing:-1.47px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7792.22px;left:9456.88px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7792.22px;left:9599.06px;white-space:nowrap">Input </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7984.22px;left:9251.64px;white-space:nowrap">Increases</div><div style="font-family:Arial, sans-serif;font-size:93.3px;font-weight:bold;position:absolute;top:7987.43px;left:9990px;white-space:nowrap">a</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8260.7px;left:0px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8260.7px;left:841.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8260.7px;left:1383.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8260.7px;left:1988.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8537.18px;left:0px;white-space:nowrap">Assets:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8813.67px;left:180px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8813.67px;left:1087.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8813.67px;left:1256.02px;white-space:nowrap">Securities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9090.15px;left:270px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9090.15px;left:856.95px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9090.15px;left:1781.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9282.15px;left:360px;white-space:nowrap">Agency </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9282.15px;left:938.13px;white-space:nowrap">Securities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.64px;left:350.08px;white-space:nowrap">Argentina</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:9556.22px;left:1035px;letter-spacing:60.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.64px;left:2290.23px;white-space:nowrap">$13,615,735</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.64px;left:3330px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.64px;left:3863.44px;white-space:nowrap">comparables</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.64px;left:5100px;white-space:nowrap">Implied </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.64px;left:5660.23px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9750.64px;left:5190px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9750.64px;left:5928.36px;white-space:nowrap">rate</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.64px;left:7649.61px;white-space:nowrap">143.8</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.64px;left:8254.38px;white-space:nowrap">ARS/USD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9558.64px;left:9305.23px;white-space:nowrap">Decrease</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:9561.85px;left:9990px;white-space:nowrap">b</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10027.12px;left:270px;white-space:nowrap">Short </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10027.12px;left:693.98px;letter-spacing:-3.55px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10027.12px;left:1093.98px;white-space:nowrap">Investments:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.61px;left:350.08px;white-space:nowrap">Argentina</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10301.18px;left:1035px;letter-spacing:60.56px;white-space:nowrap">...........</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.61px;left:2601.64px;white-space:nowrap">868,631</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.61px;left:3330px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.61px;left:3863.44px;white-space:nowrap">comparables</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.61px;left:5100px;white-space:nowrap">Implied </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.61px;left:5660.23px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10495.61px;left:5190px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10495.61px;left:5928.36px;white-space:nowrap">rate</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.61px;left:7649.61px;white-space:nowrap">143.8</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.61px;left:8254.38px;white-space:nowrap">ARS/USD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10303.61px;left:9305.23px;white-space:nowrap">Decrease</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10306.82px;left:9990px;white-space:nowrap">c</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10772.09px;left:270px;white-space:nowrap">All </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10772.09px;left:492.27px;white-space:nowrap">Other</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:10769.67px;left:940.84px;letter-spacing:60.31px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10772.09px;left:2601.64px;white-space:nowrap">307,515</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:10775.3px;left:3180px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11048.58px;left:0px;white-space:nowrap">Liabilities:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.06px;left:270px;white-space:nowrap">All </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.06px;left:492.27px;white-space:nowrap">Other</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11322.64px;left:940.84px;letter-spacing:60.31px;white-space:nowrap">............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11325.06px;left:2601.64px;white-space:nowrap">130,770</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11328.27px;left:3180px;white-space:nowrap">d</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11601.54px;left:370.8px;letter-spacing:-3.55px;white-space:nowrap">Total</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:11599.12px;left:752.68px;letter-spacing:59.92px;white-space:nowrap">..............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11601.54px;left:2313.98px;letter-spacing:-2.16px;white-space:nowrap">$14,661,111</div></div>
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		<div style="height:22px;left:54px;position:absolute;top:121px;width:504px">
			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-2.3px;white-space:nowrap">11. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:306.56px;letter-spacing:-3.2px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:708.92px;letter-spacing:-5.17px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1263.05px;letter-spacing:-3.69px;white-space:nowrap">Measurements </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:2708.45px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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		<div style="height:50px;left:36px;position:absolute;top:32px;width:503px">
			<div style="width:10080px;height:912px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:10px;white-space:nowrap">Notes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:558.17px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:810.66px;letter-spacing:10.32px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:1647.53px;letter-spacing:8.88px;white-space:nowrap">Statements</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">38</div></div>
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		<div style="height:17px;left:405px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div></div>
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		<div style="height:13px;left:72px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div 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			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1885.96px;left:0px;letter-spacing:-1.2px;white-space:nowrap">12. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1885.96px;left:317.59px;letter-spacing:-3.64px;white-space:nowrap">Subsequent </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:1885.96px;left:1473.69px;letter-spacing:-3.33px;white-space:nowrap">Events</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:820.46px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:1160.68px;white-space:nowrap">evaluated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:1991.34px;white-space:nowrap">subsequent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:2972.11px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:3552.45px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:4212.95px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:4513.18px;white-space:nowrap">issuance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:5273.61px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:5473.74px;text-rendering:optimizeLegibility;white-space:nowrap">the&#160;financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:6484.39px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:7414.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:7765.14px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:8715.67px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:9065.92px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2253.7px;left:9316.14px;white-space:nowrap">events </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2503.7px;left:0px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2503.7px;left:440.33px;white-space:nowrap">occurred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2503.7px;left:1190.65px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2503.7px;left:1540.9px;white-space:nowrap">require </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2503.7px;left:2151.21px;white-space:nowrap">disclosure.</div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:3086.76px;left:0px;letter-spacing:-3.69px;white-space:nowrap">Abbreviations</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:388.17px;left:38.73px;white-space:nowrap">a</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:150px;white-space:nowrap">Represents </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:857.42px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:1076.33px;white-space:nowrap">directional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:1710.86px;white-space:nowrap">change </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:2177.81px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:2316.41px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:2535.31px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:2754.06px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:3104.22px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:3250.16px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:3469.06px;white-space:nowrap">Level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:3819.22px;white-space:nowrap">3 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:3928.67px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:4446.56px;white-space:nowrap">instruments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:5161.25px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:5416.64px;white-space:nowrap">would </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:5795.86px;white-space:nowrap">result </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:6153.2px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:6452.11px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:6561.56px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:7181.56px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:7436.95px;white-space:nowrap">reasonable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:8122.66px;white-space:nowrap">increase </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:8655.08px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:8793.67px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:9012.58px;white-space:nowrap">corresponding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:9880.55px;white-space:nowrap">input. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:383.95px;left:10230.86px;letter-spacing:-3.59px;white-space:nowrap">A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:150px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:770px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:1025.39px;white-space:nowrap">reasonable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:1711.09px;white-space:nowrap">decrease </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:2287.34px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:2425.94px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:2644.84px;white-space:nowrap">input </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:2965.86px;white-space:nowrap">would </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:3345.08px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:3666.09px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:3885px;white-space:nowrap">opposite </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:4417.58px;letter-spacing:-0.28px;white-space:nowrap">effect. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:4809.3px;text-rendering:optimizeLegibility;white-space:nowrap">Significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:5451.17px;white-space:nowrap">impacts, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:5976.25px;white-space:nowrap">if </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:6078.36px;letter-spacing:-1.92px;white-space:nowrap">any, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:6353.28px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:6499.22px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:6717.97px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:7068.13px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:7476.64px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:7695.55px;white-space:nowrap">assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:8111.33px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:8432.34px;white-space:nowrap">been </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:575.95px;left:8760.7px;white-space:nowrap">indicated.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:776.66px;left:38.73px;white-space:nowrap">b</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:150px;white-space:nowrap">Represents </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:857.42px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:966.88px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:1586.88px;white-space:nowrap">impact </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:2009.84px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:2155.78px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:2374.53px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:2724.69px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:2980.08px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:772.44px;left:3198.98px;white-space:nowrap">assets.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:973.14px;left:40.87px;white-space:nowrap">c</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:150px;white-space:nowrap">Represents </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:857.42px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:966.88px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:1586.88px;white-space:nowrap">impact </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:2009.84px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:2155.78px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:2374.53px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:2724.69px;white-space:nowrap">but </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:2943.59px;white-space:nowrap">not </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:3162.5px;white-space:nowrap">net </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:968.92px;left:3381.41px;white-space:nowrap">assets.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:93.3px;position:absolute;top:1169.63px;left:38.73px;white-space:nowrap">d</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:150px;white-space:nowrap">Includes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:675.23px;white-space:nowrap">fair </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:893.98px;white-space:nowrap">value </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:1244.14px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:1390.08px;white-space:nowrap">immaterial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:2031.64px;white-space:nowrap">assets </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:2447.42px;white-space:nowrap">and/or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:2855.94px;white-space:nowrap">liabilities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:3388.28px;white-space:nowrap">developed </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:4030.31px;white-space:nowrap">using </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:4380.47px;white-space:nowrap">various </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:4839.92px;white-space:nowrap">valuation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:5401.64px;white-space:nowrap">techniques </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:6072.81px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:6328.2px;white-space:nowrap">unobservable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:7152.5px;white-space:nowrap">inputs. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:7575.63px;white-space:nowrap">May </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:7860px;white-space:nowrap">also </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:8137.19px;white-space:nowrap">include </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:8589.45px;white-space:nowrap">values </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:9005.23px;white-space:nowrap">derived </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:9472.03px;white-space:nowrap">using </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1165.41px;left:9822.19px;white-space:nowrap">private </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1357.41px;left:150px;white-space:nowrap">transaction </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1357.41px;left:828.36px;white-space:nowrap">prices </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1357.41px;left:1214.84px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1357.41px;left:1367.97px;white-space:nowrap">non-public </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1357.41px;left:2009.84px;white-space:nowrap">third </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1357.41px;left:2301.56px;white-space:nowrap">party </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1357.41px;left:2629.77px;white-space:nowrap">pricing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1357.41px;left:3052.73px;white-space:nowrap">information </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1357.41px;left:3738.28px;white-space:nowrap">which </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1357.41px;left:4110.16px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:1357.41px;left:4241.41px;white-space:nowrap">unobservable.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3487.54px;left:0px;white-space:nowrap">Counterparty</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3762.59px;left:0px;letter-spacing:-0.81px;white-space:nowrap">BNDP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3779.52px;left:1116px;letter-spacing:-0.72px;white-space:nowrap">BNP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3779.52px;left:1486.55px;white-space:nowrap">Paribas </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3779.52px;left:2073.5px;letter-spacing:-4.41px;white-space:nowrap">SA</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4037.63px;left:0px;white-space:nowrap">CITI</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4054.56px;left:1116px;white-space:nowrap">Citibank </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4054.56px;left:1738.5px;letter-spacing:-4.41px;white-space:nowrap">NA</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4312.68px;left:0px;white-space:nowrap">DBAB</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4329.61px;left:1116px;white-space:nowrap">Deutsche </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4329.61px;left:1836.39px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4329.61px;left:2236.7px;white-space:nowrap">AG</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4587.72px;left:0px;white-space:nowrap">GSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4604.65px;left:1116px;white-space:nowrap">Goldman </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4604.65px;left:1809.67px;white-space:nowrap">Sachs </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4604.65px;left:2298.81px;white-space:nowrap">Group, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4604.65px;left:2832.41px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4862.77px;left:0px;white-space:nowrap">HSBK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4879.7px;left:1116px;white-space:nowrap">HSBC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4879.7px;left:1604.98px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4879.7px;left:2014.13px;white-space:nowrap">plc</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5137.81px;left:0px;white-space:nowrap">JPHQ</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.74px;left:1116px;white-space:nowrap">JPMorgan </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.74px;left:1889.67px;white-space:nowrap">Chase </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.74px;left:2396.63px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.74px;left:2805.77px;letter-spacing:-4.41px;white-space:nowrap">NA</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5412.86px;left:0px;white-space:nowrap">MSCO</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5429.79px;left:1116px;white-space:nowrap">Morgan </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5429.79px;left:1702.95px;white-space:nowrap">Stanley</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5687.9px;left:0px;letter-spacing:-0.81px;white-space:nowrap">SCNY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5704.83px;left:1116px;white-space:nowrap">Standard </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5704.83px;left:1809.83px;white-space:nowrap">Chartered </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5704.83px;left:2565.77px;white-space:nowrap">Bank</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5962.94px;left:0px;white-space:nowrap">UBSW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5979.88px;left:1116px;white-space:nowrap">UBS </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5979.88px;left:1480.61px;white-space:nowrap">AG</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6643.45px;left:0px;white-space:nowrap">Selected </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6643.45px;left:790.4px;white-space:nowrap">Portfolio</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7095.93px;left:0px;white-space:nowrap">BADLAR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6920.86px;left:1116px;white-space:nowrap">Argentina </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6920.86px;left:1845.38px;white-space:nowrap">Deposit </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6920.86px;left:2432.33px;white-space:nowrap">Rates </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6920.86px;left:2894.75px;white-space:nowrap">Badlar</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6920.86px;left:3401.7px;white-space:nowrap">Private </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6920.86px;left:3944.13px;white-space:nowrap">Banks </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7112.86px;left:1116px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7370.98px;left:0px;white-space:nowrap">CER</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.91px;left:1116px;white-space:nowrap">Reference </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.91px;left:1898.66px;white-space:nowrap">Stabilization </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7387.91px;left:2805.84px;text-rendering:optimizeLegibility;white-space:nowrap">Coefficient</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7646.02px;left:0px;white-space:nowrap">FRN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7662.95px;left:1116px;white-space:nowrap">Floating </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7662.95px;left:1729.67px;white-space:nowrap">Rate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7662.95px;left:2112.09px;white-space:nowrap">Note</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3487.54px;left:5220px;white-space:nowrap">Currency</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3762.59px;left:5220px;white-space:nowrap">ARS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3779.52px;left:6336px;white-space:nowrap">Argentine </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3779.52px;left:7065.37px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4037.63px;left:5220px;white-space:nowrap">AUD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4054.56px;left:6336px;white-space:nowrap">Australian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4054.56px;left:7091.94px;white-space:nowrap">Dollar</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4312.68px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">BRL</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4329.61px;left:6336px;white-space:nowrap">Brazilian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4329.61px;left:6994.05px;white-space:nowrap">Real</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4587.72px;left:5220px;white-space:nowrap">CHF</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4604.65px;left:6336px;white-space:nowrap">Swiss </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4604.65px;left:6798.27px;white-space:nowrap">Franc</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4862.77px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">COP</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4879.7px;left:6336px;white-space:nowrap">Colombian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4879.7px;left:7145.3px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5137.81px;left:5220px;white-space:nowrap">EUR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5154.74px;left:6336px;white-space:nowrap">Euro</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5412.86px;left:5220px;white-space:nowrap">GHS</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5429.79px;left:6336px;white-space:nowrap">Ghanaian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5429.79px;left:7074.36px;white-space:nowrap">Cedi</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5687.9px;left:5220px;white-space:nowrap">IDR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5704.83px;left:6336px;white-space:nowrap">Indonesian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5704.83px;left:7163.34px;white-space:nowrap">Rupiah</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5962.94px;left:5220px;white-space:nowrap">INR</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5979.88px;left:6336px;white-space:nowrap">Indian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5979.88px;left:6816.39px;white-space:nowrap">Rupee</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6237.99px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">JPY</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6254.92px;left:6336px;white-space:nowrap">Japanese </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6254.92px;left:7071.47px;letter-spacing:-4.9px;white-space:nowrap">Yen</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6513.03px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">KRW</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6529.97px;left:6336px;white-space:nowrap">South </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6529.97px;left:6798.58px;white-space:nowrap">Korean </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6529.97px;left:7358.97px;letter-spacing:-0.96px;white-space:nowrap">Won</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:6788.08px;left:5220px;white-space:nowrap">MXN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6805.01px;left:6336px;white-space:nowrap">Mexican </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6805.01px;left:6976.23px;white-space:nowrap">Peso</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7063.12px;left:5220px;white-space:nowrap">NOK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7080.06px;left:6336px;white-space:nowrap">Norwegian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7080.06px;left:7145.3px;white-space:nowrap">Krone</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7338.17px;left:5220px;white-space:nowrap">SEK</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7355.1px;left:6336px;white-space:nowrap">Swedish </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7355.1px;left:6985.22px;white-space:nowrap">Krona</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7613.21px;left:5220px;white-space:nowrap">USD</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7630.15px;left:6336px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7630.15px;left:6842.95px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7630.15px;left:7341px;white-space:nowrap">Dollar</div></div>
		</div>
		<div style="height:22px;left:36px;position:absolute;top:121px;width:503px">
			<div style="width:10080px;height:146px;position:absolute;top:3.9px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:0px;letter-spacing:-2.3px;white-space:nowrap">11. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:306.56px;letter-spacing:-3.2px;white-space:nowrap">Fair </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:708.92px;letter-spacing:-5.17px;white-space:nowrap">Value </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:-23.73px;left:1263.05px;letter-spacing:-3.69px;white-space:nowrap">Measurements </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10.14px;left:2708.45px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:25px;left:54px;position:absolute;top:32px;width:503px">
			<div style="width:10080px;height:421px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
		</div>
		<div style="height:25px;left:54px;position:absolute;top:77px;width:503px">
			<div style="width:10080px;height:393px;position:absolute;top:4.61px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Report </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:852.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1141.69px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:2659.79px;white-space:nowrap">Registered </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3989.38px;white-space:nowrap">Public </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:4755.41px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:6114.06px;white-space:nowrap">Firm</div></div>
		</div>
		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">39</div></div>
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		<div style="background-color:transparent;height:1px;left:54px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-color:transparent;height:13px;left:527px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:17px;left:189px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5653.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:13px;left:514px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;letter-spacing:-6.65px;white-space:nowrap">To </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:540.35px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1070.68px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1267.56px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2011.11px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2361.45px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3482.14px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3679.01px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4559.5px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5129.82px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5770.11px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:401.71px;left:0px;white-space:nowrap">Opinion </div><div style="font-family:Arial, sans-serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:401.71px;left:810.94px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:401.71px;left:1110.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:401.71px;left:1466.41px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:401.71px;left:2388.87px;white-space:nowrap">Statements</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:0px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:316.76px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:757.09px;white-space:nowrap">audited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:1397.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:1697.87px;white-space:nowrap">accompanying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:2908.56px;white-space:nowrap">statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:3748.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:3949.1px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:4519.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:4869.67px;white-space:nowrap">liabilities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:5649.96px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:6410.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:6710.71px;white-space:nowrap">statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:7551.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:7751.25px;white-space:nowrap">investments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:8811.65px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:848.64px;left:9008.53px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:0px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:570.32px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:1210.61px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:1670.89px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:2031.06px;white-space:nowrap">&quot;Fund&quot;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:2679.08px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:2919.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:3119.33px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:3999.64px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:4299.87px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:4800.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:5100.56px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:5700.94px;white-space:nowrap">statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:6541.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:6741.47px;white-space:nowrap">operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:7632.07px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:7892.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:8192.37px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:8592.54px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1098.64px;left:9143.09px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:0px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:300.23px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:800.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:1100.92px;white-space:nowrap">statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:1941.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:2141.46px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:2872px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:3062.11px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:3362.34px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:3932.58px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:4192.65px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:4632.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:4833.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:5133.34px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:5463.46px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:5953.62px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:6143.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:6443.96px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:6994.34px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:7544.88px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:8425.2px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:8725.43px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1348.64px;left:9225.88px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:300.23px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:900.62px;white-space:nowrap">notes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:1440.97px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:1791.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:2091.53px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:2801.95px;white-space:nowrap">highlights </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:3612.48px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:3872.55px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:4312.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:4513.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:4813.24px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:5453.61px;white-space:nowrap">indicated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:6224.15px;white-space:nowrap">therein </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:6824.53px;white-space:nowrap">(collectively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:7804.78px;white-space:nowrap">referred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:8485.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:8685.18px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:8925.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1598.64px;left:9225.53px;text-rendering:optimizeLegibility;white-space:nowrap">&#8220;financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:0px;white-space:nowrap">statements&#8221;). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:1100.3px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:1300.43px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:1610.6px;white-space:nowrap">opinion, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:2291.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:2591.37px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:3301.79px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:4232.2px;white-space:nowrap">present </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:4882.59px;letter-spacing:-1.67px;white-space:nowrap">fairly, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:5349.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:5539.39px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:5769.49px;white-space:nowrap">material </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:6459.7px;white-space:nowrap">respects, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:7239.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:7540.22px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:8250.64px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:8921.07px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:9121.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1848.64px;left:9421.44px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:240.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:440.24px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:1320.56px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:1620.79px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:2121.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:2421.47px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:3001.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:3201.77px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:3431.78px;white-space:nowrap">operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:4322.37px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:4582.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:4882.68px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:5282.84px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:5683.18px;white-space:nowrap">ended, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:6283.74px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:6583.97px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:7314.52px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:7504.63px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:7734.64px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:8034.87px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:8605.11px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:8865.18px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:9305.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2098.64px;left:9505.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:0px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:330.12px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:820.28px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:1010.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:1310.63px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:1861px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:2411.54px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:3291.86px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:3592.09px;white-space:nowrap">2020 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:4042.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:4392.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:4693.1px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:5403.52px;white-space:nowrap">highlights </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:6214.04px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:6474.11px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:6914.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:7114.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:7414.8px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:8055.18px;white-space:nowrap">indicated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:8825.71px;white-space:nowrap">therein </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2348.64px;left:9426.09px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2598.64px;left:0px;white-space:nowrap">conformity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2598.64px;left:880.22px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2598.64px;left:1250.33px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2598.64px;left:2170.99px;white-space:nowrap">principles </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2598.64px;left:2981.34px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2598.64px;left:3761.81px;white-space:nowrap">accepted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2598.64px;left:4542.36px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2598.64px;left:4732.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2598.64px;left:5032.71px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2598.64px;left:5603.03px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2598.64px;left:6163.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2598.64px;left:6353.53px;white-space:nowrap">America. </div><div style="font-family:Arial, sans-serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:3021.71px;left:0px;white-space:nowrap">Basis </div><div style="font-family:Arial, sans-serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:3021.71px;left:589.26px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:200px;font-style:italic;font-weight:bold;position:absolute;top:3021.71px;left:911.43px;white-space:nowrap">Opinion</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:0px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:550.28px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:1260.7px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:2191.11px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:2501.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:2801.51px;white-space:nowrap">responsibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:3891.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:4092.1px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:4392.33px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:4979.36px;white-space:nowrap">management. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:6180.03px;white-space:nowrap">Our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:6530.1px;white-space:nowrap">responsibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:7620.56px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:7800.56px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:8000.68px;white-space:nowrap">express </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:8680.96px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:8931.18px;white-space:nowrap">opinion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3468.64px;left:9561.71px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:300.23px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:887.26px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:1597.68px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:2528.09px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:3068.53px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:3318.75px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:3628.92px;white-space:nowrap">audits. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:4259.27px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:4576.03px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:4886.19px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:5036.31px;white-space:nowrap">public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:5556.62px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:6477.28px;text-rendering:optimizeLegibility;white-space:nowrap">firm </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:6827.17px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:7677.6px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:8047.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:8347.94px;white-space:nowrap">Public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3718.64px;left:8888.2px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:0px;white-space:nowrap">Accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:940.61px;white-space:nowrap">Oversight </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:1760.89px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:2291.22px;white-space:nowrap">(United </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:2921.48px;white-space:nowrap">States) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:3541.73px;white-space:nowrap">(PCAOB) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:4341.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:4692.13px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:5002.29px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:5712.71px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:5912.84px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:6163.07px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:7204.04px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:7574.15px;white-space:nowrap">respect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:8214.43px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:8414.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:8714.79px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3968.64px;left:9175.08px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:0px;white-space:nowrap">accordance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:980.6px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:1350.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:1650.94px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:2051.02px;white-space:nowrap">federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:2651.4px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:3461.66px;white-space:nowrap">laws </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:3871.76px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:4222.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:4522.32px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:5382.95px;white-space:nowrap">rules </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:5823.11px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:6173.44px;white-space:nowrap">regulations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:7104.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:7304.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:7604.38px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:8444.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4218.64px;left:8795.04px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4468.64px;left:0px;white-space:nowrap">Commission </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4468.64px;left:1040.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4468.64px;left:1390.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4468.64px;left:1690.75px;white-space:nowrap">PCAOB. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:0px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:316.76px;white-space:nowrap">conducted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:1197.42px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:1507.59px;white-space:nowrap">audits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:2037.92px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:2238.05px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:2728.39px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:3438.81px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:4369.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:4559.33px;white-space:nowrap">accordance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:5539.92px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:5910.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:6210.26px;white-space:nowrap">standards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:7050.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:7250.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:7551.12px;white-space:nowrap">PCAOB. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:8328.08px;white-space:nowrap">Those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4898.64px;left:8878.36px;white-space:nowrap">standards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:0px;white-space:nowrap">require </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:610.31px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:960.56px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:1240.66px;white-space:nowrap">plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:1630.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:1981.32px;white-space:nowrap">perform </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:2651.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:2951.72px;white-space:nowrap">audit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:3392.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:3592.18px;white-space:nowrap">obtain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:4132.62px;white-space:nowrap">reasonable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:5073.31px;white-space:nowrap">assurance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:5953.8px;white-space:nowrap">about </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:6454.25px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:7144.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:7444.86px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:8155.28px;white-space:nowrap">statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:9085.69px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:9395.86px;white-space:nowrap">free </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5148.64px;left:9756.04px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5398.64px;left:0px;white-space:nowrap">material </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5398.64px;left:690.21px;white-space:nowrap">misstatement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5398.64px;left:1860.56px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5398.64px;left:2550.94px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5398.64px;left:2901.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5398.64px;left:3101.4px;white-space:nowrap">error </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5398.64px;left:3531.45px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5398.64px;left:3741.5px;white-space:nowrap">fraud. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:0px;white-space:nowrap">Our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:350.07px;white-space:nowrap">audits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:880.4px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:1600.93px;white-space:nowrap">performing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:2511.3px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:3461.84px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:3661.96px;white-space:nowrap">assess </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:4272.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:4572.42px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:4992.36px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:5192.49px;white-space:nowrap">material </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:5882.7px;white-space:nowrap">misstatement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:7003.04px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:7203.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:7503.4px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:8213.82px;white-space:nowrap">statements, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5828.64px;left:9194.24px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:0px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:350.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:550.46px;white-space:nowrap">error </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:980.51px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:1190.57px;white-space:nowrap">fraud, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:1700.86px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:2051.19px;white-space:nowrap">performing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:2961.56px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:3912.1px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:4262.34px;white-space:nowrap">respond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:4962.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:5162.96px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:5653.3px;white-space:nowrap">risks. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:6123.25px;white-space:nowrap">Such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:6583.54px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:7534.07px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:8254.6px;white-space:nowrap">examining, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:9175.08px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:9425.3px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6078.64px;left:9575.42px;white-space:nowrap">test </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:0px;white-space:nowrap">basis, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:520.22px;white-space:nowrap">evidence </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:1290.76px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:2101.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:2401.52px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:3141.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:3492.25px;white-space:nowrap">disclosures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:4442.61px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:4632.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:4932.95px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:5643.37px;white-space:nowrap">statements. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:6623.79px;white-space:nowrap">Our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:6973.86px;white-space:nowrap">audits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:7504.19px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:7884.4px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:8604.93px;white-space:nowrap">evaluating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6328.64px;left:9475.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:0px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:920.65px;white-space:nowrap">principles </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:1731.01px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:2171.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:2521.67px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:3372.1px;white-space:nowrap">estimates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:4192.38px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:4692.66px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:4932.77px;white-space:nowrap">management, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:6083.44px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:6323.55px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:6683.64px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:6923.76px;white-space:nowrap">evaluating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:7794.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:8094.64px;white-space:nowrap">overall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6578.64px;left:8674.89px;white-space:nowrap">presentation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:500.36px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:1210.78px;white-space:nowrap">statements. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:2241.21px;white-space:nowrap">Our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:2591.28px;white-space:nowrap">procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:3541.82px;white-space:nowrap">included </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:4262.34px;text-rendering:optimizeLegibility;white-space:nowrap">confirmation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:5292.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:5492.9px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:6303.16px;white-space:nowrap">owned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:6883.59px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:7123.71px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:7323.84px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:8204.15px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:8504.38px;white-space:nowrap">2020 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6828.64px;left:8954.82px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:0px;white-space:nowrap">correspondence </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:1340.86px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:1710.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:2011.2px;white-space:nowrap">custodian, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:2881.76px;white-space:nowrap">transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:3541.99px;white-space:nowrap">agent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:4042.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:4392.77px;white-space:nowrap">brokers; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:5093px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:5573.32px;white-space:nowrap">replies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:6153.57px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:6593.73px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:6893.96px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:7624.34px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:8034.35px;white-space:nowrap">brokers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:8734.57px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7078.64px;left:9014.68px;white-space:nowrap">performed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:0px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:460.28px;white-space:nowrap">auditing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:1140.82px;white-space:nowrap">procedures. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:2141.37px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:2458.13px;white-space:nowrap">believe </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:3078.54px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:3428.79px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:3738.96px;white-space:nowrap">audits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:4269.29px;white-space:nowrap">provide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:4909.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:5059.78px;white-space:nowrap">reasonable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:6000.47px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:6470.68px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:6730.75px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7328.64px;left:7040.92px;white-space:nowrap">opinion.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7758.64px;left:0px;white-space:nowrap">PricewaterhouseCoopers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7758.64px;left:2071.05px;letter-spacing:-1.08px;white-space:nowrap">LLP</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8188.64px;left:0px;white-space:nowrap">San </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8188.64px;left:370.28px;white-space:nowrap">Francisco, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8188.64px;left:1250.51px;white-space:nowrap">California</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.64px;left:0px;white-space:nowrap">February </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.64px;left:770.27px;white-space:nowrap">19, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.64px;left:1070.51px;white-space:nowrap">2021</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:0px;letter-spacing:-1.08px;white-space:nowrap">We </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:316.76px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:757.09px;white-space:nowrap">served </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:1347.36px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:1587.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:1887.71px;white-space:nowrap">auditor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:2488.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:2688.22px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:3038.55px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:3248.61px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:3708.72px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:4629.11px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:5549.59px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:5739.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:6039.93px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:6726.88px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:7607.37px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:8157.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:8357.78px;white-space:nowrap">Funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:8908.07px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8868.64px;left:9378.28px;white-space:nowrap">1948. </div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
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			<div style="width:10080px;height:432px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
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			<div style="width:10080px;height:403px;position:absolute;top:4.61px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;letter-spacing:-7.2px;white-space:nowrap">Tax </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:476.84px;white-space:nowrap">Information </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1849.71px;white-space:nowrap">(unaudited)</div></div>
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		<div style="background-color:transparent;height:1px;left:36px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">40</div></div>
		</div>
		<div style="background-color:transparent;height:13px;left:66px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:405px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:13px;left:72px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="width:10080px;height:12591px;position:absolute;top:3.5px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:220.08px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1100.39px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1400.63px;white-space:nowrap">2020, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1901.07px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2361.18px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2761.52px;white-space:nowrap">50% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3171.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3371.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3672.16px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4256.81px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4647.04px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5217.28px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5657.43px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6377.87px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6567.98px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7378.24px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7578.37px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8178.75px;white-space:nowrap">issuers. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8848.92px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9049.04px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">instances, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:860.45px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1460.83px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1941.06px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2381.22px;white-space:nowrap">withheld </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3091.64px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3501.65px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4131.91px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4522.24px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4722.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5022.6px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5482.88px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5733.11px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6223.45px;white-space:nowrap">investments. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7280.6px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7640.77px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8101.05px;white-space:nowrap">elects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8621.28px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8821.41px;white-space:nowrap">treat </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9231.59px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:480.23px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:870.56px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1110.67px;white-space:nowrap">allowed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1771.08px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2281.46px;white-space:nowrap">Section </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2931.86px;white-space:nowrap">853 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3282.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3482.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3782.55px;white-space:nowrap">Internal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4432.94px;white-space:nowrap">Revenue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5203.48px;white-space:nowrap">Code. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5730.56px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6120.62px;white-space:nowrap">election </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6791.04px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7091.02px;white-space:nowrap">allow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7551.21px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8641.85px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8841.97px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9402.19px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9642.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:300.23px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:750.67px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1671.15px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2121.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2321.63px;white-space:nowrap">treat </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2731.82px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3131.98px;white-space:nowrap">proportionate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4242.74px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4743.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4943.14px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5543.53px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6023.76px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6414.08px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6654.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6954.43px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7414.72px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7654.83px;white-space:nowrap">having </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8235.26px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8685.7px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9076.03px;white-space:nowrap">directly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:240.12px;white-space:nowrap">them. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:737.05px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1097.23px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2097.86px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2518.07px;white-space:nowrap">consider </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3248.44px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3738.78px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4479.17px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4719.29px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5319.67px;white-space:nowrap">taxes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5799.9px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6190.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6380.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6680.57px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6970.69px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7370.86px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7560.97px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8071.17px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8461.41px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9091.67px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9391.9px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">distribution.</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:25px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:421px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
		</div>
		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">41</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:17px;left:189px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5653.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
		</div>
		<div style="height:13px;left:514px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="width:10080px;height:866px;position:absolute;top:7.44px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:0px;white-space:nowrap">Important </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:1329.26px;white-space:nowrap">Information </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:2888.26px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:3216.62px;white-space:nowrap">Shareholders</div></div>
		</div>
		<div 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			<div style="width:10080px;height:12118px;position:absolute;top:3.61px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">










			<div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:0px;white-space:nowrap">Share </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:550.28px;white-space:nowrap">Repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:1630.72px;white-space:nowrap">Program</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:360.18px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:947.2px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:1477.53px;white-space:nowrap">previously </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:2337.89px;white-space:nowrap">authorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3228.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3528.72px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3989px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:0px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:950.54px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1200.76px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1400.89px;white-space:nowrap">10% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1811.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:2011.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:2311.52px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:2898.54px;white-space:nowrap">outstanding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:3879.32px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:4469.59px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:0px;white-space:nowrap">open-market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1060.49px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2131px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2331.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2631.36px;white-space:nowrap">discretion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3451.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3651.86px;white-space:nowrap">management. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:0px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:390.06px;white-space:nowrap">authorization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1470.76px;white-space:nowrap">remains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2160.97px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2351.07px;letter-spacing:-0.46px;white-space:nowrap">effect.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:200.13px;white-space:nowrap">exercising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:1060.49px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:1290.5px;white-space:nowrap">discretion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:2110.87px;white-space:nowrap">consistent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:2971.32px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:3341.43px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:3571.44px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:0px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:1100.65px;white-space:nowrap">responsibilities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:2381.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:2681.46px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:3601.85px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:4362.28px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:0px;white-space:nowrap">take </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:390.23px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:730.46px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:1410.91px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:2041.17px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:2501.46px;white-space:nowrap">factors, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:3141.65px;white-space:nowrap">including, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:3952.18px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:4252.41px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:0px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:570.15px;white-space:nowrap">to, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:820.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1120.52px;white-space:nowrap">level </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1540.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1740.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:2041.08px;white-space:nowrap">discount, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:2811.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:3111.77px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:3698.79px;white-space:nowrap">performance, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:0px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:690.38px;white-space:nowrap">holdings, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:1460.92px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2181.45px;letter-spacing:-1.48px;white-space:nowrap">history, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:2798.26px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:3398.38px;white-space:nowrap">conditions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2588.64px;left:4308.93px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:250.22px;white-space:nowrap">hand, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:750.67px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1050.91px;white-space:nowrap">availability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1931.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2131.44px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2591.72px;white-space:nowrap">attractive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3372.01px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:4382.4px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:0px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:690.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:990.62px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1370.83px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1570.96px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2161.23px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2851.61px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:3661.88px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:4182.19px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:0px;white-space:nowrap">undesirable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:980.68px;white-space:nowrap">because </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1711.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1911.36px;white-space:nowrap">liquidity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2561.66px;white-space:nowrap">concerns </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:3342.04px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:3552.1px;white-space:nowrap">because </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:4282.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:0px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:380.21px;white-space:nowrap">might </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:870.38px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1490.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1790.95px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2251.23px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2451.36px;white-space:nowrap">adverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3141.74px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3431.87px;white-space:nowrap">consequences. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:0px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:360.18px;white-space:nowrap">repurchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1400.71px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1921.03px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2171.25px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2671.52px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2921.75px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3071.87px;white-space:nowrap">national </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3752.4px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:0px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:830.65px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1030.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1331.02px;white-space:nowrap">prevailing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2151.47px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2751.59px;white-space:nowrap">price, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3241.76px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3862.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:4062.22px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:0px;white-space:nowrap">requirements, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:1150.49px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:1810.81px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2621.07px;white-space:nowrap">laws </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3031.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3381.5px;white-space:nowrap">rules </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3821.66px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:4171.9px;white-space:nowrap">restrict </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:0px;white-space:nowrap">repurchases, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1090.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1440.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1741.11px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2241.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2441.25px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2781.47px;white-space:nowrap">outstanding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3762.25px;white-space:nowrap">leverage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:4502.72px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:0px;white-space:nowrap">borrowing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:839.43px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1038.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1337.84px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1847.16px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1996.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2345.57px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2824.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3124.18px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3710.22px;white-space:nowrap">10% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:4119.52px;white-space:nowrap">threshold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:0px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:180px;white-space:nowrap">reached, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:930.5px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1180.72px;white-space:nowrap">further </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1750.96px;white-space:nowrap">repurchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2791.49px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3271.82px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3522.04px;white-space:nowrap">completed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:4402.53px;white-space:nowrap">until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;white-space:nowrap">authorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:890.6px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1130.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1430.95px;white-space:nowrap">Board. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2011.29px;white-space:nowrap">Until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2421.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2721.62px;white-space:nowrap">10% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3131.89px;white-space:nowrap">threshold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3922.38px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:4102.38px;white-space:nowrap">reached, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:460.28px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1560.94px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1860.91px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2301.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2601.47px;text-rendering:optimizeLegibility;white-space:nowrap">flexibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3331.67px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3531.8px;white-space:nowrap">commence </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:500.27px;white-space:nowrap">repurchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1540.81px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1680.82px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2031.15px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2511.47px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2651.48px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2831.48px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3782.02px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3982.15px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:960.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1150.75px;white-space:nowrap">light </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1530.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1731.09px;white-space:nowrap">prevailing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2551.55px;white-space:nowrap">circumstances.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:0px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:500.36px;white-space:nowrap">Notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1020.59px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1220.71px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1991.07px;white-space:nowrap">Statements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:2951.54px;white-space:nowrap">section, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:3621.88px;white-space:nowrap">please </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:0px;white-space:nowrap">see </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:340.22px;white-space:nowrap">note </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:740.57px;white-space:nowrap">2 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:890.68px;white-space:nowrap">(Shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:1570.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:1771.08px;text-rendering:optimizeLegibility;white-space:nowrap">Beneficial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:2601.56px;white-space:nowrap">Interest) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:3311.81px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:3571.88px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:0px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:940.43px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:1750.96px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:2341.23px;white-space:nowrap">repurchased.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7448.64px;left:0px;white-space:nowrap">Summary </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7448.64px;left:870.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7448.64px;left:1090.28px;white-space:nowrap">Updated </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7448.64px;left:1860.29px;white-space:nowrap">Information </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7448.64px;left:2900.21px;white-space:nowrap">Regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7448.64px;left:3840.29px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7448.64px;left:4160.3px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7878.64px;left:0px;letter-spacing:-2.67px;white-space:nowrap">Your </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7878.64px;left:446.66px;letter-spacing:-0.95px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7878.64px;left:1079.91px;white-space:nowrap">Goal </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7878.64px;left:1530px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7878.64px;left:1900.02px;white-space:nowrap">Main </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7878.64px;left:2360.04px;white-space:nowrap">Investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8308.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8308.64px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8308.64px;left:820.46px;white-space:nowrap">seeks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8308.64px;left:1340.68px;white-space:nowrap">high, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8308.64px;left:1781.02px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8308.64px;left:2391.24px;white-space:nowrap">income, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8308.64px;left:3071.51px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8308.64px;left:3441.62px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8308.64px;left:3591.74px;white-space:nowrap">secondary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8308.64px;left:4472.23px;white-space:nowrap">goal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8558.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8558.64px;left:200.13px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8558.64px;left:770.45px;white-space:nowrap">appreciation. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8558.64px;left:1851.15px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8558.64px;left:2391.42px;white-space:nowrap">normal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8558.64px;left:2991.62px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8558.64px;left:3591.74px;white-space:nowrap">conditions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:300.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:760.52px;white-space:nowrap">invests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:1370.74px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:1570.87px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:2001.09px;white-space:nowrap">80% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:2411.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:2611.49px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:2841.5px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:3141.74px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:3711.97px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8808.64px;left:3902.08px;white-space:nowrap">income-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:0px;white-space:nowrap">producing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:840.59px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:1700.86px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:2461.38px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:2861.72px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:3671.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:3872.11px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9058.64px;left:4272.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:0px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:600.38px;white-space:nowrap">issuers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:1270.55px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:2031.06px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:2831.48px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:3571.61px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9308.64px;left:3891.62px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9558.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9558.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9558.64px;left:500.36px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9558.64px;left:1087.38px;white-space:nowrap">80% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9558.64px;left:1497.66px;letter-spacing:-1.67px;white-space:nowrap">policy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9558.64px;left:2044.51px;white-space:nowrap">income-producing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9558.64px;left:3525.29px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9808.64px;left:0px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9808.64px;left:620.42px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9808.64px;left:1440.79px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9808.64px;left:2421.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9808.64px;left:2631.18px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9808.64px;left:3091.46px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9808.64px;left:4101.86px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10058.64px;left:0px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10058.64px;left:440.33px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10058.64px;left:1260.7px;white-space:nowrap">characteristics </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10058.64px;left:2461.03px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10058.64px;left:3031px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10058.64px;left:3231.12px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10058.64px;left:3661.35px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10058.64px;left:4518.37px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10308.64px;left:0px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10308.64px;left:587.02px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10308.64px;left:1507.41px;white-space:nowrap">objectives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10308.64px;left:2357.84px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10308.64px;left:2668.01px;white-space:nowrap">fundamental </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10308.64px;left:3708.72px;white-space:nowrap">policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10308.64px;left:4359.02px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10558.64px;left:0px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10558.64px;left:390.06px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10558.64px;left:690.29px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10558.64px;left:940.52px;white-space:nowrap">changed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10558.64px;left:1681.17px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10558.64px;left:2301.5px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10558.64px;left:2601.74px;white-space:nowrap">approval </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10558.64px;left:3342.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10558.64px;left:3542.34px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10558.64px;left:3692.46px;white-space:nowrap">majority </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10558.64px;left:4372.56px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10558.64px;left:4572.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10808.64px;left:0px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10808.64px;left:587.02px;white-space:nowrap">outstanding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10808.64px;left:1567.79px;white-space:nowrap">voting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10808.64px;left:2098.13px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:6030.26px;white-space:nowrap">Investm</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:6710.54px;white-space:nowrap">ent </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:7030.55px;white-space:nowrap">Strategy</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:5220px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:5480.07px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:5630.19px;white-space:nowrap">fundamental </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:6670.9px;letter-spacing:-1.67px;white-space:nowrap">policy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:7217.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:7517.99px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:7978.27px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:8278.24px;white-space:nowrap">normally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:9008.44px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:9528.66px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:5220px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:5650.22px;white-space:nowrap">65% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:6060.5px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:6260.63px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:6490.63px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:6880.87px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:7451.1px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:7641.21px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:7841.34px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:8271.56px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:8731.85px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:9512.23px;white-space:nowrap">(one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5420.13px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5930.33px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6320.39px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6570.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6870.85px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:7441.17px;white-space:nowrap">States) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8061.42px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8251.52px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8601.86px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8811.91px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:9272.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:9472.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5220px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5970.41px;white-space:nowrap">investments: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7030.81px;white-space:nowrap">(i) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7240.69px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7641.04px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8451.3px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8801.54px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9111.71px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5430.06px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6390.88px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6631px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6831.12px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7471.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7821.74px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8542.09px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8782.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:9082.44px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5220px;white-space:nowrap">government, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6270.56px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6500.57px;white-space:nowrap">agencies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7321.11px;white-space:nowrap">authorities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8201.6px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8411.66px;white-space:nowrap">instrumentalities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">(&#8220;U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5739.96px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6780.41px;white-space:nowrap">Securities&#8221;); </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7790.63px;white-space:nowrap">(ii) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8040.5px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8440.84px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9351.47px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5430.06px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6390.88px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6631px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6781.11px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7381.49px;white-space:nowrap">sovereign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8211.97px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9212.52px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9422.58px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5420.13px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5650.14px;white-space:nowrap">agencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6420.67px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6630.73px;white-space:nowrap">political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7281.04px;white-space:nowrap">subdivisions; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8361.56px;white-space:nowrap">(iii) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8651.43px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:9051.77px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5220px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5790.32px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6000.38px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6961.2px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7201.32px;white-space:nowrap">supra-national </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8392.06px;white-space:nowrap">organizations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5730.21px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6040.37px;white-space:nowrap">chartered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6850.81px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7050.94px;white-space:nowrap">promote </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7761.27px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8581.64px;white-space:nowrap">development </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9662.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5530.17px;white-space:nowrap">supported </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6380.77px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6620.89px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7251.15px;white-space:nowrap">governments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8341.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8692.03px;white-space:nowrap">governmental </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5220px;white-space:nowrap">entities; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5890.34px;white-space:nowrap">(iv) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6190.22px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6590.3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6940.63px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7541.02px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8351.46px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8751.8px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:9562.06px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5220px;white-space:nowrap">preferred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6000.38px;white-space:nowrap">equity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6530.71px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7390.99px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8151.5px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8641.85px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:9042.19px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5220px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5730.21px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6120.26px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6560.6px;white-space:nowrap">equity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7090.93px;white-space:nowrap">features, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7841.34px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8271.56px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8511.68px;white-space:nowrap">conversion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:9432.16px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5220px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6050.65px;white-space:nowrap">rights, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6590.83px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6800.89px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7311.09px;white-space:nowrap">carry </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7761.09px;white-space:nowrap">warrants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8501.31px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8701.44px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5220px;white-space:nowrap">common </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5960.21px;white-space:nowrap">stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6430.34px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6640.4px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7100.68px;white-space:nowrap">equity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7631.02px;white-space:nowrap">interests; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8411.31px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8761.64px;white-space:nowrap">(v) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:9021.53px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5220px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6130.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6330.76px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6730.84px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6940.9px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7541.28px;white-space:nowrap">banks, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8121.62px;white-space:nowrap">savings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8781.94px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:9132.28px;white-space:nowrap">loan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5220px;white-space:nowrap">associations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6260.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6610.87px;white-space:nowrap">bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7051.2px;white-space:nowrap">holding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7681.73px;white-space:nowrap">companies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8698.97px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:9059.15px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5220px;white-space:nowrap">maturity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5910.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6110.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6410.48px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6810.82px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7621.08px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7811.19px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8111.43px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8698.45px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:9388.83px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5950.46px;white-space:nowrap">depending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6841.32px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:7091.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:7391.78px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8312.17px;letter-spacing:0.34px;white-space:nowrap">manager&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:9206.02px;white-space:nowrap">judgment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5220px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5460.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5660.24px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6170.54px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6810.82px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7171px;white-space:nowrap">changes. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8001.56px;white-space:nowrap">With </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8411.57px;white-space:nowrap">respect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:9051.86px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:9251.98px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:9502.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:9702.33px;white-space:nowrap">35% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5420.13px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5650.14px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6040.37px;white-space:nowrap">assets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6660.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6960.85px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7421.13px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7811.19px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8331.42px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8521.52px;white-space:nowrap">dividend-paying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5220px;white-space:nowrap">common </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5960.21px;white-space:nowrap">stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6430.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6630.47px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7030.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7380.88px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7981.26px;white-space:nowrap">corporations. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:9118.56px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:9478.74px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5220px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5610.06px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5990.27px;white-space:nowrap">loan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6380.6px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6610.61px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:7300.99px;white-space:nowrap">securities.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:5580.18px;white-space:nowrap">percentage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:6530.89px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:6731.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:7031.25px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:7618.27px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:8188.51px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:8908.95px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:9099.05px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5220px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5790.32px;white-space:nowrap">abroad </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6400.81px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6751.14px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:7841.95px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:8032.06px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:8632.44px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5220px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5610.06px;white-space:nowrap">vary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6000.12px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6980.54px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7390.55px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7780.61px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7980.73px;white-space:nowrap">time, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8420.8px;white-space:nowrap">depending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:9311.66px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:9561.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5220px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5850.26px;white-space:nowrap">yield </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6270.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6470.6px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6900.82px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7761.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8061.33px;white-space:nowrap">relative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8691.59px;white-space:nowrap">appreciation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5220px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5950.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6150.67px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6580.9px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7441.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7741.41px;white-space:nowrap">state </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8181.65px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8381.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8682.01px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5720.36px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6500.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6690.85px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7201.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7501.29px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8511.68px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8821.85px;white-space:nowrap">made, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:9372.13px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5220px;letter-spacing:-0.61px;white-space:nowrap">countries&#8217; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6033.69px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6744.11px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7484.24px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7834.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8134.8px;white-space:nowrap">relationships </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:9195.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:9395.51px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5220px;letter-spacing:-0.61px;white-space:nowrap">countries&#8217; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6033.69px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6914px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7114.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7414.37px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7814.44px;letter-spacing:-1.24px;white-space:nowrap">dollar. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8394.79px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9195.12px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5220px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5860.37px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6340.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6640.93px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7561.32px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8321.75px;white-space:nowrap">deems </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8912.02px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:9052.03px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5220px;white-space:nowrap">(e.g., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5680.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5980.43px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6380.51px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6870.76px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7050.76px;white-space:nowrap">appreciating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8081.46px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8711.89px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8941.99px;white-space:nowrap">currencies), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5520.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5980.52px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6370.58px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6890.8px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7040.92px;white-space:nowrap">substantial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7951.46px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8551.85px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8751.97px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8981.98px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:9552.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5220px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5620.08px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6660.53px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7500.85px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7710.91px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8171.19px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8661.45px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5220px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6080.27px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6590.48px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7210.9px;white-space:nowrap">(i) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7420.78px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7817.61px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8571.09px;white-space:nowrap">obligations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9531.74px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5220px;letter-spacing:-0.46px;white-space:nowrap">differ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5666.92px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6047.14px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6237.25px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6637.41px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7277.7px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7777.88px;white-space:nowrap">maturities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8608.1px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8958.43px;white-space:nowrap">times </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:9438.49px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5220px;white-space:nowrap">issuance: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6030.44px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6427.27px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7180.75px;white-space:nowrap">bills </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7540.84px;white-space:nowrap">(maturities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8431px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8631.12px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8981.46px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9381.62px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9591.68px;white-space:nowrap">less), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5220px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5616.83px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6370.31px;white-space:nowrap">notes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6860.65px;white-space:nowrap">(maturities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7750.81px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7950.94px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8301.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8501.4px;white-space:nowrap">ten </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8801.63px;white-space:nowrap">years), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:9401.75px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5220px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5616.83px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6370.31px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6910.75px;white-space:nowrap">(generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7751.16px;white-space:nowrap">maturities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:8581.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:8781.5px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:9401.84px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:9802.18px;white-space:nowrap">ten </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5220px;white-space:nowrap">years), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5820.12px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6050.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6250.34px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6760.55px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7070.71px;white-space:nowrap">backed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7701.15px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7941.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8241.5px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8521.61px;white-space:nowrap">faith </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8911.85px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:9262.18px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:9752.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5520.23px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6090.56px;white-space:nowrap">States: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6700.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7051.2px;white-space:nowrap">(ii) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7301.07px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8211.71px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8782.03px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8992.09px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:5220px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:5460.12px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:5860.2px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6900.64px;white-space:nowrap">agencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7671.18px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7881.24px;white-space:nowrap">instrumentalities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:9281.78px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5420.13px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5930.33px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6240.5px;white-space:nowrap">backed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6870.94px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7111.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7411.29px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7691.4px;white-space:nowrap">faith </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8081.63px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8431.96px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8922.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:9122.26px;white-space:nowrap">the </div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:9.39px;white-space:nowrap">Important </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:914.92px;letter-spacing:10.2px;white-space:nowrap">Information </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:2001.89px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:2254.38px;letter-spacing:11px;white-space:nowrap">Shareholders</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">42</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:396.83px;letter-spacing:-2px;white-space:nowrap">Treasury, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1186.96px;white-space:nowrap">e.g., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1587.22px;white-space:nowrap">direct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2077.38px;white-space:nowrap">pass-through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3178.04px;text-rendering:optimizeLegibility;white-space:nowrap">certificates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4088.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4288.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1040.45px;white-space:nowrap">National </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1750.87px;white-space:nowrap">Mortgage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2551.38px;white-space:nowrap">Association; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3571.88px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4062.04px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4262.17px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:310.17px;white-space:nowrap">supported </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1160.77px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1400.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1701.12px;white-space:nowrap">right </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2101.29px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2301.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2601.65px;white-space:nowrap">issuer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3131.81px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3331.93px;white-space:nowrap">borrow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3932.14px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4342.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:400.08px;white-space:nowrap">Government, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1490.54px;white-space:nowrap">e.g., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1890.79px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2801.43px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3001.55px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3661.88px;white-space:nowrap">Home </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4192.03px;white-space:nowrap">Loan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">Banks; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:600.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:950.63px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1440.79px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1640.92px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2151.12px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2461.29px;white-space:nowrap">backed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3091.73px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3471.94px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3712.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4012.29px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4502.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:300.23px;white-space:nowrap">issuer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:830.39px;white-space:nowrap">itself.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:820.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1210.52px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1730.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1920.85px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2321.19px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3131.46px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3701.78px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3911.84px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:240.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:440.24px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1180.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1380.76px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2101.11px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2451.45px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3091.73px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3331.85px;white-space:nowrap">governments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:0px;white-space:nowrap">semi-governmental </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1580.63px;white-space:nowrap">entities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2200.96px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2551.29px;white-space:nowrap">governmental </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3691.93px;white-space:nowrap">agencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:200.13px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:980.51px;white-space:nowrap">throughout </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1891.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2191.46px;white-space:nowrap">world </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2671.61px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3762.42px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3952.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:0px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:880.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1080.44px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1510.66px;white-space:nowrap">countries. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2387.81px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2747.99px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3208.27px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3598.33px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3978.54px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:190.11px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:590.45px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1400.71px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1600.84px;white-space:nowrap">supra-national </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2791.58px;white-space:nowrap">entities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3461.92px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3972.13px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:4362.19px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1090.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1280.92px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1681px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2261.25px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2471.31px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2931.59px;white-space:nowrap">currencies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:820.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1210.52px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1590.73px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2110.96px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2301.06px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3111.5px;text-rendering:optimizeLegibility;white-space:nowrap">fixed-income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:810.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1010.39px;white-space:nowrap">both </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1410.73px;white-space:nowrap">domestic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2181.01px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2531.34px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3131.72px;white-space:nowrap">issuers. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3848.64px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:810.26px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1430.68px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1660.78px;white-space:nowrap">types </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2141.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2341.14px;white-space:nowrap">long- </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2791.41px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3001.46px;white-space:nowrap">short-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3871.58px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:0px;white-space:nowrap">obligations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:960.64px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:1390.87px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:1630.99px;white-space:nowrap">bonds, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2221.44px;white-space:nowrap">debentures, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3222.16px;white-space:nowrap">notes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3762.51px;white-space:nowrap">equipment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:0px;white-space:nowrap">lease </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:480.32px;text-rendering:optimizeLegibility;white-space:nowrap">certificates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1440.62px;white-space:nowrap">equipment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2331.21px;white-space:nowrap">trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2731.29px;text-rendering:optimizeLegibility;white-space:nowrap">certificates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3691.58px;white-space:nowrap">conditional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:0px;white-space:nowrap">sales </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:470.21px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1250.51px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1600.84px;white-space:nowrap">commercial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2570.98px;white-space:nowrap">paper </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3081.36px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3901.82px;white-space:nowrap">obligations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:0px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:430.22px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:670.34px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1620.88px;white-space:nowrap">agreements, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2671.44px;white-space:nowrap">secured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3361.82px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3601.93px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;white-space:nowrap">instruments) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1040.27px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1250.33px;white-space:nowrap">preferred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2030.71px;white-space:nowrap">stock. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2547.6px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2907.77px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3368.06px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3758.12px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:4278.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:0px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:340.22px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:740.57px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1410.73px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1710.97px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1901.07px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2491.52px;white-space:nowrap">rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2951.81px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3351.88px;letter-spacing:-2.48px;white-space:nowrap">AAA </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3752.14px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3952.27px;white-space:nowrap">CC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:4262.26px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">Standard </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:780.56px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:950.63px;letter-spacing:0.49px;white-space:nowrap">Poor&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1514.27px;white-space:nowrap">Corporation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2504.79px;white-space:nowrap">(&#8220;S&amp;P&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3154.75px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3364.8px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3764.88px;white-space:nowrap">Aaa </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:4135.17px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:4335.29px;white-space:nowrap">Ca </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:4615.4px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;letter-spacing:-0.41px;white-space:nowrap">Moody&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:717.01px;white-space:nowrap">Investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1497.3px;white-space:nowrap">Service, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2197.53px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2537.67px;letter-spacing:-0.27px;white-space:nowrap">(&#8220;Moody&#8217;s&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3494.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3844.78px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:0px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:510.21px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:820.37px;white-space:nowrap">unrated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1480.87px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1720.99px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2061.21px;white-space:nowrap">rating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2561.48px;white-space:nowrap">agency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3191.92px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3492.16px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:4002.36px;white-space:nowrap">are, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:190.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:490.34px;white-space:nowrap">opinion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1120.87px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1321px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1621.23px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2541.62px;letter-spacing:-1.1px;white-space:nowrap">manager, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3342.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3542.26px;white-space:nowrap">comparable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:0px;letter-spacing:-1.48px;white-space:nowrap">quality. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:656.98px;white-space:nowrap">It </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:807.01px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:987.01px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1287.25px;white-space:nowrap">expected, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2117.81px;letter-spacing:-1.1px;white-space:nowrap">however, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2888.26px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3238.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3538.74px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3999.02px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:4298.99px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:190.11px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:740.48px;white-space:nowrap">yielding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1400.89px;white-space:nowrap">lower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1881.04px;white-space:nowrap">rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2341.32px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2551.38px;white-space:nowrap">unrated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3211.88px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4022.31px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:0px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:810.26px;white-space:nowrap">unless </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1380.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1680.82px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2601.21px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3361.64px;white-space:nowrap">believes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:4072.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:4372.29px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:200.13px;white-space:nowrap">investing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:960.56px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1150.66px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1580.89px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2391.15px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2701.32px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3001.55px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3981.97px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:0px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:400.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:700.58px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1120.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1320.64px;white-space:nowrap">investing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2081.07px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2271.18px;white-space:nowrap">higher </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2821.55px;white-space:nowrap">rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3281.84px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:4092.28px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:820.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1210.52px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1730.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1920.85px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2831.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3031.61px;white-space:nowrap">domestic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3801.88px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:4152.22px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:0px;white-space:nowrap">banks, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:580.34px;white-space:nowrap">savings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1240.66px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1591px;white-space:nowrap">loan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1981.32px;white-space:nowrap">associations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3071.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3422.2px;white-space:nowrap">bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3862.53px;white-space:nowrap">holding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:0px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:920.48px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:1740.94px;text-rendering:optimizeLegibility;white-space:nowrap">certificates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2651.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2851.35px;white-space:nowrap">deposit, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3531.8px;letter-spacing:-0.74px;white-space:nowrap">bankers&#8217; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:0px;white-space:nowrap">acceptances </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:1060.66px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:1411px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:1871.28px;white-space:nowrap">short-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:2741.4px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:3141.74px;white-space:nowrap">obligations) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:4112.31px;white-space:nowrap">which, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:0px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:500.36px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:900.7px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:1100.83px;white-space:nowrap">investment, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2071.23px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2511.56px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2901.8px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3472.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3662.14px;white-space:nowrap">excess </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:4272.36px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:4472.49px;white-space:nowrap">$1 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:0px;white-space:nowrap">billion. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:610.31px;white-space:nowrap">Under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1150.58px;white-space:nowrap">normal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1750.78px;white-space:nowrap">circumstances, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3001.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3301.35px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3761.63px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:4281.94px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:0px;white-space:nowrap">expect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:580.34px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:780.47px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:1300.69px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:1450.81px;white-space:nowrap">substantial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2361.36px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2961.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:3161.87px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:3391.88px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:3962.11px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:4152.22px;white-space:nowrap">bank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:0px;white-space:nowrap">obligations. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:1010.65px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:1810.99px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:1951px;white-space:nowrap">short-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:2821.11px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:3461.4px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:3911.57px;white-space:nowrap">exceed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:0px;white-space:nowrap">long-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:810.26px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1450.55px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1950.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2250.97px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2711.25px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3101.31px;white-space:nowrap">hold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3491.63px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3641.75px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:0px;white-space:nowrap">proportion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:860.54px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1060.66px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1290.67px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1860.91px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2051.02px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2541.36px;white-space:nowrap">instruments.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:0px;white-space:nowrap">When </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:520.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:820.46px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:1740.85px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:2501.28px;white-space:nowrap">believes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:3211.7px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:3561.94px;white-space:nowrap">investing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:4322.37px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:0px;white-space:nowrap">temporary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:860.27px;white-space:nowrap">defensive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:1680.82px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:2471.31px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:2651.31px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:3611.95px;white-space:nowrap">(such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:4102.12px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:0px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:550.37px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:1190.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:1390.87px;white-space:nowrap">unusual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:2071.41px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:2671.52px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:3532.06px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:3742.12px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:4222.44px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:0px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:180px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:1100.65px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:1450.9px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:2091.18px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:2541.36px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:2841.33px;white-space:nowrap">rise), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:3291.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:3591.56px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11948.64px;left:4051.85px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5740.22px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5990.45px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6190.58px;white-space:nowrap">100% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6700.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6901.08px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7131.09px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7521.33px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8091.56px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8281.67px;white-space:nowrap">money </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8871.94px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6080.27px;white-space:nowrap">denominated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7171.08px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7361.19px;white-space:nowrap">dollars </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7941.45px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8151.5px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8341.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8641.85px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9382.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9582.19px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5820.38px;letter-spacing:-1.48px;white-space:nowrap">country, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6497.31px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7067.64px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7307.75px;white-space:nowrap">entities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7928.09px;white-space:nowrap">organized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8768.67px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8958.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9259.01px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9659.09px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5560.22px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6160.61px;letter-spacing:-1.48px;white-space:nowrap">country, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6837.54px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7267.76px;white-space:nowrap">as: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7557.89px;white-space:nowrap">short-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8428.01px;white-space:nowrap">(less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8858.06px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9258.4px;white-space:nowrap">twelve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">months </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5860.28px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6060.41px;white-space:nowrap">maturity), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6860.48px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7210.81px;white-space:nowrap">medium-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8320.96px;white-space:nowrap">(not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8681.13px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9301.46px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9701.81px;text-rendering:optimizeLegibility;white-space:nowrap">five </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5710.17px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5910.29px;white-space:nowrap">maturity) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6660.35px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7570.99px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8141.31px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8351.37px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9312.19px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9552.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5620.08px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6660.53px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6870.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7170.82px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8171.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8371.49px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8521.61px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9121.99px;letter-spacing:-1.48px;white-space:nowrap">country, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5220px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5620.17px;white-space:nowrap">agencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6390.7px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6600.76px;white-space:nowrap">instrumentalities; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8001.3px;text-rendering:optimizeLegibility;white-space:nowrap">finance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8631.74px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9412.12px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5220px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6030.44px;white-space:nowrap">commercial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7000.58px;letter-spacing:-1.42px;white-space:nowrap">paper, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7551.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7901.37px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8361.65px;white-space:nowrap">short-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:9231.77px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5220px;white-space:nowrap">obligations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6180.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6370.75px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6811.08px;white-space:nowrap">case </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7241.31px;white-space:nowrap">rated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7701.59px;white-space:nowrap">Prime-1 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8381.69px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8591.75px;white-space:nowrap">Prime-2 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9271.85px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5220px;letter-spacing:-0.41px;white-space:nowrap">Moody&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5937.01px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6137.14px;white-space:nowrap">A-2 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6467.26px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6677.31px;white-space:nowrap">better </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7187.61px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7427.72px;letter-spacing:-0.81px;white-space:nowrap">S&amp;P </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7834.66px;letter-spacing:-2.48px;white-space:nowrap">or, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8084.79px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8224.8px;white-space:nowrap">unrated, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8935.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:9135.44px;white-space:nowrap">comparable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:5220px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:5790.32px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6030.44px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6980.98px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7221.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7521.33px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:8441.72px;white-space:nowrap">manager; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:5220px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6130.63px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6951.09px;text-rendering:optimizeLegibility;white-space:nowrap">certificates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:7861.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8061.5px;white-space:nowrap">deposit, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8741.95px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:9132.01px;white-space:nowrap">deposits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:5570.33px;letter-spacing:-0.74px;white-space:nowrap">bankers&#8217; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6294.02px;white-space:nowrap">acceptances) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7414.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7614.76px;white-space:nowrap">banks; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:8195.1px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:8545.43px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5220px;white-space:nowrap">agreements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6220.55px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6590.65px;white-space:nowrap">banks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7120.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7471.32px;white-space:nowrap">broker-dealers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:8681.84px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9051.94px;white-space:nowrap">respect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9692.23px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5220px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5650.22px;white-space:nowrap">securities.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6040.46px;white-space:nowrap">invests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6650.68px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6840.79px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7661.16px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8371.58px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:9351.91px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5220px;white-space:nowrap">order </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5690.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5890.34px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6590.83px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6920.77px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7130.83px;white-space:nowrap">gain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7521.15px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8311.64px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8511.77px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:9142.03px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5220px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6230.39px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6440.45px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7230.59px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7430.71px;white-space:nowrap">seeking </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8101.14px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8301.27px;white-space:nowrap">protect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8901.56px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:9532px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5220px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5707px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5907.13px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6637.68px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6827.78px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7568px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8398.65px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8848.83px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:9058.89px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5220px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5670.18px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6020.42px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6330.59px;white-space:nowrap">adverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7020.97px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7221.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7521.33px;white-space:nowrap">present </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8171.72px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8381.78px;white-space:nowrap">prospective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:9352.27px;white-space:nowrap">position </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5720.36px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6230.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6530.89px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6991.17px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:7381.23px;white-space:nowrap">employ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8011.49px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8601.77px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8931.71px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5220px;white-space:nowrap">practices, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6040.28px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6800.8px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7451.02px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8191.23px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:9211.73px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5220px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6240.5px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6430.61px;white-space:nowrap">options, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7111.05px;white-space:nowrap">futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7711.35px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8061.68px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8692.12px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8942.34px;white-space:nowrap">futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:9542.64px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5220px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5620.08px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5970.41px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6570.79px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7571.34px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:8381.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:8731.93px;white-space:nowrap">currencies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5220px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5420.13px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6150.67px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6340.78px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6591.01px;letter-spacing:-0.46px;white-space:nowrap">effort </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:7047.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:7248.08px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:7978.45px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8588.67px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:9218.94px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:9569.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5220px;white-space:nowrap">reduce </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5820.38px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:6780.94px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:6971.04px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:7271.28px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:7751.51px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:8281.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:8582.08px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:9042.36px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:9432.42px;white-space:nowrap">write </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5220px;white-space:nowrap">put </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5520.23px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:5870.57px;white-space:nowrap">call </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:6190.66px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:6821.1px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:7171.44px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:7961.92px;white-space:nowrap">put </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:8262.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:8612.49px;white-space:nowrap">call </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:8932.59px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:9563.03px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:5220px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:6030.26px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:6380.51px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:6690.67px;white-space:nowrap">traded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:7251.06px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:7501.29px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:8071.61px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:8631.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:8982.25px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5220px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:6030.26px;white-space:nowrap">exchanges </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:6950.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7301.25px;white-space:nowrap">over-the-counter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8671.9px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:9362.02px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:9712.35px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:5220px;white-space:nowrap">domestic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:5990.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6340.61px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6940.99px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:7751.25px;white-space:nowrap">indices. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6040.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6430.52px;white-space:nowrap">enter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6890.8px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7231.03px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8011.32px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8271.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8571.62px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:9362.11px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:9572.17px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5220px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5480.07px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5990.36px;white-space:nowrap">delivery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6660.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6860.74px;text-rendering:optimizeLegibility;white-space:nowrap">fixed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7290.97px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7921.23px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8731.49px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8941.55px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5220px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5760.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6010.66px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6721.08px;white-space:nowrap">indices, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7381.41px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8141.92px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8482.15px;white-space:nowrap">index </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8962.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9162.6px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9562.68px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5220px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5820.38px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6820.93px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7631.19px;white-space:nowrap">(&#8220;Futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8411.31px;white-space:nowrap">Contracts&#8221;). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:9398.23px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5680.28px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6070.34px;white-space:nowrap">enter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6530.62px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6870.85px;white-space:nowrap">Futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7531.08px;white-space:nowrap">Contracts, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8401.38px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8911.58px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:9221.75px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:9762.19px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5220px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5620.34px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6430.61px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6780.85px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7091.02px;white-space:nowrap">backed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7721.46px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7961.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8261.81px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8541.91px;white-space:nowrap">faith </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8932.15px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:9282.48px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5720.36px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6120.44px;white-space:nowrap">Government, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7210.9px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7641.12px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7881.24px;white-space:nowrap">long-term </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8691.5px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:9088.33px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5220px;white-space:nowrap">Bonds, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5827.15px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6580.63px;white-space:nowrap">Notes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7150.87px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8191.32px;white-space:nowrap">National </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8901.74px;white-space:nowrap">Mortgage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5220px;white-space:nowrap">Association </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6190.49px;text-rendering:optimizeLegibility;white-space:nowrap">modified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6920.86px;white-space:nowrap">pass-through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8021.51px;white-space:nowrap">mortgage-backed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5220px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6030.26px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6380.6px;white-space:nowrap">three-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7401.09px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7797.92px;letter-spacing:-0.74px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8551.41px;white-space:nowrap">Bills. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9028.21px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9388.39px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5220px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5610.06px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5990.27px;white-space:nowrap">enter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6450.56px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6790.78px;white-space:nowrap">Futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7451.02px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8271.3px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8781.5px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:9091.67px;white-space:nowrap">based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5220px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5470.22px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6280.66px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7090.93px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7441.26px;white-space:nowrap">non-U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:8201.6px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:9242.05px;white-space:nowrap">bonds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6040.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6430.52px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7221.01px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7571.34px;white-space:nowrap">write </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8001.39px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8631.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8831.95px;white-space:nowrap">buy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:9172.18px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:9382.24px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5220px;white-space:nowrap">Futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5880.23px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6700.52px;white-space:nowrap">(&#8220;Options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7490.74px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7740.97px;white-space:nowrap">Futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8401.2px;white-space:nowrap">Contracts&#8221;). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:9391.38px;white-space:nowrap">Futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:5220px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6040.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6390.62px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7060.96px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7311.18px;white-space:nowrap">Futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7971.42px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:8791.7px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:9101.87px;white-space:nowrap">designed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5420.13px;white-space:nowrap">hedge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5970.67px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6601.11px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7521.77px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8032.06px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8762.61px;white-space:nowrap">in </div><div style="font-family:Arial, 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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:830.65px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1280.83px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1791.04px;white-space:nowrap">otherwise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2611.41px;white-space:nowrap">might </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3101.57px;white-space:nowrap">either </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3601.85px;white-space:nowrap">adversely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4422.22px;letter-spacing:-0.46px;white-space:nowrap">affect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:300.23px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:780.56px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:980.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1280.92px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1867.94px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2558.32px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3368.58px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3578.64px;white-space:nowrap">adversely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4399.01px;letter-spacing:-0.46px;white-space:nowrap">affect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:300.23px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:830.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1030.52px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1840.78px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2350.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2651.22px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3111.5px;white-space:nowrap">intends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3741.94px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3942.07px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:200.13px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:350.24px;white-space:nowrap">later </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:750.41px;white-space:nowrap">date. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1247.52px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1607.7px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2138.03px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2334.9px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3078.46px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3438.63px;white-space:nowrap">&#8220;Board&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4148.79px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">adopted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:700.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1000.9px;white-space:nowrap">requirement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2011.38px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2361.62px;white-space:nowrap">Futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3021.86px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3842.14px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4192.47px;white-space:nowrap">Options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:250.22px;white-space:nowrap">Futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:910.46px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1730.74px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2110.96px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2361.18px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2801.51px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3041.63px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3191.75px;white-space:nowrap">hedge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3742.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4092.63px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4392.86px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">speculation. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1060.66px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1260.79px;white-space:nowrap">addition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1941.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2141.46px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2471.57px;white-space:nowrap">requirement, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3532.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3832.29px;white-space:nowrap">aggregate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:600.12px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1080.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1280.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1580.8px;white-space:nowrap">Futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2241.04px;white-space:nowrap">Contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3061.32px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3451.64px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3691.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3991.99px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:4452.28px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:0px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:300.23px;white-space:nowrap">exceed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:930.67px;white-space:nowrap">35% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:1340.95px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:1541.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:1841.31px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2441.43px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2921.75px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3121.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3422.11px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3812.34px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:4382.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:4582.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:0px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:820.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1210.52px;white-space:nowrap">write </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1640.57px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2271.01px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2461.11px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3381.77px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3751.88px;white-space:nowrap">buy-and-write </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">transactions; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1070.51px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1420.75px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1600.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1900.99px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2361.27px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2751.33px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3541.82px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3691.93px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:4362.1px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:400.34px;white-space:nowrap">write </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:830.39px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:980.51px;white-space:nowrap">call </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1300.61px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1841.04px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2471.48px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2821.73px;letter-spacing:-1.34px;white-space:nowrap">security. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3525.29px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3885.47px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4345.75px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:0px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:790.49px;white-space:nowrap">put </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1090.72px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1721.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1921.29px;white-space:nowrap">hedge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2471.84px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3102.28px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3252.39px;white-space:nowrap">decline </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3872.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:4062.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:4363.15px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:200.13px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:430.14px;white-space:nowrap">portfolio. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1167.28px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1527.45px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1987.73px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2377.79px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3168.28px;white-space:nowrap">call </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3488.38px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:4118.82px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:4318.95px;white-space:nowrap">hedge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:0px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:630.44px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:880.66px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1611.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1801.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2101.38px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2541.53px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2741.66px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3551.92px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3902.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:4202.4px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:0px;white-space:nowrap">anticipates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:910.55px;white-space:nowrap">purchasing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1841.13px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2031.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2331.47px;white-space:nowrap">future. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:320.01px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1110.5px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1310.63px;white-space:nowrap">pursuing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2051.1px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2281.11px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3201.5px;white-space:nowrap">goals, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3731.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:4032.07px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:0px;white-space:nowrap">regularly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:740.3px;white-space:nowrap">enters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1290.59px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1630.81px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2261.07px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3001.29px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3601.67px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:0px;white-space:nowrap">involving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:750.41px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1570.78px;white-space:nowrap">instruments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2601.12px;white-space:nowrap">principally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3451.46px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:4191.68px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;white-space:nowrap">cross </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:480.06px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1220.27px;white-space:nowrap">forwards, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2010.5px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2310.73px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2450.74px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2840.8px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3221.02px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3561.24px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:4301.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:0px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:740.21px;white-space:nowrap">index </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1220.54px;white-space:nowrap">futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1820.83px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2601.12px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2951.46px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3691.67px;white-space:nowrap">options. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:820.46px;white-space:nowrap">maintains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1640.83px;white-space:nowrap">extensive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2451.27px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3211.7px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3401.81px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;white-space:nowrap">related </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:600.38px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1420.75px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2401.08px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2641.2px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2791.32px;white-space:nowrap">hedging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3481.96px;white-space:nowrap">technique </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:4312.62px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:200.13px;white-space:nowrap">implement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1080.44px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1230.56px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1970.77px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2891.16px;letter-spacing:-1.34px;white-space:nowrap">strategy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3618.11px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:4128.31px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:0px;white-space:nowrap">expose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:630.44px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:780.56px;white-space:nowrap">large </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1230.82px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1881.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2081.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2381.57px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2968.59px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3538.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3738.96px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:0px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:510.38px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1000.72px;white-space:nowrap">instruments. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2027.81px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2387.99px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2968.15px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3168.28px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3598.51px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:0px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:390.06px;white-space:nowrap">represent, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1250.51px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1660.52px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2050.58px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2250.7px;white-space:nowrap">time, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2690.77px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2840.89px;white-space:nowrap">large </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3291.15px;white-space:nowrap">component </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4231.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:300.23px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:887.26px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1807.65px;white-space:nowrap">returns. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2464.63px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2824.8px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3165.03px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3365.16px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3855.5px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:0px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1020.5px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1410.56px;white-space:nowrap">allow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1870.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2170.99px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2631.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2831.4px;white-space:nowrap">obtain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3371.84px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3672.07px;white-space:nowrap">long </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:4062.39px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:4272.45px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:0px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:730.55px;white-space:nowrap">(short) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1300.61px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2091.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2291.22px;white-space:nowrap">selected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3011.66px;white-space:nowrap">currencies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3938.73px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:4298.91px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:380.21px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:770.27px;white-space:nowrap">enter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1230.56px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1570.78px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2201.04px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2661.33px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3681.83px;white-space:nowrap">involving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:0px;white-space:nowrap">derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:910.37px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1320.38px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1710.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1910.57px;white-space:nowrap">time, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2350.63px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3111.15px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3751.44px;white-space:nowrap">rate/bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:0px;white-space:nowrap">futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:600.29px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1380.59px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2201.04px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2691.39px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2941.61px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3942.16px;white-space:nowrap">securities) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:350.33px;white-space:nowrap">swap </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:820.55px;white-space:nowrap">agreements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1821.09px;white-space:nowrap">(which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2391.24px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2781.3px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3401.72px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3891.88px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:0px;white-space:nowrap">swaps, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:610.22px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1350.44px;white-space:nowrap">swaps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1910.65px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2260.99px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2901.27px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3261.45px;white-space:nowrap">swaps). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3928.36px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:4288.54px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:200.13px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:690.47px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1510.84px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2531.34px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2921.4px;white-space:nowrap">allow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3381.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3681.83px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:4142.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:0px;white-space:nowrap">obtain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:540.44px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:840.67px;white-space:nowrap">long </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1231px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1441.05px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1741.29px;white-space:nowrap">short </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2191.46px;white-space:nowrap">exposures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3071.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3272.08px;white-space:nowrap">selected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3992.52px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:0px;white-space:nowrap">rates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:500.19px;white-space:nowrap">countries, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1330.58px;white-space:nowrap">duration </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2031.06px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2241.12px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2731.29px;white-space:nowrap">risks, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3201.24px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3411.3px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3801.36px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4051.58px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4491.91px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:0px;white-space:nowrap">hedging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:690.64px;white-space:nowrap">purposes.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:0px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:160.14px;white-space:nowrap">call </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:480.23px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1020.67px;white-space:nowrap">gives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1490.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1791.12px;white-space:nowrap">purchaser </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2641.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2841.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3141.91px;white-space:nowrap">option, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3732.36px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:0px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:740.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:940.52px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1090.63px;white-space:nowrap">premium, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1890.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2191.03px;white-space:nowrap">right </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2591.19px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:2791.32px;letter-spacing:-2.67px;white-space:nowrap">buy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3168.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3518.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:3818.76px;white-space:nowrap">seller </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:4298.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:0px;white-space:nowrap">obligation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:820.63px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1020.76px;white-space:nowrap">sell, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1390.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:1691.1px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:2571.68px;white-space:nowrap">instrument </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3462.01px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3662.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11018.64px;left:3962.37px;white-space:nowrap">exercise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:0px;white-space:nowrap">price. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:490.17px;letter-spacing:-1.11px;white-space:nowrap">Conversely, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1477.18px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1627.29px;white-space:nowrap">put </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:1927.53px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:2467.97px;white-space:nowrap">gives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:2938.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:3238.42px;white-space:nowrap">purchaser </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:4088.85px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11268.64px;left:4288.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:0px;white-space:nowrap">option, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:590.45px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1040.89px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1781.28px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:1981.41px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:2131.52px;white-space:nowrap">premium, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:2931.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3231.91px;white-space:nowrap">right </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3632.08px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:3832.21px;white-space:nowrap">sell, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11518.64px;left:4202.31px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:300.23px;white-space:nowrap">seller </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:780.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:980.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1280.74px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:1821.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:2121.42px;white-space:nowrap">obligation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:2942.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:3142.18px;letter-spacing:-2.67px;white-space:nowrap">buy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:3519.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11768.64px;left:3819.29px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">instrument </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6110.33px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6310.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6610.69px;white-space:nowrap">exercise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7330.96px;white-space:nowrap">price. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7821.12px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8141.13px;white-space:nowrap">example, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8921.51px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9401.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6140.39px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6900.82px;white-space:nowrap">expects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7571.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7871.4px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8311.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8511.68px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8661.8px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9402.01px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">decline </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5840.42px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6030.53px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6560.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6861.09px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7321.38px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7711.44px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8501.92px;white-space:nowrap">put </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8802.16px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9432.6px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9782.84px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">expected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6000.56px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6200.68px;white-space:nowrap">increase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6931.05px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7121.16px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7601.48px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7841.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8141.84px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8581.99px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8782.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9082.35px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">declines </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5930.42px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6130.55px;white-space:nowrap">hedge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6681.09px;white-space:nowrap">against </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7311.53px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7741.76px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8662.41px;white-space:nowrap">decline </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9282.83px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9472.94px;white-space:nowrap">value.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6040.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6430.52px;white-space:nowrap">enter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6890.8px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7231.03px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7881.24px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8481.62px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:9221.84px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5220px;white-space:nowrap">(&#8220;Forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6050.04px;white-space:nowrap">Contracts&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6990.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7190.33px;white-space:nowrap">attempt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7840.63px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8040.76px;white-space:nowrap">minimize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8800.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9101.07px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9431.02px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9631.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5680.28px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6090.29px;white-space:nowrap">adverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6780.67px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7511.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7701.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8001.56px;white-space:nowrap">relationship </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8972.14px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9702.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5620.08px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6110.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6460.66px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7061.04px;white-space:nowrap">currencies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8041.38px;white-space:nowrap">Because </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8791.88px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8981.98px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5590.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5890.34px;letter-spacing:-1.11px;white-space:nowrap">Fund&#8217; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6383.94px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6984.32px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7724.53px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8374.75px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:9395.24px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5220px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5870.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6070.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6370.75px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6957.77px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7528.01px;white-space:nowrap">equal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8018.44px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8218.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8518.8px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:9169.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:9369.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6010.49px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6310.46px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6560.68px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6951.01px;white-space:nowrap">aside </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7431.33px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7641.39px;white-space:nowrap">segregated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8592.1px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8792.23px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9042.45px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9482.78px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9682.91px;white-space:nowrap">pay </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5480.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5780.3px;white-space:nowrap">commitment, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6860.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7160.71px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7621px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7920.97px;white-space:nowrap">always </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8521.17px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8961.5px;white-space:nowrap">cash, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:9441.74px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5220px;white-space:nowrap">equivalents </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6180.64px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6390.7px;white-space:nowrap">high-quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7361.28px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7761.62px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8571.88px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:9332.4px;text-rendering:optimizeLegibility;white-space:nowrap">sufficient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5420.13px;white-space:nowrap">cover </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5910.29px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6250.52px;white-space:nowrap">commitments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7370.68px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7881.06px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8371.41px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:9151.7px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:9361.76px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:9561.88px;white-space:nowrap">limit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5220px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5560.22px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6290.77px;white-space:nowrap">risk. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6717.48px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7077.66px;white-space:nowrap">segregated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8028.37px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8708.82px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:9008.79px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:9259.01px;white-space:nowrap">marked-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5220px;white-space:nowrap">to-market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6030.18px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6280.4px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6430.52px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6850.72px;white-space:nowrap">basis.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6040.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6430.52px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:6810.73px;white-space:nowrap">conduct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7491.18px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:7721.19px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:8321.57px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:9061.79px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:5220px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6240.5px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6490.72px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:6640.84px;white-space:nowrap">spot </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7031.07px;white-space:nowrap">(i.e., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7431.15px;white-space:nowrap">cash) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:7921.32px;white-space:nowrap">basis </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8391.53px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8591.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:8891.89px;white-space:nowrap">spot </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:9282.13px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:5220px;white-space:nowrap">prevailing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6040.46px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6230.57px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:6530.8px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7131.18px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:7871.4px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:8702.05px;white-space:nowrap">market.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:6040.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:6430.52px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:6810.73px;white-space:nowrap">enter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:7271.02px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:7611.24px;white-space:nowrap">swap </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:8081.46px;white-space:nowrap">agreements. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:9128.76px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:9488.94px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:5220px;white-space:nowrap">authorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:6110.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:6410.83px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:6871.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:7071.24px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:7411.46px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:8081.89px;white-space:nowrap">index </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:8562.22px;white-space:nowrap">swaps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:9122.43px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:9312.54px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:5220px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:5870.39px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:6120.62px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:6320.74px;white-space:nowrap">5% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:6630.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:6831.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:7131.27px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:7718.29px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:8018.53px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:8588.76px;white-space:nowrap">(as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:8888.82px;white-space:nowrap">measured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:9739.25px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:5220px;white-space:nowrap">notional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:5900.54px;white-space:nowrap">value), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:6490.81px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:6841.14px;white-space:nowrap">consistent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:7701.59px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:8071.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:8371.93px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:8958.96px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:5220px;white-space:nowrap">goal, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:5660.33px;white-space:nowrap">approved </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:6460.93px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:6611.04px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:7251.59px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:7441.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:7741.93px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:8328.96px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:9249.35px;white-space:nowrap">policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:9899.65px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:5220px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:5840.42px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:6270.64px;white-space:nowrap">authority </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:7011.04px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:7211.16px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:7551.39px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:8221.82px;white-space:nowrap">index </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:8702.14px;white-space:nowrap">swaps. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:9309.11px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:9669.29px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:5220px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:5610.06px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:6130.28px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:6320.39px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:6810.56px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:7401.01px;white-space:nowrap">swaps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:7961.22px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:8221.29px;white-space:nowrap">hedging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7018.64px;left:8911.93px;white-space:nowrap">purposes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:5570.33px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:5950.55px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:6210.62px;text-rendering:optimizeLegibility;white-space:nowrap">efficient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:6880.96px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:7571.34px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:8671.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:9022.32px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7268.64px;left:9222.45px;white-space:nowrap">broaden </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:5220px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:6140.39px;white-space:nowrap">opportunities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:7267.85px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:7628.03px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:8088.31px;white-space:nowrap">enters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:8638.59px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:8978.82px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7518.64px;left:9619.1px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:5220px;white-space:nowrap">swap </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:5690.21px;white-space:nowrap">contracts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:6470.51px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:7250.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:7441.08px;white-space:nowrap">order </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:7911.3px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:8111.43px;white-space:nowrap">manage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:8811.91px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7768.64px;left:9452.2px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:5220px;white-space:nowrap">risk. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:5599.95px;letter-spacing:-1.21px;white-space:nowrap">Generally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:6456.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:6757.21px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:7217.49px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:7607.55px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:8398.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:8748.37px;white-space:nowrap">write </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:9178.42px;white-space:nowrap">(sell) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:9618.4px;white-space:nowrap">both </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:5220px;white-space:nowrap">put </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:5520.23px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:5870.57px;white-space:nowrap">call </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:6190.66px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:6821.1px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:7071.33px;white-space:nowrap">swap </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:7541.54px;white-space:nowrap">agreements, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:8592.1px;white-space:nowrap">commonly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:9462.3px;white-space:nowrap">known </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:5220px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:5460.12px;white-space:nowrap">swaptions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:6360.56px;white-space:nowrap">although </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:7101.21px;white-space:nowrap">currently </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:7841.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:8141.66px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:8601.94px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:8982.16px;white-space:nowrap">intends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:9612.6px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:5220px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:6010.49px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:6640.93px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:6891.15px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:7531.44px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:7891.61px;white-space:nowrap">swaps. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:8498.58px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:8858.76px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:9319.04px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:9709.1px;white-space:nowrap">buy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:5220px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:5850.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:6100.66px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:6740.95px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:7101.12px;white-space:nowrap">swaps </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:7661.34px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:7861.46px;white-space:nowrap">help </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:8251.79px;white-space:nowrap">hedge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:8802.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:9102.57px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:9687.22px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:5420.13px;white-space:nowrap">potentially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:6280.66px;white-space:nowrap">rising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:6760.81px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:7401.09px;white-space:nowrap">rates. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:7898.03px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:8258.2px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:8718.49px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:9108.54px;white-space:nowrap">enter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:9568.83px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:5220px;white-space:nowrap">repurchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:6170.54px;white-space:nowrap">agreements. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:7217.84px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:7578.02px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:8038.3px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:8428.36px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:9218.85px;white-space:nowrap">options </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:5220px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:5470.22px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:6110.51px;white-space:nowrap">rate/bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:6921.12px;white-space:nowrap">futures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:7521.42px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:7721.54px;white-space:nowrap">help </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:8111.87px;white-space:nowrap">hedge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:8662.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:8962.65px;white-space:nowrap">Fund&#39;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:9547.29px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:9877.24px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:5220px;white-space:nowrap">potentially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:6080.54px;white-space:nowrap">rising </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:6560.68px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:7200.97px;white-space:nowrap">rates. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:6040.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:6430.52px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:6950.74px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:7200.97px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:7401.09px;white-space:nowrap">10% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:7811.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:8011.49px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:8241.5px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:8811.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:9001.85px;white-space:nowrap">municipal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:5220px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:6030.26px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:6510.59px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:6810.82px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:7731.21px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:8491.64px;white-space:nowrap">believes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:9202.06px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:9342.07px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:5220px;white-space:nowrap">advisable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:6030.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:6230.65px;white-space:nowrap">do </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:6480.88px;white-space:nowrap">so. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:6771.01px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:6971.13px;white-space:nowrap">trying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:7461.3px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:7661.43px;white-space:nowrap">achieve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:8331.86px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:8561.87px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:9482.26px;white-space:nowrap">goals, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:5520.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:5980.52px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:6370.58px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:6890.8px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:7080.91px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:7571.07px;white-space:nowrap">linked </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:8091.39px;white-space:nowrap">notes. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:8628.49px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:8988.66px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:9448.95px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:5220px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:6010.49px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:6820.75px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:7070.98px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:7221.09px;white-space:nowrap">when-issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:8281.67px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:8491.73px;white-space:nowrap">delayed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:9172.27px;white-space:nowrap">delivery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:5220px;white-space:nowrap">basis, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:5740.22px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:6110.33px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:6850.72px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:7201.05px;white-space:nowrap">delivery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:7871.31px;white-space:nowrap">scheduled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:8741.95px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:9002.02px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:9152.14px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:9662.43px;white-space:nowrap">date. </div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:0px;letter-spacing:9.39px;white-space:nowrap">Important </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:914.92px;letter-spacing:10.2px;white-space:nowrap">Information </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:2001.89px;letter-spacing:7.24px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:2254.38px;letter-spacing:11px;white-space:nowrap">Shareholders</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">44</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:820.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1210.52px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1730.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1920.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2221.08px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2911.29px;white-space:nowrap">Institutional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3871.85px;white-space:nowrap">Fiduciary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:453.34px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1043.61px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1643.73px;white-space:nowrap">Portfolio, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2404.07px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2654.3px;white-space:nowrap">open-end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3465px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:780.38px;white-space:nowrap">managed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1580.98px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1821.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2121.33px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3041.72px;letter-spacing:-1.1px;white-space:nowrap">manager. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:820.46px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1210.52px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1730.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1920.85px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2441.16px;white-space:nowrap">Interbank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3241.67px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3782.11px;white-space:nowrap">traded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:4342.5px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:300.23px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:820.55px;white-space:nowrap">Interbank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1621.05px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2091.45px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2691.56px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3352.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3652.29px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4172.61px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4322.72px;white-space:nowrap">Hong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:0px;white-space:nowrap">Kong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:470.39px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:940.78px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1661.22px;white-space:nowrap">program. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2428.24px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2788.42px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3248.7px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3638.76px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:4158.98px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:4349.09px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:0px;white-space:nowrap">Interbank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:800.51px;white-space:nowrap">bonds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1340.95px;white-space:nowrap">traded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1901.34px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2151.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2451.8px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2972.11px;white-space:nowrap">Interbank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3772.62px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:4243.01px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:0px;white-space:nowrap">(&#8220;CIBM&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:739.78px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1400.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1700.51px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2220.82px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2370.94px;white-space:nowrap">Hong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2851.26px;white-space:nowrap">Kong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3321.65px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3792.04px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:0px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:720.26px;white-space:nowrap">(&#8220;Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1310.54px;white-space:nowrap">Connect&#8221;). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2200.87px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2401px;white-space:nowrap">China, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2971.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3271.55px;white-space:nowrap">Hong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3751.88px;white-space:nowrap">Kong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">Monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:790.4px;white-space:nowrap">Authority </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1550.74px;white-space:nowrap">Central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2181.01px;white-space:nowrap">Money </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2771.28px;white-space:nowrap">Markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3461.4px;white-space:nowrap">Unit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3831.5px;white-space:nowrap">holds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:4311.83px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:0px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:720.44px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1530.7px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1780.93px;white-space:nowrap">behalf </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2321.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2521.49px;white-space:nowrap">ultimate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3201.77px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3972.04px;white-space:nowrap">(such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:540.35px;white-space:nowrap">Fund) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1060.58px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1250.68px;white-space:nowrap">accounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2021.13px;white-space:nowrap">maintained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2951.72px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3321.83px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3471.94px;white-space:nowrap">China-based </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">custodian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:820.55px;white-space:nowrap">(either </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1380.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1681px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2201.31px;white-space:nowrap">Central </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2831.57px;white-space:nowrap">Depository </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3741.94px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3912.01px;white-space:nowrap">Clearing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:0px;white-space:nowrap">Co. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:330.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:540.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:840.41px;white-space:nowrap">Shanghai </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1651.11px;white-space:nowrap">Clearing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2371.46px;white-space:nowrap">House). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3048.49px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3438.54px;white-space:nowrap">recordkeeping </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:0px;white-space:nowrap">system </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:620.07px;white-space:nowrap">subjects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1330.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1630.63px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2090.92px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2291.04px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2921.31px;white-space:nowrap">risks, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3391.26px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:4151.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:4452.01px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:0px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:350.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:650.48px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1110.76px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1500.82px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1941.15px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2091.27px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2661.42px;white-space:nowrap">ability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3171.62px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3371.75px;white-space:nowrap">enforce </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:4022.14px;white-space:nowrap">rights </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:240.12px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:390.23px;white-space:nowrap">bondholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1341.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1691.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1991.6px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2411.54px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2611.67px;white-space:nowrap">settlement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3492.07px;white-space:nowrap">delays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:4062.39px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:0px;white-space:nowrap">counterparty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1050.56px;white-space:nowrap">default </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1641.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1841.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2141.37px;white-space:nowrap">Hong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2621.69px;white-space:nowrap">Kong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3092.08px;white-space:nowrap">sub-custodian. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:4312.79px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:0px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:730.55px;white-space:nowrap">enforcing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1521.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1821.27px;white-space:nowrap">ownership </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2691.74px;white-space:nowrap">rights </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3181.9px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3382.03px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3532.15px;text-rendering:optimizeLegibility;white-space:nowrap">beneficial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:4342.68px;white-space:nowrap">holder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:200.13px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:670.52px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:1390.96px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:2201.22px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:2381.22px;white-space:nowrap">untested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3121.79px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3472.12px;white-space:nowrap">courts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:4012.29px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:4202.4px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:0px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:440.33px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:1010.48px;white-space:nowrap">experience </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:1941.06px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:2131.17px;white-space:nowrap">applying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:2851.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3151.93px;white-space:nowrap">concept </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3832.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:4032.51px;text-rendering:optimizeLegibility;white-space:nowrap">beneficial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:0px;white-space:nowrap">ownership. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:920.48px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:1390.87px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2111.31px;white-space:nowrap">uses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2541.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2841.77px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:3442.15px;white-space:nowrap">infrastructure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:4542.54px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:0px;white-space:nowrap">both </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:400.34px;white-space:nowrap">Hong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:880.66px;white-space:nowrap">Kong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:1351.05px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:1701.39px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2221.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2572.03px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2752.03px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:3052.27px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:3812.78px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:4063.01px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:0px;white-space:nowrap">holidays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:710.42px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:900.53px;white-space:nowrap">Hong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1380.85px;white-space:nowrap">Kong. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1891.32px;white-space:nowrap">As </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:2151.39px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:2301.5px;white-space:nowrap">result, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:2841.68px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3371.84px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3571.96px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:0px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:890.6px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1551.09px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2021.48px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2741.92px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3131.98px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3862.44px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:4062.57px;white-space:nowrap">times </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:0px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:480.32px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:630.44px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:1090.72px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:1270.72px;white-space:nowrap">unable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:1861.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:2061.39px;white-space:nowrap">add </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:2411.72px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:2611.85px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:2821.9px;white-space:nowrap">exit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:3152.02px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:3382.03px;white-space:nowrap">position. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:0px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:840.32px;letter-spacing:-0.41px;white-space:nowrap">offered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:1447.47px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:2107.97px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:2578.36px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:3298.8px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:3688.86px;white-space:nowrap">lose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:4069.07px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:0px;white-space:nowrap">eligibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:730.28px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:990.35px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:1590.73px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:2251.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:2551.46px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:3271.73px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:3471.86px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:3812.08px;white-space:nowrap">time. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:4252.15px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6908.64px;left:4402.18px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:0px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:720.44px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:1530.7px;white-space:nowrap">lose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:1910.92px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:2311.08px;white-space:nowrap">eligibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:3041.37px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:3301.44px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:3901.82px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7158.64px;left:4562.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:0px;white-space:nowrap">program, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:770.27px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:1160.51px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:1550.57px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:1800.79px;white-space:nowrap">sold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:2181.01px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:2481.24px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:2821.46px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:3071.69px;white-space:nowrap">longer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:3622.06px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:3872.29px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:0px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:660.5px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:1130.89px;white-space:nowrap">Connect. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:470.39px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1190.83px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1370.83px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1991.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2191.29px;white-space:nowrap">regulation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3031.88px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3271.99px;white-space:nowrap">both </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3672.33px;white-space:nowrap">Hong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:4152.66px;white-space:nowrap">Kong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:350.33px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:870.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1220.98px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1681.26px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2021.48px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2271.71px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2521.93px;white-space:nowrap">assurance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3402.42px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3752.67px;white-space:nowrap">further </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:0px;white-space:nowrap">regulations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:930.59px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1230.56px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1530.79px;letter-spacing:-0.46px;white-space:nowrap">affect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2017.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2318.03px;white-space:nowrap">availability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3198.43px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3398.55px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:4208.82px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:4398.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:0px;white-space:nowrap">program, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:770.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1070.51px;white-space:nowrap">frequency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1911.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2111.13px;white-space:nowrap">redemptions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3151.67px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3361.73px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3822.01px;white-space:nowrap">limitations. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:0px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:470.39px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1190.83px;white-space:nowrap">trades </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1741.11px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2051.28px;white-space:nowrap">settled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2631.62px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2821.73px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3532.15px;letter-spacing:-1.34px;white-space:nowrap">currency, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:4309.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:0px;white-space:nowrap">renminbi </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:740.3px;white-space:nowrap">(&#8220;RMB&#8221;). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1480.08px;white-space:nowrap">It </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1630.11px;white-space:nowrap">cannot </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2220.56px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2470.78px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3431.6px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3781.85px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:299.97px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:740.3px;white-space:nowrap">timely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1260.35px;white-space:nowrap">access </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1870.58px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2070.7px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2220.82px;white-space:nowrap">reliable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2851.17px;white-space:nowrap">supply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3421.49px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3621.62px;white-space:nowrap">RMB </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:4071.62px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:4261.73px;white-space:nowrap">Hong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:0px;white-space:nowrap">Kong. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:520.4px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:990.79px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1711.23px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1891.23px;white-space:nowrap">relatively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2651.48px;white-space:nowrap">new </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3031.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3382.03px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3612.04px;letter-spacing:-0.41px;white-space:nowrap">effects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4189.04px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4439.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:0px;white-space:nowrap">Chinese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:710.42px;white-space:nowrap">interbank </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1500.91px;white-space:nowrap">bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1951.35px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2551.46px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2861.63px;white-space:nowrap">uncertain. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3702.13px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3902.26px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:300.23px;white-space:nowrap">trading, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:950.63px;white-space:nowrap">settlement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:1831.03px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:2181.36px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:3121.79px;white-space:nowrap">technology </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:4042.44px;white-space:nowrap">systems </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:0px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:710.42px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:970.49px;white-space:nowrap">non-Chinese </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:2041.17px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:2811.45px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:3001.55px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:3471.94px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:0px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:310.17px;white-space:nowrap">relatively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:1070.42px;letter-spacing:-1.99px;white-space:nowrap">new. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:1490.71px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:1690.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:1991.07px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:2481.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:2681.54px;white-space:nowrap">systems </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:3391.61px;white-space:nowrap">malfunctions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:0px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:600.38px;white-space:nowrap">via </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:880.49px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:1350.88px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:2071.32px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:2551.64px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:2801.87px;white-space:nowrap">disrupted. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:3642.36px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:3842.49px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:300.23px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:770.63px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:1491.06px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:2211.33px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:2601.39px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:2851.61px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:3471.94px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:3672.07px;white-space:nowrap">further </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:0px;white-space:nowrap">interpretation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:1100.65px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:1450.99px;white-space:nowrap">guidance. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:2278.39px;white-space:nowrap">There </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:2798.61px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:3138.84px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:3389.06px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:3639.29px;white-space:nowrap">assurance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:240.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:440.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:740.48px;letter-spacing:-0.33px;white-space:nowrap">program&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:1587.48px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:2418.13px;white-space:nowrap">existence </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:3228.57px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:3438.63px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:4129.01px;white-space:nowrap">future </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">developments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6390.7px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7201.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7501.46px;white-space:nowrap">program </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8221.73px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8611.79px;white-space:nowrap">restrict </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9201.8px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">adversely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6040.37px;letter-spacing:-0.46px;white-space:nowrap">affect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6527.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6827.61px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7414.63px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8425.02px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8635.08px;white-space:nowrap">returns. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9295.31px;letter-spacing:-1.48px;white-space:nowrap">Finally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">uncertainties </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6290.6px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6480.7px;white-space:nowrap">China </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7001.02px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7291.14px;white-space:nowrap">rules </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7731.3px;white-space:nowrap">governing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8571.88px;white-space:nowrap">taxation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9252.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9452.46px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5570.33px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6050.65px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6460.66px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7471.05px;white-space:nowrap">via </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7751.16px;white-space:nowrap">Bond </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8221.55px;white-space:nowrap">Connect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8941.99px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9422.31px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9912.48px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">unexpected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6200.77px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6490.9px;white-space:nowrap">liabilities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7221.18px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7481.25px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7631.37px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5580.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6040.46px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6220.46px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6370.58px;text-rendering:optimizeLegibility;white-space:nowrap">&#8220;non-diversified&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7711.08px;white-space:nowrap">fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8161.44px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8671.64px;white-space:nowrap">means </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:9261.91px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5220px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6000.47px;white-space:nowrap">invests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6610.69px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6760.81px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7381.14px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7981.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8181.65px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8411.66px;white-space:nowrap">assets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8981.89px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9172px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6030.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6230.39px;white-space:nowrap">one </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6580.72px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6790.78px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7250.89px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7871.04px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8221.38px;white-space:nowrap">invests </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8831.6px;white-space:nowrap">overall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9411.86px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:9601.96px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">smaller </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5850.09px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6510.41px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6710.54px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7330.69px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7731.04px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7881.15px;text-rendering:optimizeLegibility;white-space:nowrap">diversified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8741.51px;white-space:nowrap">fund.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:2588.64px;left:5220px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:2588.64px;left:6030.26px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:2588.64px;left:7030.55px;white-space:nowrap">Risks</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:5220px;letter-spacing:-4.13px;white-space:nowrap">You </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:5573.76px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:6054.08px;white-space:nowrap">lose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:6434.3px;white-space:nowrap">money </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:7024.57px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:7264.69px;white-space:nowrap">investing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:8025.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:8215.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:8515.46px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:9025.75px;white-space:nowrap">Closed-end </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:5220px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:5620.34px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:6210.62px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:6520.78px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:6821.02px;white-space:nowrap">deposits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:7541.46px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:7751.51px;white-space:nowrap">obligations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:8662.15px;white-space:nowrap">of, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:8912.29px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:9122.34px;white-space:nowrap">guaranteed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:5430.06px;white-space:nowrap">endorsed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:6230.65px;letter-spacing:-3.34px;white-space:nowrap">by, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:6507.42px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:6847.65px;white-space:nowrap">bank, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:7337.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:7688.32px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:7998.49px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:8298.72px;white-space:nowrap">insured </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:8939.09px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:9179.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:5220px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:5880.32px;white-space:nowrap">Deposit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:6540.64px;white-space:nowrap">Insurance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:7381.14px;white-space:nowrap">Corporation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:8421.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:8721.91px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:9382.24px;white-space:nowrap">Reserve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4018.64px;left:5220px;white-space:nowrap">Board, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4018.64px;left:5800.34px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4018.64px;left:6010.4px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4018.64px;left:6350.62px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4018.64px;left:6810.91px;white-space:nowrap">agency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4018.64px;left:7441.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4018.64px;left:7641.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4018.64px;left:7941.71px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4018.64px;left:8341.79px;white-space:nowrap">government.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4448.64px;left:5220px;white-space:nowrap">Foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4448.64px;left:5929.98px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4448.64px;left:6840.44px;white-space:nowrap">(non-U.S.)</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:5220px;white-space:nowrap">Investing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:5990.45px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:6180.56px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:6780.94px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:7591.2px;white-space:nowrap">typically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:8281.41px;white-space:nowrap">involves </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4698.64px;left:8981.72px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:5220px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:5639.94px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:6040.28px;white-space:nowrap">investing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:6800.71px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:6990.82px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:7390.9px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:8251.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:8601.5px;white-space:nowrap">includes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4948.64px;left:9311.92px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5198.64px;left:5220px;white-space:nowrap">associated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5198.64px;left:6130.55px;white-space:nowrap">with: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5198.64px;left:6550.66px;white-space:nowrap">(i) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5198.64px;left:6760.55px;white-space:nowrap">internal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5198.64px;left:7400.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5198.64px;left:7751.25px;white-space:nowrap">external </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5198.64px;left:8441.63px;white-space:nowrap">political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5198.64px;left:9091.93px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5448.64px;left:5220px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5448.64px;left:6040.37px;white-space:nowrap">developments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5448.64px;left:7211.07px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5448.64px;left:7361.19px;white-space:nowrap">e.g., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5448.64px;left:7761.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5448.64px;left:8061.68px;white-space:nowrap">political, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5448.64px;left:8761.99px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5448.64px;left:9582.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.64px;left:5220px;white-space:nowrap">social </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.64px;left:5730.21px;white-space:nowrap">policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.64px;left:6380.51px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.64px;left:6730.84px;white-space:nowrap">structures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.64px;left:7571.07px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.64px;left:7771.2px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.64px;left:8261.37px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5698.64px;left:8861.75px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:5220px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:5610.06px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:5860.28px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:6230.39px;white-space:nowrap">stable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:6760.72px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:7111.05px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:7571.16px;white-space:nowrap">volatile </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:8181.47px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:8581.82px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:9072.16px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:9262.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5948.64px;left:9562.5px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:5430.06px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:5580.18px;white-space:nowrap">country </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:6220.46px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:7040.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:7341.15px;white-space:nowrap">U.S.) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:7801.17px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:8191.23px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:8441.46px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:9061.79px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6198.64px;left:9261.91px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6448.64px;left:5220px;white-space:nowrap">restrictions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6448.64px;left:6140.21px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6448.64px;left:6350.27px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6448.64px;left:7170.64px;white-space:nowrap">sanctions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6448.64px;left:7981.08px;white-space:nowrap">imposed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6448.64px;left:8711.46px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6448.64px;left:8951.57px;white-space:nowrap">another </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6698.64px;left:5220px;white-space:nowrap">company; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6698.64px;left:6050.39px;white-space:nowrap">(ii) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6698.64px;left:6300.26px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6698.64px;left:6900.64px;white-space:nowrap">practices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6698.64px;left:7670.92px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6698.64px;left:7821.04px;white-space:nowrap">e.g., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6698.64px;left:8221.29px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6698.64px;left:8681.57px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6698.64px;left:9071.63px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6698.64px;left:9321.86px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6948.64px;left:5220px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6948.64px;left:6220.55px;white-space:nowrap">supervision </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6948.64px;left:7181.02px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6948.64px;left:7531.35px;white-space:nowrap">regulation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6948.64px;left:8371.93px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6948.64px;left:8572.06px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6948.64px;left:9172.44px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:5570.33px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:6310.55px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:7050.67px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:7651.05px;white-space:nowrap">systems </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:8361.12px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:8711.46px;white-space:nowrap">brokers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:9361.67px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:9762.01px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:5520.23px;white-space:nowrap">U.S.; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:5970.32px;white-space:nowrap">(iii) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:6260.19px;white-space:nowrap">availability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:7140.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:7340.71px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:8281.14px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:8431.26px;white-space:nowrap">e.g., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:8831.51px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:9431.89px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:5220px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:5610.06px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:5910.29px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:6160.52px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:6780.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:6980.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:7281.21px;white-space:nowrap">same </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:7771.38px;white-space:nowrap">disclosure, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:8681.75px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:9602.4px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:5930.42px;white-space:nowrap">reporting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:6690.85px;white-space:nowrap">standards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:7531.35px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:7881.68px;white-space:nowrap">practices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:8651.95px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:8892.07px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:9292.15px;white-space:nowrap">issuers; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:5220px;white-space:nowrap">(iv) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:5519.88px;white-space:nowrap">limited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:6090.03px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:6780.15px;white-space:nowrap">&#8211; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:6930.26px;white-space:nowrap">e.g., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:7330.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:7630.75px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:8441.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:8641.14px;white-space:nowrap">certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:9231.42px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:5220px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:5840.16px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:6230.21px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:6480.44px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:6850.55px;white-space:nowrap">liquid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:7320.85px;white-space:nowrap">(harder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:7951.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:8151.24px;white-space:nowrap">sell) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:8531.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:8881.61px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8448.64px;left:9341.72px;white-space:nowrap">volatile; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:5570.33px;white-space:nowrap">(v) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:5830.22px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:6570.44px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:7401.09px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:7761.27px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:8721.83px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:9072.16px;white-space:nowrap">policies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8698.64px;left:9769.22px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:5220px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:5639.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:5840.07px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:6440.45px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:7450.84px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:7840.9px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:8091.12px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:8711.46px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:8901.56px;white-space:nowrap">developing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8948.64px;left:9822.3px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:5220px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:6020.42px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9198.64px;left:6620.54px;white-space:nowrap">countries. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9628.64px;left:5220px;white-space:nowrap">There </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9628.64px;left:5739.96px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9628.64px;left:6049.86px;white-space:nowrap">special </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9628.64px;left:6659.91px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9628.64px;left:7079.59px;white-space:nowrap">associated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9628.64px;left:7989.87px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9628.64px;left:8359.72px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9628.64px;left:9369.84px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9628.64px;left:9559.69px;white-space:nowrap">China, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9878.64px;left:5220px;white-space:nowrap">Hong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9878.64px;left:5700.32px;white-space:nowrap">Kong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9878.64px;left:6170.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9878.64px;left:6517.79px;letter-spacing:-2.49px;white-space:nowrap">Taiwan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9878.64px;left:7178.12px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9878.64px;left:7938.63px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9878.64px;left:8729.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9878.64px;left:8929.25px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10128.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10128.64px;left:6230.57px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10128.64px;left:6600.67px;letter-spacing:-1.21px;white-space:nowrap">liquidity, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10128.64px;left:7287.63px;white-space:nowrap">expropriation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10128.64px;left:8428.27px;text-rendering:optimizeLegibility;white-space:nowrap">confiscatory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10378.64px;left:5220px;white-space:nowrap">taxation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10378.64px;left:5950.46px;white-space:nowrap">nationalization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10378.64px;left:7151.31px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10378.64px;left:7501.64px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10378.64px;left:8332.29px;white-space:nowrap">control </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10378.64px;left:8922.57px;white-space:nowrap">regulations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10628.64px;left:5220px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10628.64px;left:6040.46px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10628.64px;left:6780.67px;white-space:nowrap">blockage). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10628.64px;left:7661.16px;text-rendering:optimizeLegibility;white-space:nowrap">Inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10628.64px;left:8341.61px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10628.64px;left:8691.94px;white-space:nowrap">rapid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10628.64px;left:9142.21px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:5410.11px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:6080.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:6430.87px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:7071.15px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:7521.33px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:7961.66px;white-space:nowrap">had, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:8362px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:8712.33px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10878.64px;left:9102.39px;white-space:nowrap">continue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11128.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11128.64px;left:5420.13px;white-space:nowrap">have, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11128.64px;left:5910.47px;white-space:nowrap">negative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11128.64px;left:6641.02px;letter-spacing:-0.41px;white-space:nowrap">effects </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11128.64px;left:7218.02px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11128.64px;left:7468.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11128.64px;left:7768.48px;white-space:nowrap">economy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11128.64px;left:8548.86px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11128.64px;left:8899.19px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:5220px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:5910.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:6110.24px;white-space:nowrap">China, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:6680.57px;white-space:nowrap">Hong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:7160.89px;white-space:nowrap">Kong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:7631.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:7978.36px;letter-spacing:-2.49px;white-space:nowrap">Taiwan. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:8638.68px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11378.64px;left:8838.81px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:5220px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:6230.39px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:6417.25px;letter-spacing:-2.85px;white-space:nowrap">Taiwan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:7027.56px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:7507.88px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:7758.11px;white-space:nowrap">adversely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:8578.48px;letter-spacing:-0.36px;white-space:nowrap">affected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:9265.69px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11628.64px;left:9505.81px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:5220px;white-space:nowrap">political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:5870.3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:6220.63px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:7041.01px;white-space:nowrap">relationship </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:8011.58px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:8381.69px;white-space:nowrap">China. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:8952.01px;white-space:nowrap">China, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11878.64px;left:9522.33px;white-space:nowrap">Hong </div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5653.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">Kong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:470.39px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:817.47px;letter-spacing:-2.85px;white-space:nowrap">Taiwan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1427.78px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1737.95px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2438.44px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2678.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2978.79px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3899.18px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4659.61px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:250.22px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1050.64px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1740.76px;white-space:nowrap">countries, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2571.15px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3081.36px;white-space:nowrap">means </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3671.63px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3921.86px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:190.11px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:680.45px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1460.83px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1801.05px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2261.16px;white-space:nowrap">heightened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3202.03px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3621.97px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4022.31px;white-space:nowrap">general </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:600.38px;white-space:nowrap">investing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1360.81px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1711.14px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1911.27px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2061.39px;white-space:nowrap">lack </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2431.49px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2631.62px;white-space:nowrap">established </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3592.27px;white-space:nowrap">legal, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4072.59px;white-space:nowrap">political, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:760.43px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1110.76px;white-space:nowrap">social </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1620.97px;white-space:nowrap">frameworks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2601.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2791.23px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3281.57px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4061.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">support </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:650.39px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1460.65px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2150.77px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2390.89px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2750.98px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2991.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3291.33px;white-space:nowrap">possibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4121.63px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4381.7px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">widespread </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:970.58px;white-space:nowrap">corruption </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1821.01px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2171.34px;white-space:nowrap">fraud. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2681.63px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2881.76px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3612.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3912.54px;white-space:nowrap">standards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:260.07px;white-space:nowrap">environmental, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1490.71px;white-space:nowrap">social </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2000.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2351.25px;white-space:nowrap">corporate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3161.69px;white-space:nowrap">governance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:4152.39px;white-space:nowrap">matters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:190.11px;white-space:nowrap">China, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:760.43px;white-space:nowrap">Hong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:1240.75px;white-space:nowrap">Kong </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:1711.14px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2058.22px;letter-spacing:-2.85px;white-space:nowrap">Taiwan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:2668.54px;white-space:nowrap">tend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3068.88px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3269px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3519.23px;white-space:nowrap">lower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:3999.38px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:4399.72px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:0px;white-space:nowrap">standards </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:840.5px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:1030.61px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:1490.71px;white-space:nowrap">developed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:2371.46px;white-space:nowrap">economies. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:0px;letter-spacing:-1.11px;white-space:nowrap">Trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:513.54px;white-space:nowrap">disputes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1233.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1584.32px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1884.55px;white-space:nowrap">imposition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2744.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2945.04px;letter-spacing:-0.41px;white-space:nowrap">tariffs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3431.87px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3682.09px;white-space:nowrap">goods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:4222.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:710.16px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1050.38px;letter-spacing:-0.46px;white-space:nowrap">affect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1537.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1837.62px;white-space:nowrap">economies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2758.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2958.22px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3738.6px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3928.71px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:4438.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:460.28px;white-space:nowrap">invests, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1120.52px;white-space:nowrap">particularly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2040.82px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2531.16px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3311.54px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3681.65px;white-space:nowrap">large </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4131.91px;white-space:nowrap">export </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:0px;white-space:nowrap">sectors, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:680.19px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:920.3px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1280.39px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1520.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1820.74px;white-space:nowrap">global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2351.16px;letter-spacing:-1.48px;white-space:nowrap">economy. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3164.94px;letter-spacing:-1.11px;white-space:nowrap">Trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3678.49px;white-space:nowrap">disputes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:0px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:340.22px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:830.39px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1020.5px;white-space:nowrap">increased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1850.98px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2321.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2521.23px;white-space:nowrap">production </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3411.83px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3762.16px;white-space:nowrap">reduced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">profitability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:910.37px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1170.44px;white-space:nowrap">non-export-dependent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2991.8px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3912.28px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:4262.52px;white-space:nowrap">rely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:0px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:250.22px;white-space:nowrap">imports </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:890.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1090.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1390.69px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1931.04px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2081.16px;white-space:nowrap">country </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2721.45px;white-space:nowrap">engages </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3462.1px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3652.21px;white-space:nowrap">retaliatory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:0px;letter-spacing:-0.36px;white-space:nowrap">tariffs. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:533.58px;letter-spacing:-1.11px;white-space:nowrap">Trade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1047.13px;white-space:nowrap">disputes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1767.57px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2157.63px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2537.84px;white-space:nowrap">lead </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2928.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3128.29px;white-space:nowrap">increased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3958.77px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:0px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:830.65px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1190.83px;letter-spacing:-1.11px;white-space:nowrap">volatility. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5088.64px;left:0px;white-space:nowrap">Emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5088.64px;left:880.14px;white-space:nowrap">Market </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5088.64px;left:1510.4px;white-space:nowrap">Countries</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:360.18px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:947.2px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1957.59px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2147.7px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2957.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3158.09px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3778.24px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3968.35px;white-space:nowrap">emerging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:600.12px;white-space:nowrap">countries </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1380.5px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1690.66px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2311px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2511.12px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2741.22px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2941.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3241.58px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3661.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3861.65px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">investing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:760.43px;letter-spacing:-1.21px;white-space:nowrap">generally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1577.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1927.88px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2368.21px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3188.85px;white-space:nowrap">heightened </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:4129.72px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:4549.66px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:200.13px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:350.24px;white-space:nowrap">lack </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:720.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:920.48px;white-space:nowrap">established </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1881.12px;white-space:nowrap">legal, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2361.45px;white-space:nowrap">political, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3061.76px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3822.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:4172.52px;white-space:nowrap">social </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:0px;white-space:nowrap">frameworks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:980.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1180.28px;white-space:nowrap">support </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1830.67px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2640.94px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3381.06px;white-space:nowrap">including: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:4191.59px;white-space:nowrap">delays </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:0px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:190.11px;white-space:nowrap">settling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:810.44px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1500.82px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2311.08px;white-space:nowrap">transactions; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3381.59px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:4121.81px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:0px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:570.32px;white-space:nowrap">controls; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1300.61px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1920.94px;white-space:nowrap">sensitivity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2751.15px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2951.28px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3591.56px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3951.74px;white-space:nowrap">changes; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:0px;white-space:nowrap">pervasiveness </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1200.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1400.71px;white-space:nowrap">corruption </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2251.14px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2601.47px;white-space:nowrap">crime; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3141.47px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3881.69px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:0px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:360.18px;white-space:nowrap">volatility; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1100.39px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1450.72px;text-rendering:optimizeLegibility;white-space:nowrap">inflation, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2171.16px;text-rendering:optimizeLegibility;white-space:nowrap">deflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2901.71px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3111.77px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3851.98px;white-space:nowrap">devaluation. </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:7768.64px;left:0px;white-space:nowrap">Market</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:360.18px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:960.29px;white-space:nowrap">values </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:1530.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:1730.74px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:2541.01px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:2751.06px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8018.64px;left:3211.35px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:0px;white-space:nowrap">owned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:580.43px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:820.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:1120.78px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:1581.06px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:1881.04px;white-space:nowrap">go </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:2131.26px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:2381.48px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:2591.54px;white-space:nowrap">down, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:3121.88px;white-space:nowrap">sometimes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8268.64px;left:4042.09px;white-space:nowrap">rapidly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:210.06px;letter-spacing:-0.89px;white-space:nowrap">unpredictably. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1364.15px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1724.33px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2324.44px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2804.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3004.89px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3155.01px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3825.18px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:4035.23px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:0px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:920.39px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1310.45px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1560.67px;white-space:nowrap">reduced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:2261.16px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:2501.28px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3101.4px;white-space:nowrap">activity </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3701.51px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3911.57px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:0px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:580.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:780.29px;white-space:nowrap">supply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:1350.62px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:1700.95px;white-space:nowrap">demand </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2401.44px;white-space:nowrap">unrelated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3202.03px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3402.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3702.39px;letter-spacing:-1.24px;white-space:nowrap">issuer. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:4269.38px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:4659.43px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:150.12px;white-space:nowrap">basic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:620.33px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:950.27px;white-space:nowrap">associated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:1860.82px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:2230.93px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:2461.03px;white-space:nowrap">investments. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:3521.43px;white-space:nowrap">When </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:4041.65px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:4501.93px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:0px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:460.11px;white-space:nowrap">sellers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:1030.25px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:1430.6px;white-space:nowrap">buyers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2070.88px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2601.04px;white-space:nowrap">tend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3001.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3201.5px;white-space:nowrap">fall. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3531.62px;white-space:nowrap">Likewise, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:4321.93px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:0px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:460.28px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:770.45px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1230.56px;white-space:nowrap">buyers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1820.83px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2221.17px;white-space:nowrap">sellers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2841.33px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3371.48px;white-space:nowrap">tend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3771.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3971.95px;white-space:nowrap">rise.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:0px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:500.19px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:1030.34px;white-space:nowrap">tend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:1430.68px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:1630.81px;white-space:nowrap">go </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:1881.04px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:2131.26px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:2481.59px;white-space:nowrap">down </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:2961.91px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:3422.02px;white-space:nowrap">dramatically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10198.64px;left:4432.32px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:0px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:490.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:690.47px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:1090.81px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:1941.15px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:2101.29px;white-space:nowrap">slower-growth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:3271.64px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10448.64px;left:3481.7px;white-space:nowrap">recessionary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:0px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:820.37px;white-space:nowrap">environment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:1860.91px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:2341.23px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:2781.56px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:3031.79px;white-space:nowrap">adverse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:3722.17px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:4209.17px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10698.64px;left:4459.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:0px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:530.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:730.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:1030.52px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:1660.78px;white-space:nowrap">stocks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:2220.91px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:2611.23px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:2851.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10948.64px;left:3151.58px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:11378.64px;left:0px;white-space:nowrap">Derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:11378.64px;left:910.55px;white-space:nowrap">Instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5580.18px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6640.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6840.79px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7661.16px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8641.49px;white-space:nowrap">depends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">largely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5800.25px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6050.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6350.71px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7411.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7611.33px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7861.55px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8742.13px;white-space:nowrap">instrument, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5650.22px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5890.34px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6040.46px;letter-spacing:-1.34px;white-space:nowrap">currency, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6817.32px;letter-spacing:-1.34px;white-space:nowrap">security, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7524.14px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8164.42px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8524.6px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8734.66px;white-space:nowrap">index, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9264.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5650.22px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6630.56px;white-space:nowrap">often </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7080.91px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7521.24px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7941.18px;white-space:nowrap">similar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8511.15px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8711.28px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9011.51px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">instrument, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6160.34px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6350.45px;white-space:nowrap">addition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7030.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7231.11px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7691.4px;white-space:nowrap">risks. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8161.35px;white-space:nowrap">Derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9101.6px;white-space:nowrap">involve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">costs </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5690.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6040.46px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6380.68px;white-space:nowrap">create </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6930.97px;white-space:nowrap">economic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7751.34px;white-space:nowrap">leverage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8491.82px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8681.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8982.16px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">portfolio, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5960.39px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6470.6px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6860.65px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7350.82px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7540.93px;text-rendering:optimizeLegibility;white-space:nowrap">significant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8391.36px;white-space:nowrap">volatility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:9081.56px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5220px;white-space:nowrap">cause </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5750.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6050.57px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6510.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6710.98px;white-space:nowrap">participate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7591.46px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7781.57px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8341.79px;white-space:nowrap">(as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8641.85px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9001.93px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9242.05px;white-space:nowrap">gains) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5410.11px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5660.33px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6310.72px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6660.97px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7641.39px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8361.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8662.06px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:9249.08px;white-space:nowrap">initial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5220px;white-space:nowrap">investment. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6190.4px;white-space:nowrap">Certain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6820.66px;white-space:nowrap">derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7731.04px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8171.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8471.6px;white-space:nowrap">potential </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9202.15px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5220px;white-space:nowrap">unlimited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5990.36px;white-space:nowrap">loss, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6410.48px;white-space:nowrap">regardless </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7300.9px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7501.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7801.26px;white-space:nowrap">size </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8171.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8371.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8671.73px;white-space:nowrap">initial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:9131.92px;white-space:nowrap">investment. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:5220px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:5720.19px;white-space:nowrap">risks </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6140.13px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6760.55px;letter-spacing:-1.03px;white-space:nowrap">illiquidity, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7527.48px;white-space:nowrap">mispricing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:8387.67px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:8597.72px;white-space:nowrap">improper </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:9357.98px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:5220px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:5720.36px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6540.73px;white-space:nowrap">instrument, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:7481.07px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:7831.41px;white-space:nowrap">imperfect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8621.63px;white-space:nowrap">correlation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:5220px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:5950.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6250.78px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6731.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6931.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7231.46px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:8051.84px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:8402.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:8702.4px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5220px;white-space:nowrap">instrument </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6110.33px;white-space:nowrap">so </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6350.45px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6700.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7000.93px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7461.21px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7851.27px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:8151.5px;white-space:nowrap">realize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:8731.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9031.99px;white-space:nowrap">intended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">benefits. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5947.21px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:6307.38px;white-space:nowrap">successful </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:7197.71px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:7537.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:7738.07px;white-space:nowrap">derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:8648.44px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:8948.41px;white-space:nowrap">usually </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:5220px;white-space:nowrap">depend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:5870.65px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:6120.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:6421.11px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:7341.5px;letter-spacing:0.34px;white-space:nowrap">manager&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:8235.35px;white-space:nowrap">ability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:8745.56px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:8945.68px;white-space:nowrap">accurately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:5220px;white-space:nowrap">forecast </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:5910.29px;white-space:nowrap">movements </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:6890.63px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:7080.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:7380.97px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:7981.08px;white-space:nowrap">relating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:8621.46px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:8821.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:9121.82px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:5220px;white-space:nowrap">instrument. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:6160.34px;white-space:nowrap">Should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:6770.83px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:6920.95px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:7521.06px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:7731.12px;white-space:nowrap">markets, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:8471.25px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:8681.31px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:9211.46px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:5220px;white-space:nowrap">particular </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:6010.31px;white-space:nowrap">classes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:6660.53px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:6860.65px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:7871.04px;white-space:nowrap">move </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:8361.21px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:8551.32px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:8801.54px;white-space:nowrap">unexpected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:5220px;letter-spacing:-1.24px;white-space:nowrap">manner, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:5920.4px;white-space:nowrap">especially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:6760.81px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:6950.92px;white-space:nowrap">unusual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:7631.46px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:7841.51px;white-space:nowrap">extreme </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:8541.74px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:9141.86px;white-space:nowrap">conditions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:5520.23px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:5980.52px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:6370.58px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:6670.81px;white-space:nowrap">achieve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:7341.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:7641.47px;white-space:nowrap">anticipated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:8562.13px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:9242.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:9442.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:5220px;white-space:nowrap">transaction, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:6200.51px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:6550.84px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:6690.85px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:7080.91px;white-space:nowrap">realize </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:7661.16px;white-space:nowrap">losses, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:8271.39px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:8781.59px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:9261.91px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">significant. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:6120.44px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:6270.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:6570.7px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:7491.09px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:8251.52px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:8431.52px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:8731.76px;white-space:nowrap">successful </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:9622.09px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:5220px;white-space:nowrap">using </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:5700.32px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:6130.55px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:6950.92px;white-space:nowrap">instruments, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:7981.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:8281.49px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:8868.52px;white-space:nowrap">performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:5220px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:5610.06px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:5860.28px;white-space:nowrap">worse </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:6390.44px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:6790.78px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:6930.79px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:7231.03px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:8151.42px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:8911.85px;white-space:nowrap">did </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:9202.06px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:9502.29px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:5220px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:5650.22px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:6470.6px;white-space:nowrap">instruments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:7450.93px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:7651.05px;white-space:nowrap">all. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:7931.16px;white-space:nowrap">When </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:8451.39px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:8601.5px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:9421.88px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:9601.88px;white-space:nowrap">used </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:5220px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:5480.07px;white-space:nowrap">hedging, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:6220.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:6520.96px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:7161.5px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:7351.61px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:7831.93px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:8032.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:8332.29px;white-space:nowrap">derivative </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:9152.67px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:9542.72px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:5220px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:5520.23px;white-space:nowrap">correlate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:6270.56px;text-rendering:optimizeLegibility;white-space:nowrap">specifically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:7190.86px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:7560.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:7861.2px;letter-spacing:-1.34px;white-space:nowrap">currency, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:8638.07px;letter-spacing:-1.34px;white-space:nowrap">security, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:9344.88px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7228.64px;left:5220px;white-space:nowrap">rate, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7228.64px;left:5630.19px;white-space:nowrap">index </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7228.64px;left:6110.51px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7228.64px;left:6320.57px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7228.64px;left:6780.85px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7228.64px;left:7110.79px;white-space:nowrap">being </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7228.64px;left:7601.22px;white-space:nowrap">hedged. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7228.64px;left:8301.88px;white-space:nowrap">Derivatives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7228.64px;left:9242.14px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7228.64px;left:9622.35px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7478.64px;left:5220px;white-space:nowrap">present </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7478.64px;left:5870.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7478.64px;left:6170.63px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7478.64px;left:6500.57px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7478.64px;left:6850.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7478.64px;left:7151.04px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7478.64px;left:7611.33px;white-space:nowrap">party </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7478.64px;left:8061.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7478.64px;left:8261.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7478.64px;left:8561.87px;white-space:nowrap">transaction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7478.64px;left:9492.36px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7478.64px;left:9792.33px;white-space:nowrap">fail </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7728.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7728.64px;left:5420.13px;white-space:nowrap">perform. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7728.64px;left:6137.05px;white-space:nowrap">There </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7728.64px;left:6657.28px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7728.64px;left:6837.28px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7728.64px;left:7217.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7728.64px;left:7517.72px;white-space:nowrap">risk, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7728.64px;left:7897.68px;white-space:nowrap">especially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7728.64px;left:8738.09px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7728.64px;left:9248.47px;white-space:nowrap">extreme </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7978.64px;left:5220px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7978.64px;left:5820.12px;white-space:nowrap">conditions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7978.64px;left:6730.66px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7978.64px;left:7080.91px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7978.64px;left:7331.13px;white-space:nowrap">instrument, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7978.64px;left:8271.47px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7978.64px;left:8781.68px;white-space:nowrap">usually </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7978.64px;left:9391.99px;white-space:nowrap">would </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8228.64px;left:5220px;white-space:nowrap">operate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8228.64px;left:5880.5px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8228.64px;left:6120.62px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8228.64px;left:6270.73px;white-space:nowrap">hedge, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8228.64px;left:6871.29px;white-space:nowrap">provides </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8228.64px;left:7601.66px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8228.64px;left:7851.88px;white-space:nowrap">hedging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8228.64px;left:8542.53px;text-rendering:optimizeLegibility;white-space:nowrap">benefits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8228.64px;left:9222.98px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8228.64px;left:9423.11px;white-space:nowrap">all.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:8658.64px;left:5220px;text-rendering:optimizeLegibility;white-space:nowrap">Non-Diversification</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:5220px;white-space:nowrap">Because </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:5970.5px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6270.73px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6731.02px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6911.02px;text-rendering:optimizeLegibility;white-space:nowrap">non-diversified, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:8181.65px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:8321.66px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:8711.72px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:8961.94px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5220px;white-space:nowrap">sensitive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5970.32px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6170.45px;white-space:nowrap">economic, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:7040.83px;white-space:nowrap">business, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:7851.27px;white-space:nowrap">political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:8501.57px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:8711.63px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:9171.91px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:5220px;letter-spacing:-0.33px;white-space:nowrap">affecting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:5947.21px;white-space:nowrap">individual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:6747.71px;white-space:nowrap">issuers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:7367.87px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:7577.93px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:8588.32px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:8988.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:9138.78px;text-rendering:optimizeLegibility;white-space:nowrap">diversified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:5220px;white-space:nowrap">fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:5670.35px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:6180.56px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:6570.62px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:7060.78px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:7250.89px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:7871.22px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:8741.78px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:8931.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:9232.12px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9658.64px;left:9712.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:5520.23px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:6107.26px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:6697.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:7047.86px;white-space:nowrap">greater </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:7668.19px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:7998.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9908.64px;left:8198.26px;white-space:nowrap">loss.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:10338.64px;left:5220px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:10338.64px;left:6060.32px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:10338.64px;left:7210.55px;white-space:nowrap">Strategies</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5220px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6000.21px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7100.86px;white-space:nowrap">strategies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7931.25px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8321.31px;white-space:nowrap">substantially </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:9361.85px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5520.23px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6107.26px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6897.74px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7097.87px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7838.09px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:8668.74px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:9118.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:9469.25px;white-space:nowrap">could </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5220px;white-space:nowrap">result </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5710.17px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5900.27px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6460.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6660.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6960.85px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7421.13px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7561.14px;white-space:nowrap">currencies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8441.46px;white-space:nowrap">do </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8691.68px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8991.91px;white-space:nowrap">perform </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5220px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5460.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5760.35px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6680.74px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7441.17px;white-space:nowrap">expects. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8161.52px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8361.65px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:9092.2px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:5220px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6320.65px;white-space:nowrap">strategies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7201.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7401.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7701.42px;white-space:nowrap">extent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:8241.77px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:8592.01px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:8982.25px;white-space:nowrap">reduce </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:9582.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5220px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5807.02px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6597.51px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6797.64px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7537.85px;white-space:nowrap">risks, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8007.8px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8397.86px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8778.08px;white-space:nowrap">reduce </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:9378.46px;white-space:nowrap">the </div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:587.02px;white-space:nowrap">ability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1097.23px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1297.35px;text-rendering:optimizeLegibility;white-space:nowrap">benefit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1887.8px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2297.81px;white-space:nowrap">favorable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3088.3px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3818.85px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4008.96px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:830.65px;white-space:nowrap">rates. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1330.84px;white-space:nowrap">Using </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1841.04px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2581.26px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3681.91px;white-space:nowrap">strategies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4512.3px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:790.49px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1250.77px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1651.11px;white-space:nowrap">hedging </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2341.76px;white-space:nowrap">further </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2911.99px;white-space:nowrap">increases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3732.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4032.6px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">exposure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:790.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:990.62px;white-space:nowrap">foreign </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1591px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2511.39px;white-space:nowrap">losses. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3121.61px;white-space:nowrap">Currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3901.82px;white-space:nowrap">markets </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:780.47px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1090.63px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1390.87px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1630.99px;white-space:nowrap">regulated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2431.58px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2671.7px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3481.96px;white-space:nowrap">markets. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4222.09px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">addition, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:730.55px;white-space:nowrap">currency </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1470.76px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1920.94px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2311px;text-rendering:optimizeLegibility;white-space:nowrap">fluctuate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3041.46px;text-rendering:optimizeLegibility;white-space:nowrap">significantly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4021.88px;white-space:nowrap">over </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4422.04px;white-space:nowrap">short </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">periods </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:640.37px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:840.5px;white-space:nowrap">time, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1280.57px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1630.9px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1971.12px;white-space:nowrap">reduce </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2571.5px;white-space:nowrap">returns.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1908.64px;left:0px;white-space:nowrap">Interest </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1908.64px;left:700.22px;white-space:nowrap">Rate</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:0px;white-space:nowrap">When </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:520.22px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1160.51px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1610.68px;white-space:nowrap">rise, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2000.74px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2401.08px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3071.25px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3601.41px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:4381.88px;white-space:nowrap">fall. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:360.18px;white-space:nowrap">opposite </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1090.72px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1270.72px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1650.94px;white-space:nowrap">generally </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2431.41px;white-space:nowrap">true: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2841.59px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3241.93px;white-space:nowrap">security </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3912.1px;white-space:nowrap">prices </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:4442.26px;white-space:nowrap">rise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:0px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:480.32px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1120.61px;white-space:nowrap">rates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1570.78px;white-space:nowrap">fall. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1900.9px;white-space:nowrap">Interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2551.2px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2911.38px;white-space:nowrap">changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3641.92px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3952.09px;text-rendering:optimizeLegibility;white-space:nowrap">influenced </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:240.12px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:390.23px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1050.56px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1250.68px;white-space:nowrap">factors, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1890.88px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2651.4px;white-space:nowrap">government </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3651.94px;letter-spacing:-1.67px;white-space:nowrap">policy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">monetary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:800.33px;letter-spacing:-1.67px;white-space:nowrap">policy, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1347.19px;text-rendering:optimizeLegibility;white-space:nowrap">inflation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2017.62px;white-space:nowrap">expectations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3128.29px;white-space:nowrap">perceptions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4108.89px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4309.01px;white-space:nowrap">risk, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:350.33px;white-space:nowrap">supply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:920.65px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1120.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1471.11px;white-space:nowrap">demand </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2171.6px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2431.67px;white-space:nowrap">bonds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3022.12px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3222.25px;white-space:nowrap">general, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3922.73px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:0px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:370.11px;white-space:nowrap">longer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:920.48px;white-space:nowrap">maturities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1750.69px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1960.75px;white-space:nowrap">durations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2751.24px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3061.41px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3521.51px;white-space:nowrap">sensitive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:4271.84px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:0px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:640.28px;white-space:nowrap">rate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1000.46px;white-space:nowrap">changes.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:4338.64px;left:0px;white-space:nowrap">Credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:0px;white-space:nowrap">An </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:270.18px;white-space:nowrap">issuer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:800.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1000.46px;white-space:nowrap">debt </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1400.8px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2211.06px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2601.12px;white-space:nowrap">fail </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2881.23px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3081.36px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3571.52px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:0px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:830.39px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1040.45px;white-space:nowrap">repay </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1540.72px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2261.07px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2741.4px;white-space:nowrap">due, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3141.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3331.85px;white-space:nowrap">whole </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3852.16px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:4062.22px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:4252.32px;white-space:nowrap">part. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:0px;white-space:nowrap">Changes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:770.54px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:960.64px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1210.87px;letter-spacing:0.38px;white-space:nowrap">issuer&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1874.44px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2584.86px;white-space:nowrap">strength </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3285.26px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3495.32px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3685.43px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3835.55px;letter-spacing:-0.3px;white-space:nowrap">security&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:4632.45px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;letter-spacing:-0.25px;white-space:nowrap">government&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1127.29px;white-space:nowrap">credit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1617.45px;white-space:nowrap">rating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2117.72px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2507.78px;letter-spacing:-0.46px;white-space:nowrap">affect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2994.79px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3144.9px;letter-spacing:-0.3px;white-space:nowrap">security&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3941.81px;white-space:nowrap">value.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:0px;white-space:nowrap">Please </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:600.38px;white-space:nowrap">see </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:940.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:1240.84px;white-space:nowrap">Performance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:2321.28px;white-space:nowrap">Summary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:3141.39px;white-space:nowrap">section </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:3761.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:3961.85px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:4291.96px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:260.07px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:1080.7px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:1410.64px;white-space:nowrap">disclosure.</div></div>
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		<div 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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:350.24px;white-space:nowrap">Annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:960.73px;white-space:nowrap">Meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1651.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1851.24px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2971.93px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3168.81px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4049.3px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4619.62px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5259.9px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5720.19px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6080.36px;white-space:nowrap">&#8220;Fund&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6720.47px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7090.58px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7480.9px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7681.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7981.26px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8568.28px;text-rendering:optimizeLegibility;white-space:nowrap">offices, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9188.53px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9538.86px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:350.33px;white-space:nowrap">Street, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:930.59px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1300.61px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2301.42px;white-space:nowrap">Florida, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2951.63px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3201.86px;white-space:nowrap">May </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3591.91px;white-space:nowrap">28, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3892.15px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4389.35px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4749.52px;white-space:nowrap">purpose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5450.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5650.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5950.37px;white-space:nowrap">meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6640.75px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7010.86px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7210.99px;white-space:nowrap">elect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7641.21px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8098.24px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8841.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9041.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9342.16px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:350.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:550.46px;white-space:nowrap">ratify </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:990.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1290.76px;white-space:nowrap">selection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2051.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2251.32px;white-space:nowrap">PricewaterhouseCoopers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4322.37px;letter-spacing:-0.81px;white-space:nowrap">LLP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4689.4px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4929.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5229.76px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6270.73px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7121.16px;white-space:nowrap">public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7641.47px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8562.13px;text-rendering:optimizeLegibility;white-space:nowrap">firm </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8912.02px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9172.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9472.32px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:260.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:560.3px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1020.41px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1420.58px;white-space:nowrap">ending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2011.11px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2891.43px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3191.66px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3682.18px;white-space:nowrap">At </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3902.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4202.49px;white-space:nowrap">meeting, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4942.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5243.12px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5993.53px;white-space:nowrap">persons </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6683.91px;white-space:nowrap">were </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7124.06px;white-space:nowrap">elected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7754.5px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7994.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8294.85px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9385.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9585.62px;white-space:nowrap">serve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:236.87px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:980.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1180.55px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1480.78px;white-space:nowrap">Fund: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1991.07px;white-space:nowrap">Edith </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2451.36px;white-space:nowrap">E. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2671.44px;letter-spacing:-1.48px;white-space:nowrap">Holiday, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3358.39px;white-space:nowrap">J. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3548.41px;white-space:nowrap">Michael </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4218.66px;white-space:nowrap">Luttig </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4709px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5059.34px;white-space:nowrap">Constantine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6069.99px;white-space:nowrap">D. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6296.75px;letter-spacing:-1.25px;white-space:nowrap">Tseretopoulos.* </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7587.51px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:8708.2px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9088.42px;text-rendering:optimizeLegibility;white-space:nowrap">ratified </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9678.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">selection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:760.43px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:960.56px;white-space:nowrap">PricewaterhouseCoopers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3031.61px;letter-spacing:-0.81px;white-space:nowrap">LLP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3398.64px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3638.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3938.99px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4979.97px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5830.4px;white-space:nowrap">public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6350.71px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7271.37px;text-rendering:optimizeLegibility;white-space:nowrap">firm </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7621.26px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7881.33px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8181.56px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8641.85px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8901.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9202.15px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:9662.26px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">ending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:590.54px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1470.85px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1771.08px;white-space:nowrap">2020. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2271.53px;white-space:nowrap">No </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2551.64px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3011.92px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3772.35px;white-space:nowrap">was </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:4142.46px;white-space:nowrap">transacted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5032.97px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5233.1px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5533.33px;white-space:nowrap">meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6223.71px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6593.82px;white-space:nowrap">respect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7234.1px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7434.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7734.46px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:360.18px;white-space:nowrap">results </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:940.34px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1140.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1440.7px;white-space:nowrap">voting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1971.04px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2171.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2461.46px;white-space:nowrap">Annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3071.95px;white-space:nowrap">Meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3762.33px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:4072.5px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:4312.62px;white-space:nowrap">follows:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:0px;white-space:nowrap">1. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:200.13px;white-space:nowrap">Election </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:890.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1090.63px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2338.64px;left:1547.67px;letter-spacing:-0.74px;white-space:nowrap">Trustees:</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4292.69px;left:0px;white-space:nowrap">There </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4292.69px;left:379.22px;white-space:nowrap">were </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4292.69px;left:700px;white-space:nowrap">no </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4292.69px;left:882.42px;white-space:nowrap">broker </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4292.69px;left:1290.78px;white-space:nowrap">non-votes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4292.69px;left:1903.52px;white-space:nowrap">received </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4292.69px;left:2435.94px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4292.69px;left:2705.7px;white-space:nowrap">respect </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4292.69px;left:3172.5px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4292.69px;left:3318.44px;white-space:nowrap">this </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4292.69px;left:3559.14px;white-space:nowrap">item.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:0px;white-space:nowrap">2. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:200.13px;text-rendering:optimizeLegibility;white-space:nowrap">Ratification </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:1140.56px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:1340.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:1640.92px;white-space:nowrap">selection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:2401.35px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:2601.47px;white-space:nowrap">PricewaterhouseCoopers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:4672.53px;letter-spacing:-0.81px;white-space:nowrap">LLP </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:5039.56px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:5279.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:5579.91px;white-space:nowrap">independent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:6620.89px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:7471.32px;white-space:nowrap">public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:7991.63px;white-space:nowrap">accounting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:8912.29px;text-rendering:optimizeLegibility;white-space:nowrap">firm </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:9262.18px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4810.18px;left:9522.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5060.18px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5060.18px;left:460.28px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5060.18px;left:720.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5060.18px;left:1020.59px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5060.18px;left:1480.69px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5060.18px;left:1880.86px;white-space:nowrap">ending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5060.18px;left:2471.4px;white-space:nowrap">December </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5060.18px;left:3351.71px;white-space:nowrap">31, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5060.18px;left:3651.94px;white-space:nowrap">2020:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:0px;white-space:nowrap">* </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:120.06px;white-space:nowrap">Harris </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:650.04px;white-space:nowrap">J. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:830.13px;white-space:nowrap">Ashton, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:1480.61px;white-space:nowrap">Ann </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:1847.64px;letter-spacing:-3.33px;white-space:nowrap">Torre </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:2307.74px;white-space:nowrap">Bates, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:2868.05px;white-space:nowrap">Mary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:3318.05px;white-space:nowrap">C. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:3548.06px;white-space:nowrap">Choksi, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:4198.27px;white-space:nowrap">Rupert </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:4788.54px;white-space:nowrap">H. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:5018.55px;white-space:nowrap">Johnson, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:5799.11px;letter-spacing:-1.99px;white-space:nowrap">Jr., </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:6089.15px;white-space:nowrap">Gregory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:6789.38px;white-space:nowrap">E. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:7009.45px;white-space:nowrap">Johnson, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:7790.01px;white-space:nowrap">David </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:8300.21px;letter-spacing:-3.31px;white-space:nowrap">W. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:8560.2px;white-space:nowrap">Niemiec, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:9310.34px;white-space:nowrap">Larry </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6865.72px;left:9770.45px;white-space:nowrap">D. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:0px;white-space:nowrap">Thompson </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:900.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:1250.77px;white-space:nowrap">Robert </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:1841.04px;white-space:nowrap">E. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:2061.12px;letter-spacing:-1.34px;white-space:nowrap">Wade </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:2574.67px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:2881.58px;letter-spacing:-0.74px;white-space:nowrap">Trustees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:3625.14px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:3825.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:4125.5px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:4585.78px;white-space:nowrap">who </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:4966px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:5276.16px;white-space:nowrap">currently </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:6016.38px;white-space:nowrap">serving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:6646.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:6996.97px;white-space:nowrap">whose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:7567.29px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:8067.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:8267.43px;text-rendering:optimizeLegibility;white-space:nowrap">office </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:8747.67px;white-space:nowrap">continued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7115.72px;left:9578.32px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7365.72px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7365.72px;left:290.3px;white-space:nowrap">Annual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7365.72px;left:900.79px;white-space:nowrap">Meeting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7365.72px;left:1591.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7365.72px;left:1791.3px;white-space:nowrap">Shareholders.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3351.26px;left:0px;letter-spacing:-2.37px;white-space:nowrap">Term </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3351.26px;left:423.83px;white-space:nowrap">Expiring </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3351.26px;left:1108.36px;white-space:nowrap">2023</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3351.26px;left:3342.27px;white-space:nowrap">For</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2967.26px;left:4342.27px;white-space:nowrap">% </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2967.26px;left:4528.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3159.26px;left:3737.89px;white-space:nowrap">Outstanding</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3351.26px;left:4146.33px;white-space:nowrap">Shares</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2775.26px;left:5422.27px;white-space:nowrap">% </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2775.26px;left:5608.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2967.26px;left:5226.33px;white-space:nowrap">Shares</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3159.26px;left:4844.14px;white-space:nowrap">Present </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3159.26px;left:5475.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3351.26px;left:5274.22px;letter-spacing:-1.98px;white-space:nowrap">Voting</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3351.26px;left:6166.02px;letter-spacing:-0.18px;white-space:nowrap">Withheld</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2967.26px;left:7582.27px;white-space:nowrap">% </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2967.26px;left:7768.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3159.26px;left:6977.89px;white-space:nowrap">Outstanding</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3351.26px;left:7386.33px;white-space:nowrap">Shares</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2775.26px;left:8662.27px;white-space:nowrap">% </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2775.26px;left:8848.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2967.26px;left:8466.33px;white-space:nowrap">Shares</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3159.26px;left:8084.14px;white-space:nowrap">Present </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3159.26px;left:8715.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3351.26px;left:8514.22px;letter-spacing:-1.98px;white-space:nowrap">Voting</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3554.14px;left:0px;white-space:nowrap">Edith </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3554.14px;left:409.14px;white-space:nowrap">E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3554.14px;left:604.77px;white-space:nowrap">Holiday</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3551.72px;left:1223.1px;letter-spacing:58.85px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3554.14px;left:2710.23px;white-space:nowrap">104,073,108</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3554.14px;left:4137.34px;white-space:nowrap">77.58%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3554.14px;left:5217.34px;white-space:nowrap">96.17%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3554.14px;left:6128.2px;white-space:nowrap">4,133,514</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3554.14px;left:7466.33px;white-space:nowrap">3.08%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3554.14px;left:8546.33px;white-space:nowrap">3.82%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3757.03px;left:0px;white-space:nowrap">J. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3757.03px;left:168.91px;white-space:nowrap">Michael </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3757.03px;left:764.69px;white-space:nowrap">Luttig</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3754.61px;left:1223.1px;letter-spacing:58.85px;white-space:nowrap">.............</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3757.03px;left:2710.23px;white-space:nowrap">104,737,302</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3757.03px;left:4137.34px;white-space:nowrap">78.08%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3757.03px;left:5217.34px;white-space:nowrap">96.79%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3757.03px;left:6128.2px;white-space:nowrap">3,469,320</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3757.03px;left:7466.33px;white-space:nowrap">2.59%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3757.03px;left:8546.33px;white-space:nowrap">3.21%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3959.91px;left:0px;white-space:nowrap">Constantine </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3959.91px;left:898.36px;white-space:nowrap">D. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3959.91px;left:1099.92px;letter-spacing:-1.36px;white-space:nowrap">Tseretopoulos</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:3957.49px;left:2163.94px;letter-spacing:63px;white-space:nowrap">...</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3959.91px;left:2710.23px;white-space:nowrap">104,566,064</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3959.91px;left:4137.34px;white-space:nowrap">77.95%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3959.91px;left:5217.34px;white-space:nowrap">96.63%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3959.91px;left:6128.2px;white-space:nowrap">3,642,585</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3959.91px;left:7466.33px;white-space:nowrap">2.72%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3959.91px;left:8546.33px;white-space:nowrap">3.37%</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5688.8px;left:3066.33px;white-space:nowrap">Shares </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5880.8px;left:3167.42px;letter-spacing:-2.37px;white-space:nowrap">Voted</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5496.8px;left:4342.27px;white-space:nowrap">% </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5496.8px;left:4528.98px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5688.8px;left:3737.89px;white-space:nowrap">Outstanding</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5880.8px;left:4146.33px;white-space:nowrap">Shares</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5496.8px;left:5422.27px;white-space:nowrap">% </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5496.8px;left:5608.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5688.8px;left:5226.33px;white-space:nowrap">Shares</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5880.8px;left:5173.05px;white-space:nowrap">Present </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6083.68px;left:0px;white-space:nowrap">For</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6081.26px;left:282.25px;letter-spacing:58.3px;white-space:nowrap">.......................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6083.68px;left:2710.23px;white-space:nowrap">100,532,128</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6083.68px;left:4137.34px;white-space:nowrap">74.94%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6083.68px;left:5217.34px;white-space:nowrap">92.90%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6286.57px;left:0px;white-space:nowrap">Against</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6284.14px;left:564.51px;letter-spacing:58.41px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6286.57px;left:2888.2px;white-space:nowrap">6,688,475</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6286.57px;left:4226.33px;white-space:nowrap">4.99%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6286.57px;left:5306.33px;white-space:nowrap">6.18%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6489.45px;left:0px;white-space:nowrap">Abstain</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:6487.03px;left:564.51px;letter-spacing:58.41px;white-space:nowrap">....................</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6489.45px;left:3021.64px;white-space:nowrap">992,939</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6489.45px;left:4226.33px;white-space:nowrap">0.74%</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6489.45px;left:5306.33px;white-space:nowrap">0.92%</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:25px;left:36px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:421px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
		</div>
		<div style="height:51px;left:36px;position:absolute;top:74px;width:504px">
			<div style="width:10080px;height:866px;position:absolute;top:7.44px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:0px;white-space:nowrap">Dividend </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:1230.64px;white-space:nowrap">Reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:3117.66px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:3692.29px;white-space:nowrap">Cash </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:4463.44px;white-space:nowrap">Purchase </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:5792.7px;white-space:nowrap">Plan</div></div>
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		<div style="background-color:transparent;height:1px;left:36px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">48</div></div>
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		<div style="background-color:transparent;height:13px;left:66px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:405px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
		</div>
		<div style="height:17px;left:80px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div></div>
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		<div style="height:13px;left:72px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:610px;left:36px;position:absolute;top:121px;width:504px">
			<div style="width:10080px;height:12118px;position:absolute;top:3.5px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">








			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:820.46px;letter-spacing:-0.46px;white-space:nowrap">offers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1317.39px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1467.51px;white-space:nowrap">Dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2217.92px;white-space:nowrap">Reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3368.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3718.74px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4188.96px;white-space:nowrap">Purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4999.39px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5409.67px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5769.84px;white-space:nowrap">&#8220;Plan&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6359.94px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6730.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7030.28px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7780.69px;white-space:nowrap">features:</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:0px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:1120.69px;white-space:nowrap">must </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:1560.76px;text-rendering:optimizeLegibility;white-space:nowrap">affirmatively </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:2570.98px;white-space:nowrap">elect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3001.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3201.33px;white-space:nowrap">participate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:4081.82px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:4271.92px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:4572.16px;white-space:nowrap">Plan. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:5032.44px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:5182.47px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:5522.7px;white-space:nowrap">decide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:6103.13px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:6303.25px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:6643.48px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:6973.59px;white-space:nowrap">service, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:7643.76px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:8454.29px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:8804.62px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:9374.94px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:0px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1010.48px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1310.45px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1560.67px;white-space:nowrap">reinvested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:2441.16px;white-space:nowrap">automatically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:3541.64px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:3731.75px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:4322.02px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:4522.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:4822.38px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:5282.67px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:5542.73px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:5942.9px;white-space:nowrap">account.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:0px;white-space:nowrap">Whenever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:870.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:1170.62px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:1630.9px;white-space:nowrap">declares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:2361.27px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:3171.8px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:3361.9px;white-space:nowrap">either </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:3862.18px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:4292.4px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:4502.46px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:5092.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:5292.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:5593.1px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:6103.39px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:6243.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:6543.63px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:7143.75px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:7583.91px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:7763.91px;white-space:nowrap">equal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:8254.34px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:8454.46px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:8664.52px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1088.64px;left:9384.96px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:0px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:480.23px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:960.56px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:1160.68px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:1460.92px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:2231.46px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:2681.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:2982.04px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:3862.53px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:4162.5px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:4792.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:5093px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:5903.53px;white-space:nowrap">entirely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:6533.79px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:6723.9px;white-space:nowrap">new </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:7104.11px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:7694.38px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:7894.51px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:8044.63px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:8484.79px;white-space:nowrap">equal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:8975.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:9175.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:9475.58px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:0px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:480.23px;white-space:nowrap">value, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:1010.57px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:1310.8px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:1611.04px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:1981.14px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:2381.48px;white-space:nowrap">95% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:2791.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:2991.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:3292.12px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:3692.46px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:4302.69px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:4902.8px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:5342.96px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:5543.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:5843.32px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:6430.34px;white-space:nowrap">shares. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:7070.63px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:7220.65px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:7520.89px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:8121.01px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:8561.16px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:8741.16px;white-space:nowrap">lower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:9221.31px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:0px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:300.23px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:780.47px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:1260.79px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:1470.85px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:1610.86px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:2421.39px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:2981.78px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:3552.1px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:4032.42px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:5042.9px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:5353.07px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:6033.6px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:6413.82px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:6603.93px;white-space:nowrap">cash, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:7084.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:7384.39px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:8264.88px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:8564.85px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1838.64px;left:9195.12px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:0px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:890.6px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:1140.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:1441.05px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:1847.9px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:2251.49px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:2751.68px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:3602.29px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:3812.34px;white-space:nowrap">otherwise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:4632.71px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:4882.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:5183.17px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2088.64px;left:5633.61px;white-space:nowrap">market.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:0px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:160.14px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:1040.63px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:1380.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:1681.08px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:2221.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:2421.65px;white-space:nowrap">submitting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:3292.03px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:4112.67px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:4542.89px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:5373.28px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:5573.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:5873.64px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:6273.98px;letter-spacing:-0.66px;white-space:nowrap">Administrator, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:7424.38px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:7614.49px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:7954.72px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:8695.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:8895.23px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:9095.36px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:9525.59px;white-space:nowrap">$100, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:0px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:250.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:450.35px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:600.47px;white-space:nowrap">maximum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:1430.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:1630.63px;white-space:nowrap">$5,000 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:2231.19px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:2541.36px;white-space:nowrap">month, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:3141.65px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:3401.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:3701.95px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:4492.44px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:4692.57px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:5152.85px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:5743.13px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:6003.19px;white-space:nowrap">his </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:6283.3px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:6493.36px;white-space:nowrap">her </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:6803.53px;white-space:nowrap">account. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:7530.73px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:8081.02px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:8911.41px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:9251.63px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:9501.86px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:240.12px;white-space:nowrap">check </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:760.34px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:1440.88px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:1631.07px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:2441.34px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:2938.27px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:3651.77px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:3998.85px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:4452.19px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:5272.56px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:5652.77px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:6012.95px;white-space:nowrap">&#8220;Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:6473.23px;white-space:nowrap">Administrator&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:7703.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:8053.77px;white-space:nowrap">sent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:8444px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:8634.2px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:9444.46px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:0px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:713.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:1060.58px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:1513.92px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:2334.29px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:2764.51px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:3151.41px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:3511.58px;white-space:nowrap">922, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:3911.92px;letter-spacing:-1.34px;white-space:nowrap">Wall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:4305.23px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:4835.48px;white-space:nowrap">Station, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:5495.89px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:5902.73px;letter-spacing:-2.75px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:6356.34px;letter-spacing:-1.08px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:6653.14px;white-space:nowrap">10269-0560, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:7704.14px;white-space:nowrap">Attention: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:8511.42px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:9391.9px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:0px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:640.28px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:1147.32px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:1507.5px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:1907.84px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:3018.16px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:3318.13px;white-space:nowrap">apply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:3798.46px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:4228.68px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:5059.07px;white-space:nowrap">(less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:5489.12px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:5639.24px;white-space:nowrap">$5.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:6139.69px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:6759.84px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:7360.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:7710.56px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:8080.66px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:8230.78px;white-space:nowrap">pro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:8540.95px;white-space:nowrap">rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:8901.12px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3518.64px;left:9401.4px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:0px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:600.38px;white-space:nowrap">fees) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:1050.56px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:1250.68px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:2131.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:2331.3px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:2791.58px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:3381.86px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:3632.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:3932.31px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3768.64px;left:4382.75px;white-space:nowrap">market.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:360.18px;white-space:nowrap">automatic </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:1190.57px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:2271.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:2471.13px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:3281.66px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:3842.05px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:4412.37px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:4892.7px;white-space:nowrap">does </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:5333.03px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:5633.26px;white-space:nowrap">relieve </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:6213.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:6513.75px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:7394.24px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:7594.37px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:7934.59px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:8564.85px;white-space:nowrap">tax </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:8854.98px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:9205.22px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4198.64px;left:9595.28px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:0px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:680.54px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:930.76px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:1741.29px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4448.64px;left:1951.35px;white-space:nowrap">distributions.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:0px;white-space:nowrap">Whenever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:870.38px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:1460.65px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:1770.82px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:2661.42px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:2911.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:3211.88px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:3618.72px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:4022.31px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:4522.5px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:5373.11px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:5583.16px;white-space:nowrap">otherwise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:6403.54px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:6653.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:6953.99px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:7404.43px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:8054.56px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:8494.89px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:9375.38px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:9675.35px;white-space:nowrap">pay </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:0px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:150.12px;white-space:nowrap">pro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:460.28px;white-space:nowrap">rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:820.46px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:1420.84px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:1620.97px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:2221.35px;white-space:nowrap">fees. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:2658.34px;letter-spacing:-0.83px;white-space:nowrap">Trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:3311.98px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:3702.22px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:4002.19px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:4252.41px;white-space:nowrap">deducted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:5043.08px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:5453.09px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:6193.48px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:6393.6px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:6643.83px;white-space:nowrap">invested. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:7411.03px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:7771.2px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:8171.54px;letter-spacing:0.21px;white-space:nowrap">Administrator&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:9415.28px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:9715.52px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:9975.59px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:0px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:380.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:580.34px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:1170.62px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:1831.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:2131.35px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:2541.62px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:2721.62px;white-space:nowrap">$15.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:3322.18px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:3632.34px;white-space:nowrap">transaction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:4562.84px;white-space:nowrap">plus </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:4943.06px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:5093.17px;white-space:nowrap">$0.12 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:5593.62px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:5903.79px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:6404.06px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5378.64px;left:7004.44px;white-space:nowrap">fee.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:0px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:160.14px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:1040.63px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:1430.68px;white-space:nowrap">withdraw </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:2190.94px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:2600.95px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:2901.18px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:3311.46px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:3931.79px;white-space:nowrap">penalty </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:4562.23px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:4762.35px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:5102.58px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:5492.64px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:5732.75px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:6312.92px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:6843.25px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:7043.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:7343.61px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:7743.96px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:8854.28px;white-space:nowrap">sent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5808.64px;left:9244.51px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:0px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:810.26px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:1307.2px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:2020.69px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:2367.77px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:2821.11px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:3641.48px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:4071.71px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:4458.6px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:4818.78px;white-space:nowrap">922, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:5219.12px;letter-spacing:-1.34px;white-space:nowrap">Wall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:5612.43px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:6142.68px;white-space:nowrap">Station, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:6803.09px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:7209.93px;letter-spacing:-2.75px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:7663.54px;letter-spacing:-1.08px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:7960.34px;white-space:nowrap">10269-0560. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6058.64px;left:9021.27px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:0px;white-space:nowrap">withdrawal, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:950.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:1250.6px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:2131.08px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:2431.05px;white-space:nowrap">receive, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:3111.33px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:3731.66px;white-space:nowrap">charge, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:4382.05px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:4882.32px;text-rendering:optimizeLegibility;white-space:nowrap">certificates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:5792.61px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:6362.93px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:6553.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:6853.27px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:7860.5px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:8360.77px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:8620.84px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:8850.94px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:9131.04px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6308.64px;left:9721.32px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:540.35px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:940.69px;white-space:nowrap">Administrator; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:2101.03px;letter-spacing:-2.48px;white-space:nowrap">or, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:2351.16px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:2491.17px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:2791.41px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:3671.89px;white-space:nowrap">wishes, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:4322.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:4622.34px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:5022.69px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:6133.01px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:6432.98px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:6753.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:7053.31px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:8060.54px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:8650.81px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:9001.14px;white-space:nowrap">send </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6558.64px;left:9441.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:0px;white-space:nowrap">proceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:790.49px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:990.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:1290.85px;white-space:nowrap">participant, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:2221.35px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:2591.46px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:2741.57px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:3361.73px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:3962.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:4162.24px;white-space:nowrap">$15.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:4762.79px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:5113.13px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:5483.23px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:6083.61px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:6473.85px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:6673.97px;white-space:nowrap">$0.12 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:7174.42px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:7484.59px;white-space:nowrap">share. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:8031.62px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:8391.8px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6808.64px;left:8792.14px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:299.97px;white-space:nowrap">convert </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:940.25px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:1280.48px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:2060.86px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:2651.13px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:3041.46px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:3241.58px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:3541.82px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:3931.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:4132px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:5032.35px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:5232.48px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:5662.71px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:5862.83px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:6473.06px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:7073.17px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:7513.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:7863.66px;white-space:nowrap">send </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:8303.99px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:8454.11px;white-space:nowrap">check </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:8974.34px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7058.64px;left:9174.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.64px;left:0px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.64px;left:880.49px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.64px;left:1140.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.64px;left:1440.79px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7308.64px;left:1741.03px;white-space:nowrap">proceeds.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:320.01px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:780.12px;white-space:nowrap">information, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:1770.56px;white-space:nowrap">please </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:2350.99px;white-space:nowrap">see </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:2691.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:2991.45px;letter-spacing:-0.46px;white-space:nowrap">Plan&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:3525.21px;letter-spacing:-3.33px;white-space:nowrap">Terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:4065.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:4415.54px;white-space:nowrap">Conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:5316.06px;white-space:nowrap">located </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:5946.5px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:6146.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:6446.87px;white-space:nowrap">back </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:6877.09px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:7077.22px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7738.64px;left:7407.33px;white-space:nowrap">report.</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:6024px;letter-spacing:10.67px;white-space:nowrap">Dividend </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:6795.2px;letter-spacing:10.9px;white-space:nowrap">Reinvestment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8005.89px;letter-spacing:9px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8367.25px;letter-spacing:9.6px;white-space:nowrap">Cash </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:8828.11px;letter-spacing:10.67px;white-space:nowrap">Purchase </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:178.59px;left:9701.34px;letter-spacing:9px;white-space:nowrap">Plan</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">49</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5653.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:0px;letter-spacing:-1.1px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:-21.36px;left:753.66px;white-space:nowrap">Agent</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:0px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:810.26px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:1307.2px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:2020.69px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:2367.77px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:2821.11px;letter-spacing:-1.48px;white-space:nowrap">Company, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:408.64px;left:3678.13px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:0px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:386.89px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:747.07px;white-space:nowrap">922, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1147.41px;letter-spacing:-1.34px;white-space:nowrap">Wall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:1540.72px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:658.64px;left:2070.97px;white-space:nowrap">Station,</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:0px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:406.85px;letter-spacing:-2.75px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:860.45px;letter-spacing:-1.08px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1157.26px;white-space:nowrap">10269-056</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:0px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1338.64px;left:470.21px;white-space:nowrap">416-5585</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1588.64px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.5px;white-space:nowrap">www.astfinancial.com</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1838.64px;left:0px;white-space:nowrap">Direct </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1838.64px;left:560.21px;white-space:nowrap">Deposit </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1838.64px;left:1270.28px;white-space:nowrap">Service </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1838.64px;left:1960.84px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1838.64px;left:2250.79px;white-space:nowrap">Registered </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:1838.64px;left:3231.12px;white-space:nowrap">Shareholders</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:0px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:470.21px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:1480.69px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:1820.92px;white-space:nowrap">now </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:2201.13px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:2451.36px;white-space:nowrap">electronically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:3541.82px;white-space:nowrap">credited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:4232.2px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:4432.32px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:4582.44px;white-space:nowrap">checking </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:5342.87px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:5552.93px;white-space:nowrap">savings </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:6213.25px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:6893.7px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:7093.83px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:7434.05px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:8144.47px;white-space:nowrap">institution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2268.64px;left:8954.91px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:0px;white-space:nowrap">participates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:970.49px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:1160.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:1450.9px;white-space:nowrap">Automated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:2371.46px;white-space:nowrap">Clearing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:3091.82px;white-space:nowrap">House </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:3662.14px;white-space:nowrap">(&#8220;ACH&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:4331.95px;white-space:nowrap">system. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:4998.78px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:5358.96px;white-space:nowrap">Direct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:5879px;white-space:nowrap">Deposit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:6539.33px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:7159.48px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:7339.48px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:8079.96px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2518.64px;left:8340.03px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:0px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:1090.63px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:1290.76px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:1540.99px;white-space:nowrap">charge. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:2188.13px;letter-spacing:-6.65px;white-space:nowrap">To </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:2428.24px;white-space:nowrap">enroll </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:2918.5px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:3108.6px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:3408.84px;white-space:nowrap">service, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:4079px;white-space:nowrap">access </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:4689.23px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:5089.39px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:5769.84px;white-space:nowrap">online </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:6300.26px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:6540.38px;white-space:nowrap">going </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:7030.81px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:7230.94px;text-rendering:optimizeLegibility;letter-spacing:-0.47px;white-space:nowrap">www.astfinancial.com </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:9001.58px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:9211.64px;white-space:nowrap">dial </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2768.64px;left:9541.85px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:0px;white-space:nowrap">416-5585 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:810.7px;white-space:nowrap">(toll </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:1150.75px;white-space:nowrap">free) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:1570.87px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:1921.2px;white-space:nowrap">follow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:2431.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:2731.64px;white-space:nowrap">instructions. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:3742.03px;white-space:nowrap">Direct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:4262.08px;white-space:nowrap">Deposit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:4922.4px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:5222.37px;white-space:nowrap">begin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:5712.8px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:6082.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:6383.14px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:6773.38px;white-space:nowrap">scheduled </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:7644.02px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:8564.5px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3018.64px;left:9304.89px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:0px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:750.41px;white-space:nowrap">enrollment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:1640.83px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:1830.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3268.64px;left:2131.17px;white-space:nowrap">service.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3698.64px;left:0px;white-space:nowrap">Direct </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:3698.64px;left:560.21px;white-space:nowrap">Registration</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:0px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:150.03px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:490.25px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:800.42px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:950.54px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:1800.97px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:2801.6px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:3001.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:3301.96px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:3812.26px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:4692.74px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:4892.87px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:5483.14px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:5683.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:5983.51px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:6443.79px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:6784.01px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:7034.24px;white-space:nowrap">electronically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:8124.7px;white-space:nowrap">credited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:8815.08px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:9015.21px;white-space:nowrap">your </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4128.64px;left:9415.37px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:0px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:680.45px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:870.64px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:1680.91px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:2177.84px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:2891.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:3238.42px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:3691.76px;letter-spacing:-1.48px;white-space:nowrap">Company, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:4548.78px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:4928.99px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:5589.49px;white-space:nowrap">Direct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:6109.54px;white-space:nowrap">Registration. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:7166.78px;white-space:nowrap">This </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:7556.84px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:8176.99px;white-space:nowrap">provides </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4378.64px;left:8907.36px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:0px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:370.11px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:520.22px;white-space:nowrap">convenient </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:1440.88px;white-space:nowrap">way </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:1810.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:2011.11px;white-space:nowrap">keep </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:2451.45px;white-space:nowrap">track </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:2891.51px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:3091.64px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:3681.91px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:4342.41px;white-space:nowrap">book </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:4782.74px;white-space:nowrap">entry </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:5232.92px;white-space:nowrap">transactions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:6303.43px;white-space:nowrap">electronically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:7393.89px;white-space:nowrap">move </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:7884.05px;white-space:nowrap">book-entry </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:8784.49px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4628.64px;left:9374.77px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:0px;white-space:nowrap">broker-dealers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:1260.53px;white-space:nowrap">transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:1920.76px;white-space:nowrap">agents </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:2511.21px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:2861.54px;white-space:nowrap">DRS </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:3291.59px;white-space:nowrap">eligible </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:3901.99px;white-space:nowrap">issuers, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:4572.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:4922.49px;white-space:nowrap">eliminate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:5692.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:5993.09px;white-space:nowrap">possibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:6823.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:7023.52px;white-space:nowrap">lost </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:7353.63px;text-rendering:optimizeLegibility;white-space:nowrap">certificates. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:8313.93px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4878.64px;left:8633.94px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:0px;white-space:nowrap">information, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:990.44px;white-space:nowrap">please </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:1570.87px;white-space:nowrap">contact </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:2191.29px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:3001.55px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:3498.49px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:4211.98px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:4559.06px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:5012.4px;letter-spacing:-1.48px;white-space:nowrap">Company, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:5869.42px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:6249.64px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:6449.77px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5128.64px;left:6919.98px;white-space:nowrap">416-5585.</div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5558.64px;left:0px;white-space:nowrap">Shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;font-weight:bold;position:absolute;top:5558.64px;left:1100.3px;white-space:nowrap">Information</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:0px;white-space:nowrap">Shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:620.33px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:817.21px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:1697.7px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:2268.02px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:2908.3px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:3368.58px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:3678.75px;white-space:nowrap">traded </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:4239.14px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:4489.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:4789.6px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:5196.45px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:5600.04px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:6100.22px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:6950.83px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:7461.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:7761.45px;white-space:nowrap">symbol </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:8381.6px;white-space:nowrap">&#8220;GIM.&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5988.64px;left:8941.46px;white-space:nowrap">Information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:0px;white-space:nowrap">about </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:500.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:800.68px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:1100.92px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:1581.15px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:2061.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:2411.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:2712.04px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:3312.16px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:3752.31px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:3932.31px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:4692.83px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6238.64px;left:4892.96px;white-space:nowrap">franklintempleton.com.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:0px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:320.01px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:930.23px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:1870.66px;white-space:nowrap">about </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:2371.11px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:3181.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:3531.97px;white-space:nowrap">shareholder </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:4532.61px;white-space:nowrap">accounts, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:5353.07px;white-space:nowrap">call </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:5673.16px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:6143.38px;white-space:nowrap">416-5585. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:7004.09px;white-space:nowrap">Registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:7924.57px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6668.64px;left:9015.21px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:0px;white-space:nowrap">access </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:610.22px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:1010.39px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:1470.67px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:2151.12px;white-space:nowrap">on-line. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:2791.49px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:3111.5px;white-space:nowrap">information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:4051.93px;white-space:nowrap">go </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:4302.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:4492.35px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:5302.62px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:5799.55px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:6513.05px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:6860.13px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:7313.47px;letter-spacing:-1.48px;white-space:nowrap">Company, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:8170.49px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:8550.7px;white-space:nowrap">website </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:9211.03px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6918.64px;left:9411.15px;letter-spacing:-2.48px;white-space:nowrap">www.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">astfinancial.com </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168.64px;left:1340.6px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168.64px;left:1690.93px;white-space:nowrap">follow </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168.64px;left:2201.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7168.64px;left:2501.37px;white-space:nowrap">instructions.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:360.18px;white-space:nowrap">daily </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:780.38px;white-space:nowrap">closing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:1390.69px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:1690.93px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:2171.16px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:2651.48px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:2891.6px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:3091.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:3391.96px;white-space:nowrap">previous </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:4122.33px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:4882.76px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:5222.99px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:5613.05px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:5863.27px;white-space:nowrap">obtained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:6603.93px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:7084.25px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:7844.77px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:8084.88px;white-space:nowrap">calling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7598.64px;left:8645.19px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:0px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:880.49px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:1340.77px;white-space:nowrap">Information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:2291.22px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:2701.41px;white-space:nowrap">7 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:2851.52px;white-space:nowrap">a.m. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:3251.6px;text-rendering:optimizeLegibility;white-space:nowrap">Pacific </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:3831.77px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:4221.83px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:4562.05px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:5322.48px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:5662.71px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:5862.83px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:6333.05px;letter-spacing:-1.34px;white-space:nowrap">DIAL </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:6776.54px;white-space:nowrap">BEN/342-5236. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:8054.12px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:8414.3px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:9001.32px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7848.64px;left:9301.55px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:480.32px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:830.65px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:1641.18px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:1951.35px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:2331.56px;white-space:nowrap">listed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:2801.78px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:3052px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:3352.24px;white-space:nowrap">NASDAQ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:4162.41px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:4662.6px;white-space:nowrap">Market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:5312.72px;letter-spacing:-0.46px;white-space:nowrap">Inc.&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:5779.6px;white-space:nowrap">Mutual </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:6369.87px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:6830.16px;white-space:nowrap">Quotation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:7660.72px;white-space:nowrap">Service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:8310.94px;white-space:nowrap">(&#8220;NASDAQ </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8098.64px;left:9241px;white-space:nowrap">MFQS&#8221;). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:0px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:1120.69px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:1420.93px;white-space:nowrap">receiving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:2191.29px;white-space:nowrap">copies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:2761.61px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:2961.74px;white-space:nowrap">reports </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:3571.96px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:3772.09px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:4862.72px;white-space:nowrap">because </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:5593.27px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:5993.44px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:6583.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:6893.88px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:7744.31px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:7934.41px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:8234.65px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:8734.92px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:8935.05px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:9085.17px;white-space:nowrap">broker </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:9645.38px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8528.64px;left:9855.44px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:0px;white-space:nowrap">custodian </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:820.55px;white-space:nowrap">can </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:1160.77px;white-space:nowrap">request </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:1811.16px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:2161.41px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:2551.64px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:2801.87px;white-space:nowrap">added </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:3352.41px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:3552.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:3852.77px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:4439.79px;white-space:nowrap">mailing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:5060.04px;white-space:nowrap">list, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:5380.05px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:5620.17px;white-space:nowrap">writing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:6187.06px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:7067.55px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:7637.87px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:8278.15px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:8788.45px;white-space:nowrap">100 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8778.64px;left:9138.78px;white-space:nowrap">Fountain </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:0px;letter-spacing:-1.48px;white-space:nowrap">Parkway, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:776.87px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:1163.76px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:1523.94px;white-space:nowrap">33030, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:2124.49px;white-space:nowrap">St. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:2394.58px;white-space:nowrap">Petersburg, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:3375.09px;white-space:nowrap">FL, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9028.64px;left:3685.17px;white-space:nowrap">33733-8030.</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:26px;left:36px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:432px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
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			<div style="width:10080px;height:648px;position:absolute;top:7.44px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:869.77px;white-space:nowrap">Members </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:2182.15px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:2756.78px;text-rendering:optimizeLegibility;white-space:nowrap">Officers</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:360.18px;white-space:nowrap">name, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:910.46px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1310.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1510.75px;white-space:nowrap">birth </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1910.92px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2261.25px;white-space:nowrap">address </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2951.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3151.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3451.99px;text-rendering:optimizeLegibility;white-space:nowrap">officers </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4082.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4432.5px;white-space:nowrap">board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4942.88px;white-space:nowrap">members, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5793.05px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6033.16px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6393.25px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6633.37px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7033.54px;text-rendering:optimizeLegibility;white-space:nowrap">affiliations, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7933.97px;white-space:nowrap">positions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8694.4px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9084.73px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:296.98px;letter-spacing:-0.95px;white-space:nowrap">Trust, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:800.33px;white-space:nowrap">principal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1520.68px;white-space:nowrap">occupations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2531.34px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3081.71px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3281.84px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3712.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4012.29px;white-space:nowrap">past </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4402.53px;text-rendering:optimizeLegibility;white-space:nowrap">five </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4732.65px;white-space:nowrap">years </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5222.81px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5573.14px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6233.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6433.59px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6833.67px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7684.1px;white-space:nowrap">portfolios </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8464.48px;white-space:nowrap">overseen </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9254.97px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9445.08px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:686.95px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1567.44px;white-space:nowrap">fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1967.78px;white-space:nowrap">complex, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2738.06px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3048.22px;white-space:nowrap">shown </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3618.54px;letter-spacing:-1.42px;white-space:nowrap">below. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4178.94px;letter-spacing:-1.21px;white-space:nowrap">Generally, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5035.96px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5476.29px;white-space:nowrap">board </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5986.67px;white-space:nowrap">member </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6696.83px;white-space:nowrap">serves </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7276.99px;white-space:nowrap">until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7657.21px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8007.45px;letter-spacing:-0.36px;white-space:nowrap">person&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8734.57px;white-space:nowrap">successor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9594.84px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">elected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:630.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:980.77px;text-rendering:optimizeLegibility;white-space:nowrap">qualified.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1304.91px;left:0px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1304.91px;left:1518.11px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:1304.91px;left:2284.14px;white-space:nowrap">Members</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1868.06px;left:0px;white-space:nowrap">Name, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1868.06px;left:521.8px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1868.06px;left:904.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1868.06px;left:1099.84px;white-space:nowrap">Birth </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:322.97px;white-space:nowrap">Address</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:2316px;white-space:nowrap">Position</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1868.06px;left:3632px;white-space:nowrap">Length </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1868.06px;left:4209.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:3632px;letter-spacing:-0.58px;white-space:nowrap">Time </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:4047px;white-space:nowrap">Served</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1676.06px;left:5348px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1676.06px;left:5996.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1676.06px;left:6192.45px;white-space:nowrap">Portfolios </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1676.06px;left:6983.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1868.06px;left:5348px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1868.06px;left:5783.39px;white-space:nowrap">Complex </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1868.06px;left:6503.55px;white-space:nowrap">Overseen </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:5348px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:5579.17px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:6085.89px;white-space:nowrap">Member*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1868.06px;left:7514px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1868.06px;left:7985.17px;white-space:nowrap">Directorships </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1868.06px;left:9061.03px;white-space:nowrap">Held </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:7514px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:8073.92px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:8260.64px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:8723.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:9007.52px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:9389.94px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2060.06px;left:9520.48px;letter-spacing:-1.77px;white-space:nowrap">Years</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2356.54px;left:0px;white-space:nowrap">Harris </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2356.54px;left:506.95px;white-space:nowrap">J. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2356.54px;left:678.91px;white-space:nowrap">Ashton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2356.54px;left:1274.38px;white-space:nowrap">(1932)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2356.54px;left:2316px;letter-spacing:-0.85px;white-space:nowrap">Trustee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2356.54px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2356.54px;left:4076.69px;white-space:nowrap">1992</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2356.54px;left:5348px;white-space:nowrap">125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2356.54px;left:7514px;white-space:nowrap">Bar-S </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2356.54px;left:7967.44px;white-space:nowrap">Foods </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2356.54px;left:8456.58px;white-space:nowrap">(meat </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2356.54px;left:8910.02px;white-space:nowrap">packing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2548.54px;left:7514px;white-space:nowrap">company) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2548.54px;left:8260.95px;white-space:nowrap">(1981-2010).</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2563.03px;left:0px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2563.03px;left:311.41px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2563.03px;left:658.2px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2563.03px;left:969.61px;white-space:nowrap">Street</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2755.03px;left:0px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2755.03px;left:328.91px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2755.03px;left:1218.52px;letter-spacing:-1.98px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2755.03px;left:1443.75px;white-space:nowrap">33301-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2947.03px;left:0px;white-space:nowrap">1923</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3243.51px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3243.51px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3243.51px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3243.51px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3243.51px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3243.51px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3243.51px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3243.51px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3243.51px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:0px;white-space:nowrap">Director </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:604.53px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:782.42px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:1342.66px;white-space:nowrap">companies; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:2205.31px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3450px;left:2516.72px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:3156.95px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:3245.86px;letter-spacing:-0.88px;white-space:nowrap">Director, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:3886.02px;white-space:nowrap">RBC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:4268.28px;white-space:nowrap">Holdings, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:4979.77px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:5282.11px;white-space:nowrap">(bank </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:5726.8px;white-space:nowrap">holding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:6287.27px;white-space:nowrap">company) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:7034.22px;white-space:nowrap">(until </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:7425.47px;white-space:nowrap">2002); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:7923.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:8235px;white-space:nowrap">President, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3450px;left:8999.84px;white-space:nowrap">Chief </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:0px;white-space:nowrap">Executive </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:738.13px;text-rendering:optimizeLegibility;white-space:nowrap">Officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:1253.75px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:1565.16px;white-space:nowrap">Chairman </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:2303.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:2481.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:2747.97px;white-space:nowrap">Board, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:3263.83px;white-space:nowrap">General </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:3877.5px;white-space:nowrap">Host </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:4250.94px;white-space:nowrap">Corporation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:5131.41px;white-space:nowrap">(nursery </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:5762.66px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:6074.06px;white-space:nowrap">craft </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:6429.69px;white-space:nowrap">centers) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:7052.11px;white-space:nowrap">(until </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3642px;left:7443.36px;white-space:nowrap">1998).</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4113.48px;left:0px;white-space:nowrap">Ann </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4113.48px;left:355.47px;letter-spacing:-1.98px;white-space:nowrap">Torre </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4113.48px;left:797.03px;white-space:nowrap">Bates </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4113.48px;left:1277.27px;white-space:nowrap">(1958)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4113.48px;left:2316px;letter-spacing:-0.85px;white-space:nowrap">Trustee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4113.48px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4113.48px;left:4076.69px;white-space:nowrap">2008</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4113.48px;left:5348px;white-space:nowrap">30</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4113.48px;left:7514px;white-space:nowrap">Ares </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4113.48px;left:7887.44px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4113.48px;left:8429.94px;white-space:nowrap">Corporation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4113.48px;left:9310.41px;white-space:nowrap">(specialty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4305.48px;left:7514px;text-rendering:optimizeLegibility;white-space:nowrap">finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4305.48px;left:8074.39px;white-space:nowrap">company) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4305.48px;left:8821.34px;white-space:nowrap">(2010-present), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.48px;left:7514px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.48px;left:8020.95px;white-space:nowrap">Natural </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.48px;left:8581.19px;white-space:nowrap">Foods, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4497.48px;left:9114.78px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4689.48px;left:7514px;white-space:nowrap">(distributor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4689.48px;left:8314.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4689.48px;left:8492.13px;white-space:nowrap">natural, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4689.48px;left:9070.25px;white-space:nowrap">organic </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4689.48px;left:9639.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4881.48px;left:7514px;white-space:nowrap">specialty </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4881.48px;left:8180.95px;white-space:nowrap">foods) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4881.48px;left:8670.09px;white-space:nowrap">(2013-present), </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5073.48px;left:7514px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5073.48px;left:8154.23px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5073.48px;left:8234.31px;white-space:nowrap">Allied </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5073.48px;left:8670.09px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5073.48px;left:9212.59px;white-space:nowrap">Corporation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5265.48px;left:7514px;text-rendering:optimizeLegibility;white-space:nowrap">(financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5265.48px;left:8198.77px;white-space:nowrap">services) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5265.48px;left:8883.3px;white-space:nowrap">(2003-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5457.48px;left:7514px;white-space:nowrap">2010), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5457.48px;left:8012.13px;white-space:nowrap">SLM </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5457.48px;left:8385.56px;white-space:nowrap">Corporation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5457.48px;left:9266.03px;white-space:nowrap">(Sallie </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5649.48px;left:7514px;white-space:nowrap">Mae) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5649.48px;left:7922.98px;white-space:nowrap">(1997-2014) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5649.48px;left:8839.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5649.48px;left:9150.56px;white-space:nowrap">Navient </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5841.48px;left:7514px;white-space:nowrap">Corporation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5841.48px;left:8394.47px;white-space:nowrap">(loan </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5841.48px;left:8794.7px;white-space:nowrap">management, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6033.48px;left:7514px;white-space:nowrap">servicing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6033.48px;left:8189.78px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6033.48px;left:8501.19px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6033.48px;left:8928.06px;white-space:nowrap">recovery) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6225.48px;left:7514px;white-space:nowrap">(2014-2016).</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4319.97px;left:0px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4319.97px;left:311.41px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4319.97px;left:658.2px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4319.97px;left:969.61px;white-space:nowrap">Street</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4511.97px;left:0px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4511.97px;left:328.91px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4511.97px;left:1218.52px;letter-spacing:-1.98px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4511.97px;left:1443.75px;white-space:nowrap">33301-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4703.97px;left:0px;white-space:nowrap">1923</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6431.97px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6431.97px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6431.97px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6431.97px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6431.97px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6431.97px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6431.97px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6431.97px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6431.97px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:0px;white-space:nowrap">Director </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:604.53px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:782.42px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:1342.66px;white-space:nowrap">companies; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:2205.31px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6638.45px;left:2516.72px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:3156.95px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:3245.86px;white-space:nowrap">Executive </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:3983.98px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:4336.8px;white-space:nowrap">President </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:5057.19px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:5368.59px;white-space:nowrap">Chief </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:5786.56px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:6471.33px;text-rendering:optimizeLegibility;letter-spacing:-0.98px;white-space:nowrap">Officer, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:7022.58px;letter-spacing:-0.72px;white-space:nowrap">NHP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:7401.95px;white-space:nowrap">Incorporated </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:8344.77px;white-space:nowrap">(manager </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:9073.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6638.45px;left:9251.88px;white-space:nowrap">multifamily </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6830.45px;left:0px;white-space:nowrap">housing) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6830.45px;left:658.2px;white-space:nowrap">(1995-1997); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6830.45px;left:1618.83px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6830.45px;left:1930.23px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6830.45px;left:2283.05px;white-space:nowrap">President </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6830.45px;left:3003.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6830.45px;left:3311.95px;letter-spacing:-1.34px;white-space:nowrap">Treasurer, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6830.45px;left:4079.61px;white-space:nowrap">US </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6830.45px;left:4337.5px;white-space:nowrap">Airways, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6830.45px;left:4986.48px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6830.45px;left:5288.83px;white-space:nowrap">(until </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6830.45px;left:5680.08px;white-space:nowrap">1995).</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7301.94px;left:0px;white-space:nowrap">Mary </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7301.94px;left:417.97px;white-space:nowrap">C. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7301.94px;left:622.42px;white-space:nowrap">Choksi </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7301.94px;left:1200.31px;white-space:nowrap">(1950)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7301.94px;left:2316px;letter-spacing:-0.85px;white-space:nowrap">Trustee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7301.94px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7301.94px;left:4076.69px;white-space:nowrap">2016</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7301.94px;left:5348px;white-space:nowrap">125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7301.94px;left:7514px;white-space:nowrap">Omnicom </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7301.94px;left:8242.98px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7301.94px;left:8732.13px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7301.94px;left:9034.47px;white-space:nowrap">(advertising </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7493.94px;left:7514px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7493.94px;left:7825.41px;white-space:nowrap">marketing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7493.94px;left:8572.36px;white-space:nowrap">communications </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7685.94px;left:7514px;white-space:nowrap">services) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7685.94px;left:8198.53px;letter-spacing:-0.79px;white-space:nowrap">(2011-present) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7685.94px;left:9280.56px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7685.94px;left:9591.97px;white-space:nowrap">White </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7877.94px;left:7514px;white-space:nowrap">Mountains </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7877.94px;left:8296.66px;white-space:nowrap">Insurance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7877.94px;left:9043.77px;white-space:nowrap">Group, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7877.94px;left:9577.36px;white-space:nowrap">Ltd. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8069.94px;left:7514px;white-space:nowrap">(holding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8069.94px;left:8127.75px;white-space:nowrap">company) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8069.94px;left:8874.7px;white-space:nowrap">(2017-present); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8261.94px;left:7514px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8261.94px;left:7825.41px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8261.94px;left:8465.64px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8261.94px;left:8545.72px;letter-spacing:-0.58px;white-space:nowrap">Avis </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8261.94px;left:8889.55px;white-space:nowrap">Budget </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8261.94px;left:9441.11px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8453.94px;left:7514px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8453.94px;left:7816.34px;white-space:nowrap">(car </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8453.94px;left:8136.34px;white-space:nowrap">rental) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8453.94px;left:8634.31px;white-space:nowrap">(2007-May </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8453.94px;left:9443.53px;white-space:nowrap">2020).</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7508.42px;left:0px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7508.42px;left:311.41px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7508.42px;left:658.2px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7508.42px;left:969.61px;white-space:nowrap">Street</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7700.42px;left:0px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7700.42px;left:328.91px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7700.42px;left:1218.52px;letter-spacing:-1.98px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7700.42px;left:1443.75px;white-space:nowrap">33301-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7892.42px;left:0px;white-space:nowrap">1923</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8660.42px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8660.42px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8660.42px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8660.42px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8660.42px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8660.42px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8660.42px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8660.42px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8660.42px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:0px;white-space:nowrap">Director </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:604.53px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:782.42px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:1342.66px;white-space:nowrap">companies; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:2205.31px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8866.9px;left:2516.72px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:3156.95px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:3245.86px;white-space:nowrap">Founder </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:3886.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:4197.66px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:4695.78px;letter-spacing:-0.98px;white-space:nowrap">Advisor, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:5309.38px;white-space:nowrap">Strategic </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:5985.23px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:6812.27px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:7301.41px;white-space:nowrap">(investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:8172.81px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8866.9px;left:9151.17px;white-space:nowrap">group) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:0px;white-space:nowrap">(2015-2017); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:960.63px;white-space:nowrap">Founding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:1672.27px;white-space:nowrap">Partner </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:2241.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:2552.81px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:3059.77px;white-space:nowrap">Managing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:3806.95px;letter-spacing:-0.88px;white-space:nowrap">Director, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:4447.11px;white-space:nowrap">Strategic </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:5122.97px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:5950px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:6439.14px;white-space:nowrap">(1987-2015); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:7399.77px;white-space:nowrap">Founding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:8111.41px;white-space:nowrap">Partner </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:8680.55px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9058.9px;left:8991.95px;white-space:nowrap">Managing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:0px;letter-spacing:-0.88px;white-space:nowrap">Director, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:640.16px;white-space:nowrap">Emerging </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:1369.38px;white-space:nowrap">Markets </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:1982.81px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:2961.17px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:3299.14px;white-space:nowrap">(investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:4170.55px;white-space:nowrap">management </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:5148.91px;text-rendering:optimizeLegibility;white-space:nowrap">firm) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:5513.2px;letter-spacing:-0.91px;white-space:nowrap">(1987-2011); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:6461.95px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:6773.36px;white-space:nowrap">Loan </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:7173.75px;text-rendering:optimizeLegibility;white-space:nowrap">Officer/Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:8196.33px;white-space:nowrap">Loan </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9250.9px;left:8596.72px;text-rendering:optimizeLegibility;white-space:nowrap">Officer/Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9442.9px;left:0px;white-space:nowrap">Pension </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9442.9px;left:622.66px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9442.9px;left:1449.69px;text-rendering:optimizeLegibility;letter-spacing:-0.98px;white-space:nowrap">Officer, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9442.9px;left:2000.94px;letter-spacing:-0.48px;white-space:nowrap">World </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9442.9px;left:2460.31px;white-space:nowrap">Bank </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9442.9px;left:2869.45px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9442.9px;left:3358.59px;white-space:nowrap">(international </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9442.9px;left:4328.05px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9442.9px;left:4959.53px;white-space:nowrap">institution) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9442.9px;left:5733.2px;white-space:nowrap">(1977-1987).</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div 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			<div style="width:10080px;height:12901px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">





































			<div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:0px;white-space:nowrap">Name, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:521.8px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:904.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:1099.84px;white-space:nowrap">Birth </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:322.97px;white-space:nowrap">Address</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:2316px;white-space:nowrap">Position</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:3632px;white-space:nowrap">Length </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:4209.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:3632px;letter-spacing:-0.58px;white-space:nowrap">Time </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:4047px;white-space:nowrap">Served</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:5348px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:5996.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:6192.45px;white-space:nowrap">Portfolios </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:6983.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:5348px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:5783.39px;white-space:nowrap">Complex </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:6503.55px;white-space:nowrap">Overseen </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:5348px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:5579.17px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:6085.89px;white-space:nowrap">Member*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:7514px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:7985.17px;white-space:nowrap">Directorships </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:9061.03px;white-space:nowrap">Held </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:7514px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:8073.92px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:8260.64px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:8723.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:9007.52px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:9389.94px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:9520.48px;letter-spacing:-1.77px;white-space:nowrap">Years</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:0px;white-space:nowrap">Edith </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:444.38px;white-space:nowrap">E. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:640px;white-space:nowrap">Holiday </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:1262.34px;white-space:nowrap">(1952)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:2316px;white-space:nowrap">Lead </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:2716.39px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:2316px;letter-spacing:-0.85px;white-space:nowrap">Trustee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:3632px;letter-spacing:-0.74px;white-space:nowrap">Trustee </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:4212.94px;white-space:nowrap">since</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:3632px;white-space:nowrap">1996 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:4032.39px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:4343.8px;white-space:nowrap">Lead</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1404.79px;left:3632px;white-space:nowrap">Independent</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.79px;left:3632px;letter-spacing:-0.74px;white-space:nowrap">Trustee </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.79px;left:4212.94px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.79px;left:4630.91px;white-space:nowrap">2007</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:5348px;white-space:nowrap">125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:7514px;white-space:nowrap">Hess </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:7922.98px;white-space:nowrap">Corporation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:8803.45px;white-space:nowrap">(exploration </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:7514px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:7691.89px;white-space:nowrap">oil </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:7896.42px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:8207.83px;white-space:nowrap">gas) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:8563.53px;white-space:nowrap">(1993-present), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1404.79px;left:7514px;white-space:nowrap">Canadian </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1404.79px;left:8243.45px;white-space:nowrap">National </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1404.79px;left:8874.94px;white-space:nowrap">Railway </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.79px;left:7514px;white-space:nowrap">(railroad) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.79px;left:8198.61px;white-space:nowrap">(2001-present), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.79px;left:9336.97px;white-space:nowrap">White </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1788.79px;left:7514px;white-space:nowrap">Mountains </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1788.79px;left:8296.66px;white-space:nowrap">Insurance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1788.79px;left:9043.77px;white-space:nowrap">Group, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1788.79px;left:9577.36px;white-space:nowrap">Ltd. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1980.79px;left:7514px;white-space:nowrap">(holding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1980.79px;left:8127.75px;white-space:nowrap">company) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1980.79px;left:8874.7px;white-space:nowrap">(2004-present), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2172.79px;left:7514px;white-space:nowrap">Santander </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2172.79px;left:8296.81px;white-space:nowrap">Consumer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2172.79px;left:9079.31px;letter-spacing:-2.21px;white-space:nowrap">USA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2364.79px;left:7514px;white-space:nowrap">Holdings, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2364.79px;left:8225.48px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2364.79px;left:8527.83px;white-space:nowrap">(consumer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2364.79px;left:9328.06px;text-rendering:optimizeLegibility;white-space:nowrap">finance) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2556.79px;left:7514px;white-space:nowrap">(2016-present); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2556.79px;left:8652.36px;white-space:nowrap">Santander </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2748.79px;left:7514px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2748.79px;left:8181.03px;letter-spacing:-2.21px;white-space:nowrap">USA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2748.79px;left:8545.64px;white-space:nowrap">(holding </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2748.79px;left:9159.39px;white-space:nowrap">company) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2940.79px;left:7514px;white-space:nowrap">(2019-present); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2940.79px;left:8652.36px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2940.79px;left:8963.77px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2940.79px;left:9604px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3132.79px;left:7514px;letter-spacing:-0.72px;white-space:nowrap">RTI </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3132.79px;left:7813.3px;white-space:nowrap">International </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3132.79px;left:8738.38px;white-space:nowrap">Metals, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3132.79px;left:9298.53px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3324.79px;left:7514px;white-space:nowrap">(manufacture </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3324.79px;left:8501.11px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3324.79px;left:8812.52px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3324.79px;left:9630.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.79px;left:7514px;white-space:nowrap">titanium) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.79px;left:8171.97px;white-space:nowrap">(1999-2015) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.79px;left:9088.14px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3516.79px;left:9399.55px;white-space:nowrap">H.J. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.79px;left:7514px;white-space:nowrap">Heinz </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.79px;left:7967.52px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.79px;left:8696.73px;white-space:nowrap">(processed </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3708.79px;left:9532.67px;white-space:nowrap">foods </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3900.79px;left:7514px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3900.79px;left:7825.41px;white-space:nowrap">allied </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3900.79px;left:8243.45px;white-space:nowrap">products) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3900.79px;left:8954.86px;white-space:nowrap">(1994-2013).</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1227.27px;left:0px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1227.27px;left:311.41px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1227.27px;left:658.2px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1227.27px;left:969.61px;white-space:nowrap">Street</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:0px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:328.91px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:1218.52px;letter-spacing:-1.98px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:1443.75px;white-space:nowrap">33301-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1611.27px;left:0px;white-space:nowrap">1923</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4107.27px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4107.27px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4107.27px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4107.27px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4107.27px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4107.27px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4107.27px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4107.27px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4107.27px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:0px;white-space:nowrap">Director </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:604.53px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:788.36px;letter-spacing:-0.74px;white-space:nowrap">Trustee </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:1369.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:1547.19px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:2107.42px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:2925.63px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:3237.03px;white-space:nowrap">trusts; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:3717.11px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4313.76px;left:4028.52px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:4668.75px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:4748.83px;white-space:nowrap">Assistant </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:5442.42px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:5620.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:5887.19px;white-space:nowrap">President </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:6607.58px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:6785.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:7052.34px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:7559.3px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:8057.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:8368.75px;white-space:nowrap">Secretary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:9097.89px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4313.76px;left:9275.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:0px;white-space:nowrap">Cabinet </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:595.94px;white-space:nowrap">(1990-1993); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:1556.56px;white-space:nowrap">General </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:2170.23px;white-space:nowrap">Counsel </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:2801.72px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:2979.61px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:3246.48px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:3753.44px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:4248.59px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:4918.36px;white-space:nowrap">Department </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:5798.75px;white-space:nowrap">(1989-1990); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:6759.38px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:7070.78px;white-space:nowrap">Counselor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:7844.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:8022.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:8289.3px;white-space:nowrap">Secretary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:9018.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4505.76px;left:9321.02px;white-space:nowrap">Assistant </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4697.76px;left:0px;white-space:nowrap">Secretary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4697.76px;left:729.14px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4697.76px;left:960.31px;white-space:nowrap">Public </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4697.76px;left:1431.72px;letter-spacing:-0.36px;white-space:nowrap">Affairs </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4697.76px;left:1926.72px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4697.76px;left:2238.13px;white-space:nowrap">Public </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4697.76px;left:2718.36px;white-space:nowrap">Liaison-United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4697.76px;left:3785.63px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4697.76px;left:4280.78px;letter-spacing:-0.66px;white-space:nowrap">Treasury </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4697.76px;left:4950.55px;white-space:nowrap">Department </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4697.76px;left:5830.94px;white-space:nowrap">(1988-1989).</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5169.24px;left:0px;white-space:nowrap">J. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5169.24px;left:177.89px;white-space:nowrap">Michael </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5169.24px;left:809.22px;white-space:nowrap">Luttig </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5169.24px;left:1297.89px;white-space:nowrap">(1954)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5169.24px;left:2316px;letter-spacing:-0.85px;white-space:nowrap">Trustee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5169.24px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5169.24px;left:4076.69px;white-space:nowrap">2009</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5169.24px;left:5348px;white-space:nowrap">125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5169.24px;left:7514px;white-space:nowrap">Boeing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5169.24px;left:8056.66px;white-space:nowrap">Capital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5169.24px;left:8599.16px;white-space:nowrap">Corporation </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5169.24px;left:9479.63px;white-space:nowrap">(aircraft </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5361.24px;left:7514px;text-rendering:optimizeLegibility;white-space:nowrap">financing) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5361.24px;left:8252.2px;white-space:nowrap">(2006-2010).</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5375.72px;left:0px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5375.72px;left:311.41px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5375.72px;left:658.2px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5375.72px;left:969.61px;white-space:nowrap">Street</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5567.72px;left:0px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5567.72px;left:328.91px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5567.72px;left:1218.52px;letter-spacing:-1.98px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5567.72px;left:1443.75px;white-space:nowrap">33301-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5759.72px;left:0px;white-space:nowrap">1923</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6056.21px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6056.21px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6056.21px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6056.21px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6056.21px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6056.21px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6056.21px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6056.21px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6056.21px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:0px;white-space:nowrap">Private </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:542.42px;white-space:nowrap">investor; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:1191.56px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6262.69px;left:1502.97px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:2143.2px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:2232.11px;white-space:nowrap">Counselor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:3005.86px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:3317.27px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:3815.39px;white-space:nowrap">Advisor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:4393.36px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:4571.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:4838.13px;white-space:nowrap">Chairman, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:5620.63px;white-space:nowrap">CEO, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:6056.25px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:6367.66px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:6839.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:7016.95px;white-space:nowrap">Directors, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:7745.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:7920.94px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:8241.09px;white-space:nowrap">Boeing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6262.69px;left:8783.75px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:0px;white-space:nowrap">(aerospace </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:844.92px;white-space:nowrap">company), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:1636.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:1947.73px;white-space:nowrap">member </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:2578.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:2756.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:3023.75px;white-space:nowrap">Executive </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:3761.88px;white-space:nowrap">Council </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:4339.92px;white-space:nowrap">(May </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:4739.92px;white-space:nowrap">2019-January </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:5762.81px;white-space:nowrap">1, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:5940.7px;white-space:nowrap">2020); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:6438.83px;white-space:nowrap">Executive </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:7176.95px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:7529.77px;white-space:nowrap">President, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:8294.61px;white-space:nowrap">General </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:8908.28px;white-space:nowrap">Counsel </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6454.69px;left:9539.77px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:0px;white-space:nowrap">member </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:631.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:809.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:1076.02px;white-space:nowrap">Executive </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:1814.14px;white-space:nowrap">Council, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:2433.75px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:2753.91px;white-space:nowrap">Boeing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:3296.56px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:4025.78px;white-space:nowrap">(2006-2019); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:4986.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:5297.81px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:5875.94px;white-space:nowrap">Appeals </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:6498.59px;white-space:nowrap">Court </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:6934.3px;white-space:nowrap">Judge, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:7459.14px;white-space:nowrap">United </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:7966.09px;white-space:nowrap">States </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:8464.14px;white-space:nowrap">Court </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:8899.84px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:9068.91px;white-space:nowrap">Appeals </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6646.69px;left:9691.56px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.69px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.69px;left:266.88px;white-space:nowrap">Fourth </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.69px;left:773.75px;white-space:nowrap">Circuit </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6838.69px;left:1271.56px;white-space:nowrap">(1991-2006).</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7310.18px;left:0px;white-space:nowrap">David </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7310.18px;left:480.16px;letter-spacing:-2.94px;white-space:nowrap">W. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7310.18px;left:711.25px;white-space:nowrap">Niemiec </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7310.18px;left:1369.38px;white-space:nowrap">(1949)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7310.18px;left:2316px;letter-spacing:-0.85px;white-space:nowrap">Trustee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7310.18px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7310.18px;left:4076.69px;white-space:nowrap">2005</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7310.18px;left:5348px;white-space:nowrap">30</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7310.18px;left:7514px;white-space:nowrap">Hess </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7310.18px;left:7922.98px;white-space:nowrap">Midstream </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7310.18px;left:8714.23px;letter-spacing:-0.96px;white-space:nowrap">LP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7310.18px;left:8951.5px;white-space:nowrap">(oil </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7310.18px;left:9209.31px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7502.18px;left:7514px;white-space:nowrap">gas </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7502.18px;left:7816.42px;white-space:nowrap">midstream </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7502.18px;left:8607.67px;white-space:nowrap">infrastructure) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7694.18px;left:7514px;white-space:nowrap">(2017-present).</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7516.66px;left:0px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7516.66px;left:311.41px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7516.66px;left:658.2px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7516.66px;left:969.61px;white-space:nowrap">Street</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7708.66px;left:0px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7708.66px;left:328.91px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7708.66px;left:1218.52px;letter-spacing:-1.98px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7708.66px;left:1443.75px;white-space:nowrap">33301-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7900.66px;left:0px;white-space:nowrap">1923</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8197.15px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8197.15px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8197.15px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8197.15px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8197.15px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8197.15px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8197.15px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8197.15px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8197.15px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:0px;letter-spacing:-0.98px;white-space:nowrap">Advisor, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:613.59px;white-space:nowrap">Saratoga </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:1307.42px;white-space:nowrap">Partners </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:1956.56px;white-space:nowrap">(private </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:2534.53px;white-space:nowrap">equity </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:3005.94px;white-space:nowrap">fund); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:3459.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8403.63px;left:3770.94px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:4411.17px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:4500.08px;white-space:nowrap">Managing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:5247.27px;letter-spacing:-0.88px;white-space:nowrap">Director, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:5887.42px;white-space:nowrap">Saratoga </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:6581.25px;white-space:nowrap">Partners </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:7230.39px;white-space:nowrap">(1998-2001) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:8146.56px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:8457.97px;white-space:nowrap">SBC </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:8831.41px;letter-spacing:-0.74px;white-space:nowrap">Warburg </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8403.63px;left:9483.44px;white-space:nowrap">Dillon </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:0px;white-space:nowrap">Read </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:426.95px;white-space:nowrap">(investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:1298.36px;white-space:nowrap">banking) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:1956.56px;white-space:nowrap">(1997-1998); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:2917.19px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:3270px;white-space:nowrap">Chairman, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:4052.5px;white-space:nowrap">Dillon, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:4541.56px;white-space:nowrap">Read </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:4968.52px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:5119.69px;white-space:nowrap">Co. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:5413.13px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:5715.47px;white-space:nowrap">(investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:6586.88px;white-space:nowrap">banking) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:7245.08px;white-space:nowrap">(1991-1997); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:8205.7px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:8517.11px;white-space:nowrap">Chief </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8595.63px;left:8935.08px;white-space:nowrap">Financial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8787.63px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.98px;white-space:nowrap">Officer, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8787.63px;left:551.25px;white-space:nowrap">Dillon, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8787.63px;left:1040.31px;white-space:nowrap">Read </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8787.63px;left:1467.27px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8787.63px;left:1618.44px;white-space:nowrap">Co. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8787.63px;left:1911.88px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8787.63px;left:2214.22px;white-space:nowrap">(1982-1997).</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9259.12px;left:0px;white-space:nowrap">Larry </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9259.12px;left:444.69px;white-space:nowrap">D. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9259.12px;left:649.14px;white-space:nowrap">Thompson </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9259.12px;left:1511.25px;white-space:nowrap">(1945)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9259.12px;left:2316px;letter-spacing:-0.85px;white-space:nowrap">Trustee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9259.12px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9259.12px;left:4076.69px;white-space:nowrap">2005</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9259.12px;left:5348px;white-space:nowrap">125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9259.12px;left:7514px;white-space:nowrap">Graham </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9259.12px;left:8136.42px;white-space:nowrap">Holdings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9259.12px;left:8803.45px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9451.12px;left:7514px;white-space:nowrap">(education </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9451.12px;left:8305.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9451.12px;left:8617.05px;white-space:nowrap">media </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9451.12px;left:9097.28px;white-space:nowrap">organization) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9643.12px;left:7514px;letter-spacing:-0.74px;white-space:nowrap">(2011-present); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9643.12px;left:8640.48px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9643.12px;left:8951.89px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9643.12px;left:9592.13px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9835.12px;left:7514px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9835.12px;left:7834.16px;white-space:nowrap">Southern </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9835.12px;left:8527.98px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9835.12px;left:9257.2px;white-space:nowrap">(energy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10027.12px;left:7514px;white-space:nowrap">company) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10027.12px;left:8260.95px;white-space:nowrap">(2014-May </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10027.12px;left:9070.17px;white-space:nowrap">2020; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10219.12px;left:7514px;white-space:nowrap">previously </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10219.12px;left:8278.77px;white-space:nowrap">2010-2012), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10219.12px;left:9186.11px;white-space:nowrap">Cbeyond, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10411.12px;left:7514px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10411.12px;left:7816.34px;white-space:nowrap">(business </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10411.12px;left:8545.56px;white-space:nowrap">communications </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10603.12px;left:7514px;white-space:nowrap">provider) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10603.12px;left:8189.78px;white-space:nowrap">(2010-2012).</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9465.6px;left:0px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9465.6px;left:311.41px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9465.6px;left:658.2px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9465.6px;left:969.61px;white-space:nowrap">Street</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9657.6px;left:0px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9657.6px;left:328.91px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9657.6px;left:1218.52px;letter-spacing:-1.98px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9657.6px;left:1443.75px;white-space:nowrap">33301-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9849.6px;left:0px;white-space:nowrap">1923</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10809.6px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10809.6px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10809.6px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10809.6px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10809.6px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10809.6px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10809.6px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10809.6px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10809.6px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:0px;white-space:nowrap">Director </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:604.53px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:782.42px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:1342.66px;white-space:nowrap">companies; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:2205.31px;white-space:nowrap">Counsel, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:2881.25px;white-space:nowrap">Finch </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:3316.95px;white-space:nowrap">McCranie, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:4090.47px;letter-spacing:-0.72px;white-space:nowrap">LLP </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:4416.72px;white-space:nowrap">(law </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:4754.53px;text-rendering:optimizeLegibility;white-space:nowrap">firm) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:5118.83px;white-space:nowrap">(2015-present); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:6257.19px;white-space:nowrap">John </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:6639.77px;white-space:nowrap">A. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:6835.39px;white-space:nowrap">Sibley </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:7315.63px;white-space:nowrap">Professor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:8044.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:8222.66px;white-space:nowrap">Corporate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:8978.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11016.08px;left:9290px;white-space:nowrap">Business </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:0px;letter-spacing:-1.77px;white-space:nowrap">Law, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:373.59px;white-space:nowrap">University </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:1120.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:1298.28px;white-space:nowrap">Georgia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:1911.95px;white-space:nowrap">School </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:2445.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:2623.52px;white-space:nowrap">Law </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:2961.48px;white-space:nowrap">(2015-present; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:4046.56px;white-space:nowrap">previously </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:4811.33px;letter-spacing:-0.99px;white-space:nowrap">2011-2012); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:5706.8px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11208.08px;left:6018.2px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:6658.44px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:6747.34px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:7681.56px;white-space:nowrap">Compliance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:8570.86px;white-space:nowrap">Monitor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:9148.83px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11208.08px;left:9451.41px;letter-spacing:-0.98px;white-space:nowrap">Auditor, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:0px;letter-spacing:-0.8px;white-space:nowrap">Volkswagen </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:889.53px;white-space:nowrap">AG </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:1165.16px;white-space:nowrap">(manufacturer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:2205.55px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:2383.44px;white-space:nowrap">automobiles </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:3290.63px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:3602.03px;white-space:nowrap">commercial </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:4464.38px;white-space:nowrap">vehicles) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:5140.16px;white-space:nowrap">(2017-September </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:6429.77px;white-space:nowrap">2020); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:6927.89px;white-space:nowrap">Executive </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:7666.02px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:8018.83px;white-space:nowrap">President </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:8739.22px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11400.08px;left:8836.95px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:0px;letter-spacing:-0.32px;white-space:nowrap">Affairs, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:539.45px;white-space:nowrap">General </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:1153.13px;white-space:nowrap">Counsel </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:1784.61px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:2096.02px;white-space:nowrap">Corporate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:2851.95px;letter-spacing:-1.08px;white-space:nowrap">Secretary, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:3613.67px;white-space:nowrap">PepsiCo, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:4307.34px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:4609.69px;white-space:nowrap">(consumer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:5409.92px;white-space:nowrap">products) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:6121.33px;white-space:nowrap">(2012-2014); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:7081.95px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:7588.91px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:7941.72px;white-space:nowrap">President </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:8662.11px;white-space:nowrap">- </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11592.08px;left:8759.84px;white-space:nowrap">Government </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:0px;letter-spacing:-0.32px;white-space:nowrap">Affairs, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:539.45px;white-space:nowrap">General </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:1153.13px;white-space:nowrap">Counsel </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:1784.61px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:2096.02px;letter-spacing:-1.08px;white-space:nowrap">Secretary, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:2857.73px;white-space:nowrap">PepsiCo, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:3551.41px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:3853.75px;letter-spacing:-0.91px;white-space:nowrap">(2004-2011); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:4802.5px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:5309.45px;white-space:nowrap">Fellow </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:5816.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:5991.25px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:6311.41px;white-space:nowrap">Brookings </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:7067.34px;white-space:nowrap">Institution </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:7796.64px;white-space:nowrap">(2003-2004); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:8757.27px;letter-spacing:-0.32px;white-space:nowrap">Visiting </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11784.08px;left:9314.61px;letter-spacing:-0.8px;white-space:nowrap">Professor, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:0px;white-space:nowrap">University </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:746.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:924.69px;white-space:nowrap">Georgia </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:1538.36px;white-space:nowrap">School </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:2072.03px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:2249.92px;white-space:nowrap">Law </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:2587.89px;white-space:nowrap">(2004); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:3139.3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:3450.7px;white-space:nowrap">Deputy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:3993.28px;white-space:nowrap">Attorney </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:4633.59px;white-space:nowrap">General, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:5291.72px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:5647.34px;white-space:nowrap">Department </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:6527.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:6705.63px;white-space:nowrap">Justice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11976.08px;left:7248.05px;white-space:nowrap">(2001-2003).</div></div>
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			<div style="width:10080px;height:189px;position:absolute;top:4.61px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1518.11px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:2284.14px;white-space:nowrap">Members </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:53.82px;left:3439.92px;white-space:nowrap">(continued)</div></div>
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</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:47px;left:36px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:851px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:0px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:956.09px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:1596.97px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:2242.22px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:36px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">52</div></div>
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		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:405px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:254px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:116.31px;left:1416.41px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:17px;left:80px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div></div>
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		<div style="height:13px;left:72px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div 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			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4739.51px;left:0px;white-space:nowrap">Interested </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4739.51px;left:1228.53px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4739.51px;left:1994.56px;white-space:nowrap">Members </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4739.51px;left:3150.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4739.51px;left:3656.38px;text-rendering:optimizeLegibility;white-space:nowrap">Officers</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:0px;white-space:nowrap">Name, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:521.8px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:904.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:1099.84px;white-space:nowrap">Birth </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:322.97px;white-space:nowrap">Address</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:2316px;white-space:nowrap">Position</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:3632px;white-space:nowrap">Length </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:4209.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:3632px;letter-spacing:-0.58px;white-space:nowrap">Time </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:4047px;white-space:nowrap">Served</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:5348px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:5996.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:6192.45px;white-space:nowrap">Portfolios </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:6983.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:5348px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:5783.39px;white-space:nowrap">Complex </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:6503.55px;white-space:nowrap">Overseen </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:5348px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:5579.17px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:6085.89px;white-space:nowrap">Member*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:7514px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:7985.17px;white-space:nowrap">Directorships </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:9061.03px;white-space:nowrap">Held </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:7514px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:8073.92px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:8260.64px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:8723.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:9007.52px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:9389.94px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:9520.48px;letter-spacing:-1.77px;white-space:nowrap">Years</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:0px;white-space:nowrap">Constantine </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:968.91px;white-space:nowrap">D. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:1173.36px;letter-spacing:-0.91px;white-space:nowrap">Tseretopoulos</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1212.79px;left:0px;white-space:nowrap">(1954)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:2316px;letter-spacing:-0.85px;white-space:nowrap">Trustee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:4076.69px;white-space:nowrap">1999</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:5348px;white-space:nowrap">19</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:7514px;white-space:nowrap">None</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:0px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:311.41px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:658.2px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:969.61px;white-space:nowrap">Street</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1611.27px;left:0px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1611.27px;left:328.91px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1611.27px;left:1218.52px;letter-spacing:-1.98px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1611.27px;left:1443.75px;white-space:nowrap">33301-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1803.27px;left:0px;white-space:nowrap">1923</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2099.76px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2099.76px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2099.76px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2099.76px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2099.76px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2099.76px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2099.76px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2099.76px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2099.76px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:0px;white-space:nowrap">Physician, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:773.67px;white-space:nowrap">Chief </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:1191.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:1369.53px;letter-spacing:-0.41px;white-space:nowrap">Staff, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:1784.61px;white-space:nowrap">owner </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:2264.84px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:2576.25px;white-space:nowrap">operator </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:3216.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:3394.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:3661.41px;letter-spacing:-0.85px;white-space:nowrap">Lyford </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:4144.61px;white-space:nowrap">Cay </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:4473.59px;white-space:nowrap">Hospital </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:5096.09px;white-space:nowrap">(1987-present); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:6234.45px;white-space:nowrap">director </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:6812.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:6990.31px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:7550.55px;text-rendering:optimizeLegibility;white-space:nowrap">nonprofit </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:8217.66px;white-space:nowrap">organizations; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:9258.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2498.24px;left:0px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:640.23px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:729.14px;white-space:nowrap">Cardiology </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:1538.44px;letter-spacing:-1.1px;white-space:nowrap">Fellow, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:2080.86px;white-space:nowrap">University </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:2827.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:3005.55px;white-space:nowrap">Maryland </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:3708.05px;white-space:nowrap">(1985-1987); </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:4668.67px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:4980.08px;white-space:nowrap">Internal </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:5558.2px;white-space:nowrap">Medicine </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:6242.97px;white-space:nowrap">Resident, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:6963.36px;white-space:nowrap">Greater </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:7550.23px;white-space:nowrap">Baltimore </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:8270.47px;white-space:nowrap">Medical </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:8866.25px;white-space:nowrap">Center </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2498.24px;left:9390.94px;white-space:nowrap">(1982-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2690.24px;left:0px;white-space:nowrap">1985).</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3161.72px;left:0px;white-space:nowrap">Robert </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3161.72px;left:560px;white-space:nowrap">E. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3161.72px;left:755.63px;letter-spacing:-1.19px;white-space:nowrap">Wade </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3161.72px;left:1220.86px;white-space:nowrap">(1946)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3161.72px;left:2316px;letter-spacing:-0.85px;white-space:nowrap">Trustee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3161.72px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3161.72px;left:4076.69px;white-space:nowrap">2006</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3161.72px;left:5348px;white-space:nowrap">30</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3161.72px;left:7514px;white-space:nowrap">El </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3161.72px;left:7700.72px;white-space:nowrap">Oro </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3161.72px;left:8011.89px;white-space:nowrap">Ltd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3161.72px;left:8278.77px;white-space:nowrap">(investments) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3161.72px;left:9283.45px;white-space:nowrap">(2003-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3353.72px;left:7514px;white-space:nowrap">2019).</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3368.21px;left:0px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3368.21px;left:311.41px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3368.21px;left:658.2px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3368.21px;left:969.61px;white-space:nowrap">Street</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3560.21px;left:0px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3560.21px;left:328.91px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3560.21px;left:1218.52px;letter-spacing:-1.98px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3560.21px;left:1443.75px;white-space:nowrap">33301-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3752.21px;left:0px;white-space:nowrap">1923</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4048.69px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4048.69px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4048.69px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4048.69px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4048.69px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4048.69px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4048.69px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4048.69px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4048.69px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:0px;white-space:nowrap">Attorney </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:640.31px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:818.2px;white-space:nowrap">law </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:1102.73px;white-space:nowrap">engaged </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:1770.08px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:1939.06px;white-space:nowrap">private </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:2463.75px;white-space:nowrap">practice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:3068.44px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:3281.88px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:3415.31px;white-space:nowrap">sole </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:3753.28px;white-space:nowrap">practitioner </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:4589.22px;white-space:nowrap">(1972-2008) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:5505.39px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:5816.8px;white-space:nowrap">member </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:6448.05px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:6625.94px;white-space:nowrap">various </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4255.18px;left:7186.17px;white-space:nowrap">boards.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5302.66px;left:0px;white-space:nowrap">Name, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5302.66px;left:521.8px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5302.66px;left:904.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5302.66px;left:1099.84px;white-space:nowrap">Birth</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:322.97px;white-space:nowrap">Address</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:2316px;white-space:nowrap">Position</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5302.66px;left:3632px;white-space:nowrap">Length </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5302.66px;left:4209.66px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:3632px;letter-spacing:-0.58px;white-space:nowrap">Time </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:4047px;white-space:nowrap">Served</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5110.66px;left:5348px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5110.66px;left:5996.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5110.66px;left:6192.45px;white-space:nowrap">Portfolios </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5110.66px;left:6983.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5302.66px;left:5348px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5302.66px;left:5783.39px;white-space:nowrap">Complex </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5302.66px;left:6503.55px;white-space:nowrap">Overseen </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:5348px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:5579.17px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:6085.89px;white-space:nowrap">Member*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5302.66px;left:7514px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5302.66px;left:7985.17px;white-space:nowrap">Directorships </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5302.66px;left:9061.03px;white-space:nowrap">Held </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:7514px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:8073.92px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:8260.64px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:8723.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:9007.52px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:9389.94px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5494.66px;left:9520.48px;letter-spacing:-1.77px;white-space:nowrap">Years</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5791.15px;left:0px;white-space:nowrap">**Gregory </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5791.15px;left:791.41px;white-space:nowrap">E. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5791.15px;left:987.03px;white-space:nowrap">Johnson </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5983.15px;left:0px;white-space:nowrap">(1961)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5791.15px;left:2316px;letter-spacing:-0.85px;white-space:nowrap">Trustee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5791.15px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5791.15px;left:4076.69px;white-space:nowrap">2006</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5791.15px;left:5348px;white-space:nowrap">136</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5791.15px;left:7514px;white-space:nowrap">None</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6189.63px;left:0px;white-space:nowrap">One </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6189.63px;left:346.88px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6189.63px;left:960.39px;white-space:nowrap">Parkway</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6381.63px;left:0px;white-space:nowrap">San </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6381.63px;left:329.14px;white-space:nowrap">Mateo, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6381.63px;left:862.73px;letter-spacing:-2.94px;white-space:nowrap">CA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6381.63px;left:1120.63px;white-space:nowrap">94403-1906</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6678.12px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6678.12px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6678.12px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6678.12px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6678.12px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6678.12px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6678.12px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6678.12px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6678.12px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:0px;white-space:nowrap">Executive </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:738.13px;white-space:nowrap">Chairman, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:1520.63px;white-space:nowrap">Chairman </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:2258.67px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:2436.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:2703.44px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:3174.84px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:3486.25px;letter-spacing:-0.88px;white-space:nowrap">Director, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:4126.41px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:4739.92px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:5593.59px;white-space:nowrap">Inc.; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:5940.39px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:6420.55px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:6918.67px;white-space:nowrap">director </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:7496.64px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:7683.36px;white-space:nowrap">trustee, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:8261.41px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:8474.84px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:8741.72px;white-space:nowrap">case </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:9124.14px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6884.6px;left:9470.86px;white-space:nowrap">be, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:177.89px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:613.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:791.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:1058.36px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:1467.5px;white-space:nowrap">subsidiaries </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:2356.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:2534.69px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:3148.2px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:4001.88px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:4304.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:4615.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:4793.52px;white-space:nowrap">39 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:5015.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:5193.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:5460.7px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:6278.83px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:7097.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:7266.02px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:7876.64px;letter-spacing:-1.61px;white-space:nowrap">Templeton; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:8703.75px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7076.6px;left:9056.56px;white-space:nowrap">Chairman, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:0px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:827.03px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:1556.25px;white-space:nowrap">Institute; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:2205.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7268.6px;left:2516.88px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:3157.11px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:3246.02px;white-space:nowrap">Chief </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:3663.98px;white-space:nowrap">Executive </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:4402.11px;text-rendering:optimizeLegibility;white-space:nowrap">Officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:4917.73px;white-space:nowrap">(2013-2020) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:5833.91px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:6145.31px;white-space:nowrap">President </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:6865.7px;white-space:nowrap">(1994-2015), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:7826.33px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:8439.84px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7268.6px;left:9293.52px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7740.08px;left:0px;white-space:nowrap">**Rupert </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7740.08px;left:684.53px;white-space:nowrap">H. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7740.08px;left:888.98px;white-space:nowrap">Johnson, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7740.08px;left:1644.53px;letter-spacing:-2.21px;white-space:nowrap">Jr. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7932.08px;left:0px;white-space:nowrap">(1940)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.08px;left:2316px;white-space:nowrap">Chairman </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.08px;left:3054.05px;white-space:nowrap">of</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7932.08px;left:2316px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7932.08px;left:2582.88px;white-space:nowrap">Board,</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8124.08px;left:2316px;letter-spacing:-0.74px;white-space:nowrap">Trustee </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8124.08px;left:2896.94px;white-space:nowrap">and</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8316.08px;left:2316px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8316.08px;left:2668.81px;white-space:nowrap">President</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.08px;left:3632px;white-space:nowrap">Chairman </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.08px;left:4370.05px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.08px;left:4547.94px;white-space:nowrap">the</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7932.08px;left:3632px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7932.08px;left:4103.41px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7932.08px;left:4411.92px;letter-spacing:-0.85px;white-space:nowrap">Trustee</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8124.08px;left:3632px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8124.08px;left:4049.97px;white-space:nowrap">2013 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8124.08px;left:4450.36px;white-space:nowrap">and</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8316.08px;left:3632px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8316.08px;left:3984.81px;white-space:nowrap">President</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8508.08px;left:3632px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8508.08px;left:4049.97px;white-space:nowrap">1996</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.08px;left:5348px;white-space:nowrap">125</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7740.08px;left:7514px;white-space:nowrap">None</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8138.57px;left:0px;white-space:nowrap">One </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8138.57px;left:346.88px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8138.57px;left:960.39px;white-space:nowrap">Parkway</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8330.57px;left:0px;white-space:nowrap">San </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8330.57px;left:329.14px;white-space:nowrap">Mateo, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8330.57px;left:862.73px;letter-spacing:-2.94px;white-space:nowrap">CA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8330.57px;left:1120.63px;white-space:nowrap">94403-1906</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8714.57px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8714.57px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8714.57px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8714.57px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8714.57px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8714.57px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8714.57px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8714.57px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8714.57px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:0px;white-space:nowrap">Director </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:604.53px;letter-spacing:-0.48px;white-space:nowrap">(Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:1010.63px;white-space:nowrap">Chairman), </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:1846.41px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:2459.92px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:3313.59px;white-space:nowrap">Inc.; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:3660.39px;letter-spacing:-0.88px;white-space:nowrap">Director, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:4300.55px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:4905.23px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:5607.66px;white-space:nowrap">Inc.; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:5954.45px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:6265.86px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:6746.02px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:7244.14px;white-space:nowrap">director </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:7822.11px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:8008.83px;white-space:nowrap">trustee, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:8586.88px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:8800.31px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:9067.19px;white-space:nowrap">case </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:9449.61px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8921.05px;left:9796.33px;white-space:nowrap">be, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:177.89px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:613.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:791.48px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:1058.36px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:1467.5px;white-space:nowrap">subsidiaries </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:2356.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:2534.69px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:3148.2px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:4001.88px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:4304.22px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:4615.63px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:4793.52px;white-space:nowrap">37 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:5015.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:5193.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:5460.7px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:6278.83px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:7097.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:7266.02px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9113.05px;left:7876.64px;letter-spacing:-1.77px;white-space:nowrap">Templeton.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9584.54px;left:0px;white-space:nowrap">Alison </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9584.54px;left:533.36px;white-space:nowrap">E. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9584.54px;left:728.98px;white-space:nowrap">Baur </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9584.54px;left:1137.97px;white-space:nowrap">(1964)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9584.54px;left:2316px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9584.54px;left:2668.81px;white-space:nowrap">President</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9584.54px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9584.54px;left:4076.69px;white-space:nowrap">2012</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9584.54px;left:5348px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9584.54px;left:5632.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9584.54px;left:7514px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9584.54px;left:7798.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9791.02px;left:0px;white-space:nowrap">One </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9791.02px;left:346.88px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9791.02px;left:960.39px;white-space:nowrap">Parkway</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9983.02px;left:0px;white-space:nowrap">San </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9983.02px;left:329.14px;white-space:nowrap">Mateo, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9983.02px;left:862.73px;letter-spacing:-2.94px;white-space:nowrap">CA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9983.02px;left:1120.63px;white-space:nowrap">94403-1906</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10279.51px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10279.51px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10279.51px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10279.51px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10279.51px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10279.51px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10279.51px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10279.51px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10279.51px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:0px;white-space:nowrap">Deputy </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:551.41px;white-space:nowrap">General </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:1165.08px;white-space:nowrap">Counsel, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:1841.02px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:2451.64px;letter-spacing:-1.61px;white-space:nowrap">Templeton; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:3278.75px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:3590.16px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:4070.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:4248.2px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:4683.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:4861.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:5128.67px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:5537.81px;white-space:nowrap">subsidiaries </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:6427.11px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:6605px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:7218.52px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:8072.19px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:8374.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:8685.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:8863.83px;white-space:nowrap">41 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:9086.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10485.99px;left:9264.14px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10677.99px;left:0px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10677.99px;left:818.13px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10677.99px;left:1636.33px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10677.99px;left:1805.31px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10677.99px;left:2415.94px;letter-spacing:-1.77px;white-space:nowrap">Templeton.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11149.47px;left:0px;white-space:nowrap">Breda </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11149.47px;left:497.97px;white-space:nowrap">M. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11149.47px;left:720.16px;white-space:nowrap">Beckerle </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11149.47px;left:1431.8px;white-space:nowrap">(1958)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11149.47px;left:2316px;white-space:nowrap">Chief</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11341.47px;left:2316px;white-space:nowrap">Compliance</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11533.47px;left:2316px;text-rendering:optimizeLegibility;white-space:nowrap">Officer</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11149.47px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11149.47px;left:4076.69px;white-space:nowrap">October </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11149.47px;left:4690.28px;white-space:nowrap">2020</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11149.47px;left:5348px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11149.47px;left:5632.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11149.47px;left:7514px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11149.47px;left:7798.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11355.96px;left:0px;white-space:nowrap">280 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11355.96px;left:311.41px;white-space:nowrap">Park </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11355.96px;left:676.02px;letter-spacing:-0.41px;white-space:nowrap">Avenue </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11547.96px;left:0px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11547.96px;left:361.64px;letter-spacing:-2.45px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11547.96px;left:764.84px;letter-spacing:-0.96px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11547.96px;left:1028.67px;white-space:nowrap">10017</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11844.44px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11844.44px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11844.44px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11844.44px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11844.44px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11844.44px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11844.44px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11844.44px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11844.44px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:0px;white-space:nowrap">Chief </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:417.97px;white-space:nowrap">Compliance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:1307.27px;text-rendering:optimizeLegibility;letter-spacing:-0.98px;white-space:nowrap">Officer, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:1858.52px;white-space:nowrap">Fiduciary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:2552.03px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:3379.06px;white-space:nowrap">Management </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:4357.42px;white-space:nowrap">International, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:5326.95px;white-space:nowrap">Inc., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:5673.75px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:6278.44px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:6980.86px;white-space:nowrap">Inc., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:7327.66px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:7932.34px;white-space:nowrap">Advisory </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:8590.31px;white-space:nowrap">Services, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12050.93px;left:9292.73px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:0px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:613.52px;white-space:nowrap">Mutual </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:1129.38px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:1831.8px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:2214.22px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:2824.84px;letter-spacing:-1.77px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:3607.5px;white-space:nowrap">Institutional, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:4505.78px;white-space:nowrap">LLC; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:4888.2px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:5199.61px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:5679.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:5857.66px;white-space:nowrap">41 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:6080.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:6257.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:6524.84px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:7342.97px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:8161.17px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:8330.16px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12242.93px;left:8940.78px;letter-spacing:-1.27px;white-space:nowrap">Templeton.</div></div>
		</div>
		<div style="height:22px;left:36px;position:absolute;top:85px;width:504px">
			<div style="width:10080px;height:189px;position:absolute;top:4.61px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Independent </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1518.11px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:2284.14px;white-space:nowrap">Members </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:53.82px;left:3439.92px;white-space:nowrap">(continued)</div></div>
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		<div style="height:51px;left:54px;position:absolute;top:32px;width:504px">
			<div style="width:10080px;height:936px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
		</div>
		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">53</div></div>
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		<div style="background-color:transparent;height:1px;left:54px;position:absolute;top:744px;width:504px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAACDQAAAACCAYAAACtmB4eAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAMElEQVR4Xu3KIREAMAwAsVdb/xImoaw3EBCWqgEAAAAAAAAA+MwaAAAAAAAAAABOPTnTicuMWE6aAAAAAElFTkSuQmCC);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-color:transparent;height:13px;left:527px;position:absolute;top:745px;width:1px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAIAAAA1CAYAAABryToxAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAE0lEQVQYV2NgYGBIg+JRxjBjAAAdsio9TCUTFAAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="height:17px;left:54px;position:absolute;top:744px;width:135px">
			<div style="width:2700px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">franklintempleton.com</div></div>
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		<div style="height:17px;left:189px;position:absolute;top:744px;width:324px">
			<div style="width:6492px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:5653.45px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:6098.45px;white-space:nowrap">Report</div></div>
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		<div style="height:13px;left:514px;position:absolute;top:745px;width:9px">

		<div style="background-color:transparent;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAACQAAAA2CAYAAACvHjsIAAAACXBIWXMAAC4jAAAuIwF4pT92AAAAgElEQVRYR83KoREAMBAEoe+/6UsJuJ0IHLftfsJQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDDWGGkONocZQY6gx1BhqDLUHAfKyg6Er2WgAAAAASUVORK5CYII=);background-repeat:no-repeat;background-size:cover;height:100%;min-width:100%;width:100%"></div></div>
		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAABBoAAAVECAYAAAB9L3lsAAAACXBIWXMAABcRAAAXEQHKJvM/AAAgAElEQVR4XuzcsY1aYRBG0VcaJWxJWwoZQqIIl+QO8LqC7wZYGDjB+aMbziRPo3fc7/cDAAAA4BFmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKA6LtfbCXhpX6Hhs5kR3oVZhueyg0By/Dx3AAAAgEfwoQEAAAB4mL8fGubZA/Bfc8bIYkZ4F2YZnssOAsn8iQMAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUB2X6+0beGnn0PDZzqGBV3AODfDvnEMD8H38PL+Al/Y7NHw2M8K7MMvwXHYQSObJAwAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKiOy/V2Al7aV2j4bGaEd2GW4bnsIJAcP88dAAAA4BHmyQMAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqGYAAAAAUM0AAAAAoJoBAAAAQDUDAAAAgGoGAAAAANUMAAAAAKoZAAAAAFQzAAAAAKhmAAAAAFDNAAAAAKCaAQAAAEA1AwAAAIBqBgAAAADVDAAAAACqGQAAAABUMwAAAACoZgAAAABQzQAAAACgmgEAAABANQMAAACAagYAAAAA1QwAAAAAqhkAAAAAVDMAAAAAqG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			<div style="width:10080px;height:12901px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">





























































			<div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:0px;white-space:nowrap">Name, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:521.8px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:904.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:1099.84px;white-space:nowrap">Birth </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:322.97px;white-space:nowrap">Address</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:2316px;white-space:nowrap">Position</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:3632px;white-space:nowrap">Length </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:4209.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:3632px;letter-spacing:-0.58px;white-space:nowrap">Time </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:4047px;white-space:nowrap">Served</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:5348px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:5996.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:6192.45px;white-space:nowrap">Portfolios </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:6983.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:5348px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:5783.39px;white-space:nowrap">Complex </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:6503.55px;white-space:nowrap">Overseen </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:5348px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:5579.17px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:6085.89px;white-space:nowrap">Member*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:7514px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:7985.17px;white-space:nowrap">Directorships </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:9061.03px;white-space:nowrap">Held </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:7514px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:8073.92px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:8260.64px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:8723.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:9007.52px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:9389.94px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:9520.48px;letter-spacing:-1.77px;white-space:nowrap">Years</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:0px;white-space:nowrap">Steven </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:569.14px;white-space:nowrap">J. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:747.03px;white-space:nowrap">Gray </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:1156.17px;white-space:nowrap">(1955)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:2316px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:2668.81px;white-space:nowrap">President</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:4076.69px;white-space:nowrap">2009</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:5348px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:5632.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:7514px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:7798.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1227.27px;left:0px;white-space:nowrap">One </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1227.27px;left:346.88px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1227.27px;left:960.39px;white-space:nowrap">Parkway</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:0px;white-space:nowrap">San </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:329.14px;white-space:nowrap">Mateo, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:862.73px;letter-spacing:-2.94px;white-space:nowrap">CA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:1120.63px;white-space:nowrap">94403-1906</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1715.76px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1715.76px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1715.76px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1715.76px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1715.76px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1715.76px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1715.76px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1715.76px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1715.76px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:0px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:498.13px;white-space:nowrap">Associate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:1236.25px;white-space:nowrap">General </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:1849.92px;white-space:nowrap">Counsel, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:2525.86px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:3136.48px;letter-spacing:-1.61px;white-space:nowrap">Templeton; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:3963.59px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:4316.41px;white-space:nowrap">President, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:5081.25px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:5691.88px;letter-spacing:-1.77px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:6474.53px;white-space:nowrap">Distributors, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:7372.5px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:7674.84px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:7986.25px;letter-spacing:-1.47px;white-space:nowrap">FASA, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:8484.22px;white-space:nowrap">LLC; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:8866.64px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:9178.05px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:9658.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1922.24px;left:9836.09px;white-space:nowrap">41 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:177.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:444.77px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:1262.89px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:2081.09px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:2250.08px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:2860.7px;letter-spacing:-1.77px;white-space:nowrap">Templeton.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2585.72px;left:0px;white-space:nowrap">Michael </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2585.72px;left:631.33px;white-space:nowrap">Hasenstab </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2585.72px;left:1485px;white-space:nowrap">Ph.D. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2777.72px;left:0px;white-space:nowrap">(1973)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2585.72px;left:2316px;white-space:nowrap">President </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2585.72px;left:3036.39px;white-space:nowrap">and</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2777.72px;left:2316px;white-space:nowrap">Chief </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2777.72px;left:2733.97px;white-space:nowrap">Executive</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2969.72px;left:2316px;text-rendering:optimizeLegibility;white-space:nowrap">Officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2969.72px;left:2831.63px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3161.72px;left:2316px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3353.72px;left:2316px;white-space:nowrap">Management</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2585.72px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2585.72px;left:4076.69px;white-space:nowrap">2018</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2585.72px;left:5348px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2585.72px;left:5632.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2585.72px;left:7514px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2585.72px;left:7798.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2984.21px;left:0px;white-space:nowrap">One </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2984.21px;left:346.88px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2984.21px;left:960.39px;white-space:nowrap">Parkway</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3176.21px;left:0px;white-space:nowrap">San </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3176.21px;left:329.14px;white-space:nowrap">Mateo, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3176.21px;left:862.73px;letter-spacing:-2.94px;white-space:nowrap">CA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3176.21px;left:1120.63px;white-space:nowrap">94403-1906</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3560.21px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3560.21px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3560.21px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3560.21px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3560.21px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3560.21px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3560.21px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3560.21px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3560.21px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:0px;white-space:nowrap">Executive </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:738.13px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:1090.94px;white-space:nowrap">President, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:1855.78px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:2460.47px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:3162.89px;white-space:nowrap">Inc.; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:3509.69px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:3821.09px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:4301.25px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:4479.14px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:4914.84px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:5092.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:5359.61px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:5768.75px;white-space:nowrap">subsidiaries </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:6658.05px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:6835.94px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:7449.45px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:8303.13px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:8605.47px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:8916.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:9094.77px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:9503.91px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3766.69px;left:9681.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.69px;left:0px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.69px;left:818.13px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.69px;left:1636.33px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.69px;left:1805.31px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3958.69px;left:2415.94px;letter-spacing:-1.77px;white-space:nowrap">Templeton.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4430.18px;left:0px;white-space:nowrap">Matthew </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4430.18px;left:684.45px;letter-spacing:-5.91px;white-space:nowrap">T. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4430.18px;left:853.36px;white-space:nowrap">Hinkle </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:4430.18px;left:1377.97px;white-space:nowrap">(1971)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4430.18px;left:2316px;white-space:nowrap">Chief </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4430.18px;left:2733.97px;white-space:nowrap">Executive</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4622.18px;left:2316px;text-rendering:optimizeLegibility;white-space:nowrap">Officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4622.18px;left:2831.63px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.18px;left:2316px;white-space:nowrap">Finance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4814.18px;left:2929.67px;white-space:nowrap">and</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5006.18px;left:2316px;white-space:nowrap">Administration</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4430.18px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4430.18px;left:4076.69px;white-space:nowrap">2017</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4430.18px;left:5348px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4430.18px;left:5632.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4430.18px;left:7514px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4430.18px;left:7798.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4636.66px;left:0px;white-space:nowrap">One </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4636.66px;left:346.88px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4636.66px;left:960.39px;white-space:nowrap">Parkway</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4828.66px;left:0px;white-space:nowrap">San </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4828.66px;left:329.14px;white-space:nowrap">Mateo, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4828.66px;left:862.73px;letter-spacing:-2.94px;white-space:nowrap">CA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:4828.66px;left:1120.63px;white-space:nowrap">94403-1906</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5212.66px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5212.66px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5212.66px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5212.66px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5212.66px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5212.66px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5212.66px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5212.66px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5212.66px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:0px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:506.95px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:859.77px;white-space:nowrap">President, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:1624.61px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:2235.23px;letter-spacing:-1.77px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:3017.89px;white-space:nowrap">Services, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:3720.31px;white-space:nowrap">LLC; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:4102.73px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:4582.89px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:4760.78px;white-space:nowrap">41 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:4983.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:5161.09px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:5427.97px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:6246.09px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:7064.3px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:7233.28px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:7843.91px;letter-spacing:-1.61px;white-space:nowrap">Templeton; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:8671.02px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:5419.15px;left:8982.42px;white-space:nowrap">formerly</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:9622.66px;white-space:nowrap">, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5419.15px;left:9711.56px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5611.15px;left:0px;white-space:nowrap">President, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5611.15px;left:764.84px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5611.15px;left:1268.91px;letter-spacing:-4.43px;white-space:nowrap">Tax </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5611.15px;left:1562.34px;white-space:nowrap">(2012-April </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5611.15px;left:2389.38px;white-space:nowrap">2017) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5611.15px;left:2843.05px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5611.15px;left:3151.56px;letter-spacing:-0.3px;white-space:nowrap">Treasurer/Assistant </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5611.15px;left:4574.3px;letter-spacing:-1.34px;white-space:nowrap">Treasurer, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5611.15px;left:5341.95px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5611.15px;left:5952.58px;letter-spacing:-1.77px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:5611.15px;left:6735.23px;white-space:nowrap">(2009-2017).</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6082.63px;left:0px;white-space:nowrap">Robert </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6082.63px;left:560px;white-space:nowrap">G. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6082.63px;left:773.36px;white-space:nowrap">Kubilis </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:6082.63px;left:1351.17px;white-space:nowrap">(1973)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6082.63px;left:2316px;white-space:nowrap">Chief </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6082.63px;left:2733.97px;white-space:nowrap">Financial</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.63px;left:2316px;text-rendering:optimizeLegibility;letter-spacing:-0.98px;white-space:nowrap">Officer, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6274.63px;left:2867.25px;white-space:nowrap">Chief</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6466.63px;left:2316px;white-space:nowrap">Accounting</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6658.63px;left:2316px;text-rendering:optimizeLegibility;white-space:nowrap">Officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6658.63px;left:2831.63px;white-space:nowrap">and</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6850.63px;left:2316px;letter-spacing:-0.66px;white-space:nowrap">Treasurer</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6082.63px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6082.63px;left:4076.69px;white-space:nowrap">2017</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6082.63px;left:5348px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6082.63px;left:5632.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6082.63px;left:7514px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6082.63px;left:7798.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6289.12px;left:0px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6289.12px;left:311.41px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6289.12px;left:658.2px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6289.12px;left:969.61px;white-space:nowrap">Street</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6481.12px;left:0px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6481.12px;left:328.91px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6481.12px;left:1218.52px;letter-spacing:-1.98px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6481.12px;left:1443.75px;white-space:nowrap">33301-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:6673.12px;left:0px;white-space:nowrap">1923</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7057.12px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7057.12px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7057.12px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7057.12px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7057.12px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7057.12px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7057.12px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7057.12px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7057.12px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:0px;letter-spacing:-1.34px;white-space:nowrap">Treasurer, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:767.66px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:1123.28px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:1523.59px;white-space:nowrap">Administration </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:2581.8px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:2732.97px;white-space:nowrap">Reporting </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:3471.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:3782.58px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:4262.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:4440.63px;white-space:nowrap">39 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:4663.05px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:4840.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:5107.81px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:5925.94px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:6744.14px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:6913.13px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7263.6px;left:7523.75px;letter-spacing:-1.77px;white-space:nowrap">Templeton.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7735.08px;left:0px;white-space:nowrap">Robert </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7735.08px;left:560px;white-space:nowrap">Lim </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:7735.08px;left:888.91px;white-space:nowrap">(1948)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7735.08px;left:2316px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7735.08px;left:2668.81px;white-space:nowrap">President </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7735.08px;left:3389.2px;white-space:nowrap">&#8211;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7927.08px;left:2316px;letter-spacing:-1.48px;white-space:nowrap">AML </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7927.08px;left:2683.5px;white-space:nowrap">Compliance</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7735.08px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7735.08px;left:4076.69px;white-space:nowrap">2016</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7735.08px;left:5348px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7735.08px;left:5632.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7735.08px;left:7514px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7735.08px;left:7798.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7941.57px;left:0px;white-space:nowrap">One </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7941.57px;left:346.88px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:7941.57px;left:960.39px;white-space:nowrap">Parkway</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8133.57px;left:0px;white-space:nowrap">San </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8133.57px;left:329.14px;white-space:nowrap">Mateo, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8133.57px;left:862.73px;letter-spacing:-2.94px;white-space:nowrap">CA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8133.57px;left:1120.63px;white-space:nowrap">94403-1906</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8430.05px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8430.05px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8430.05px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8430.05px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8430.05px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8430.05px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8430.05px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8430.05px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:8430.05px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:0px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:352.81px;white-space:nowrap">President, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:1117.66px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:1728.28px;letter-spacing:-1.77px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:2510.94px;white-space:nowrap">Companies, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:3409.14px;white-space:nowrap">LLC; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:3791.56px;white-space:nowrap">Chief </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:4209.53px;white-space:nowrap">Compliance </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:5098.83px;text-rendering:optimizeLegibility;letter-spacing:-0.98px;white-space:nowrap">Officer, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:5650.08px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:6260.7px;letter-spacing:-1.77px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:7043.36px;white-space:nowrap">Distributors, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:7941.33px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:8243.67px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:8555.08px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8636.54px;left:9165.7px;letter-spacing:-1.77px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:0px;white-space:nowrap">Investor </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:613.59px;white-space:nowrap">Services, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:1316.02px;white-space:nowrap">LLC; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:1698.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:2009.84px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:2490px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:2667.89px;white-space:nowrap">41 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:2890.31px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:3068.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:3335.08px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:4153.2px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:4971.41px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:5140.39px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:8828.54px;left:5751.02px;letter-spacing:-1.77px;white-space:nowrap">Templeton.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9300.02px;left:0px;white-space:nowrap">Navid </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9300.02px;left:480.16px;white-space:nowrap">J. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9300.02px;left:658.05px;text-rendering:optimizeLegibility;letter-spacing:-1.08px;white-space:nowrap">Tofigh </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9300.02px;left:1179.3px;white-space:nowrap">(1972)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9300.02px;left:2316px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9300.02px;left:2668.81px;white-space:nowrap">President</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9300.02px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9300.02px;left:4076.69px;white-space:nowrap">2015</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9300.02px;left:5348px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9300.02px;left:5632.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9300.02px;left:7514px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9300.02px;left:7798.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9506.51px;left:0px;white-space:nowrap">One </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9506.51px;left:346.88px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9506.51px;left:960.39px;white-space:nowrap">Parkway</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9698.51px;left:0px;white-space:nowrap">San </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9698.51px;left:329.14px;white-space:nowrap">Mateo, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9698.51px;left:862.73px;letter-spacing:-2.94px;white-space:nowrap">CA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:9698.51px;left:1120.63px;white-space:nowrap">94403-1906</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9994.99px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9994.99px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9994.99px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9994.99px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9994.99px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9994.99px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9994.99px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9994.99px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:9994.99px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:0px;white-space:nowrap">Associate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:738.13px;white-space:nowrap">General </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:1351.8px;white-space:nowrap">Counsel </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:1983.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:2294.69px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:2774.84px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:2952.73px;white-space:nowrap">41 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:3175.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:3353.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:3619.92px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:4438.05px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:5256.25px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:5425.23px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10201.47px;left:6035.86px;letter-spacing:-1.77px;white-space:nowrap">Templeton.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10672.96px;left:0px;white-space:nowrap">Craig </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10672.96px;left:453.44px;white-space:nowrap">S. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10672.96px;left:649.06px;letter-spacing:-1.32px;white-space:nowrap">Tyle </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10672.96px;left:1001.8px;white-space:nowrap">(1960)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10672.96px;left:2316px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10672.96px;left:2668.81px;white-space:nowrap">President</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10672.96px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10672.96px;left:4076.69px;white-space:nowrap">2005</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10672.96px;left:5348px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10672.96px;left:5632.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10672.96px;left:7514px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10672.96px;left:7798.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10879.44px;left:0px;white-space:nowrap">One </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10879.44px;left:346.88px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:10879.44px;left:960.39px;white-space:nowrap">Parkway</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11071.44px;left:0px;white-space:nowrap">San </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11071.44px;left:329.14px;white-space:nowrap">Mateo, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11071.44px;left:862.73px;letter-spacing:-2.94px;white-space:nowrap">CA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11071.44px;left:1120.63px;white-space:nowrap">94403-1906</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11367.93px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11367.93px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11367.93px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11367.93px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11367.93px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11367.93px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11367.93px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11367.93px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:11367.93px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:0px;white-space:nowrap">General </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:613.67px;white-space:nowrap">Counsel </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:1245.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:1556.56px;white-space:nowrap">Executive </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:2294.69px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:2647.5px;white-space:nowrap">President, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:3412.34px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:4025.86px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:4879.53px;white-space:nowrap">Inc.; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:5226.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:5537.73px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:6017.89px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:6195.78px;white-space:nowrap">some </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:6631.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:6809.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:7076.25px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:7485.39px;white-space:nowrap">subsidiaries </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:8374.69px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:8552.58px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11574.41px;left:9166.09px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11766.41px;left:0px;white-space:nowrap">Inc. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11766.41px;left:302.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11766.41px;left:613.75px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11766.41px;left:791.64px;white-space:nowrap">41 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11766.41px;left:1014.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11766.41px;left:1191.95px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11766.41px;left:1458.83px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11766.41px;left:2276.95px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11766.41px;left:3095.16px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11766.41px;left:3264.14px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11766.41px;left:3874.77px;letter-spacing:-1.77px;white-space:nowrap">Templeton.</div></div>
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		<div style="height:22px;left:54px;position:absolute;top:81px;width:504px">
			<div style="width:10080px;height:189px;position:absolute;top:4.61px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Interested </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1228.53px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1994.56px;white-space:nowrap">Members </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3150.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3656.38px;text-rendering:optimizeLegibility;white-space:nowrap">Officers </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:53.82px;left:4624.27px;white-space:nowrap">(continued)</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:0px;white-space:nowrap">Annual </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:445px;white-space:nowrap">Report</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:0px;letter-spacing:-0.57px;white-space:nowrap">*We </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:282.03px;white-space:nowrap">base </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:603.05px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:821.95px;white-space:nowrap">number </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:1303.28px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:1449.22px;white-space:nowrap">portfolios </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:2018.13px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:2200.55px;white-space:nowrap">each </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:2521.56px;white-space:nowrap">separate </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:3068.67px;white-space:nowrap">series </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:3455.16px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:3601.09px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:3820px;white-space:nowrap">U.S. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:4111.64px;white-space:nowrap">registered </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:4731.56px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:5402.58px;white-space:nowrap">companies </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:6073.59px;white-space:nowrap">within </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:6445.47px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:6664.38px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:7165.23px;letter-spacing:-1.45px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:7807.11px;white-space:nowrap">fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:8098.98px;white-space:nowrap">complex. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:8658.28px;white-space:nowrap">These </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:9059.45px;white-space:nowrap">portfolios </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:9628.36px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4165.76px;left:9949.38px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4357.76px;left:0px;white-space:nowrap">common </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4357.76px;left:539.61px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4357.76px;left:1210.63px;white-space:nowrap">manager </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4357.76px;left:1764.92px;white-space:nowrap">or </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4357.76px;left:1918.05px;text-rendering:optimizeLegibility;white-space:nowrap">affiliated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4357.76px;left:2443.28px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4357.76px;left:3114.3px;white-space:nowrap">managers.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:0px;white-space:nowrap">**Gregory </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:612.5px;white-space:nowrap">E. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:772.97px;white-space:nowrap">Johnson </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:1305.55px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:1436.8px;white-space:nowrap">considered </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:2115.16px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:2261.09px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:2443.52px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:2625.94px;white-space:nowrap">interested </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:3238.67px;white-space:nowrap">person </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:3676.33px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:3822.27px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:4041.17px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:4376.72px;white-space:nowrap">under </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:4748.75px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:4967.66px;white-space:nowrap">federal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:5405.31px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:5996.02px;white-space:nowrap">laws </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:6294.92px;white-space:nowrap">due </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:6550.31px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:6696.25px;white-space:nowrap">his </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:6900.47px;white-space:nowrap">position </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:7389.22px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:7564.3px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:7746.72px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:8140.55px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:8395.94px;white-space:nowrap">director </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:8869.92px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4549.76px;left:9015.86px;white-space:nowrap">Franklin </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:0px;white-space:nowrap">Resources, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:700.08px;white-space:nowrap">Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:948.13px;white-space:nowrap">(Resources), </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:1735.55px;white-space:nowrap">which </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:2107.42px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:2238.67px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:2457.58px;white-space:nowrap">parent </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:2866.09px;white-space:nowrap">company </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:3435px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:3580.94px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:3799.84px;letter-spacing:-0.32px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:4227.89px;white-space:nowrap">investment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:4898.91px;letter-spacing:-0.8px;white-space:nowrap">manager. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:5482.5px;white-space:nowrap">Rupert </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:5912.73px;white-space:nowrap">H. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:6080.39px;white-space:nowrap">Johnson, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:6649.45px;letter-spacing:-1.8px;white-space:nowrap">Jr. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:6824.53px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:6955.78px;white-space:nowrap">considered </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:7634.14px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:7780.08px;white-space:nowrap">be </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:7962.5px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:8144.92px;white-space:nowrap">interested </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:8757.66px;white-space:nowrap">person </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:9195.31px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:9341.25px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4741.76px;left:9560.16px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:0px;white-space:nowrap">under </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:372.03px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:590.94px;white-space:nowrap">federal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:1028.59px;white-space:nowrap">securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:1619.3px;white-space:nowrap">laws </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:1918.2px;white-space:nowrap">due </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:2173.59px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:2319.53px;white-space:nowrap">his </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:2523.75px;white-space:nowrap">position </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:3012.5px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:3187.58px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:3370px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:3763.83px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:4019.22px;white-space:nowrap">director </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:4493.2px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:4748.59px;white-space:nowrap">major </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:5113.13px;white-space:nowrap">shareholder </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:5842.5px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:4933.76px;left:5988.44px;white-space:nowrap">Resources.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:0px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:313.59px;white-space:nowrap">1: </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:459.53px;white-space:nowrap">Rupert </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:889.77px;white-space:nowrap">H. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:1057.42px;white-space:nowrap">Johnson, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:1626.48px;letter-spacing:-1.8px;white-space:nowrap">Jr. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:1801.56px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:1932.81px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:2151.72px;white-space:nowrap">uncle </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:2501.88px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:2647.81px;white-space:nowrap">Gregory </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:3158.28px;white-space:nowrap">E. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5125.76px;left:3318.75px;white-space:nowrap">Johnson.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:0px;white-space:nowrap">Note </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:313.59px;white-space:nowrap">2: </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:459.53px;text-rendering:optimizeLegibility;white-space:nowrap">Officer </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:882.5px;white-space:nowrap">information </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:1568.05px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:1699.3px;white-space:nowrap">current </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:2144.14px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:2319.22px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:2465.16px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:2684.06px;white-space:nowrap">date </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:2975.94px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:3121.88px;white-space:nowrap">this </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:3362.58px;white-space:nowrap">report. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:3778.28px;white-space:nowrap">It </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:3887.73px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:4018.98px;white-space:nowrap">possible </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:4536.88px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:4792.27px;white-space:nowrap">after </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:5091.33px;white-space:nowrap">this </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:5332.03px;white-space:nowrap">date, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:5660.39px;white-space:nowrap">information </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:6345.94px;white-space:nowrap">about </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:6710.78px;text-rendering:optimizeLegibility;white-space:nowrap">officers </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:7170.23px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:5317.76px;left:7454.61px;white-space:nowrap">change.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:269.77px;white-space:nowrap">Sarbanes-Oxley </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:1293.36px;white-space:nowrap">Act </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:1541.17px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:1701.48px;white-space:nowrap">2002 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:2029.84px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:2299.61px;white-space:nowrap">Rules </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:2693.36px;white-space:nowrap">adopted </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:3240.08px;white-space:nowrap">by </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:3429.69px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:3662.97px;white-space:nowrap">U.S. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:3954.61px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:4618.28px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:4888.05px;white-space:nowrap">Exchange </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:5544.38px;white-space:nowrap">Commission </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:6368.2px;white-space:nowrap">require </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:6849.45px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:7082.73px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:7439.84px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:7600.16px;white-space:nowrap">disclose </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:8161.8px;white-space:nowrap">whether </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:8701.33px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:8934.61px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5599.76px;left:9391.64px;white-space:nowrap">Audit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:0px;white-space:nowrap">Committee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:714.38px;white-space:nowrap">includes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:1283.2px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:1436.33px;white-space:nowrap">least </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:1771.88px;white-space:nowrap">one </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:2041.64px;white-space:nowrap">member </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:2588.52px;white-space:nowrap">who </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:2887.42px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:3033.36px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:3222.97px;white-space:nowrap">audit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:3572.89px;white-space:nowrap">committee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:4265.55px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:4834.38px;white-space:nowrap">expert </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:5264.61px;white-space:nowrap">within </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:5680.16px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:5913.44px;white-space:nowrap">meaning </div><div style="font-family:Arial, Helvetica, 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sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:8205.31px;letter-spacing:-0.68px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:8667.11px;white-space:nowrap">Board </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:9082.58px;white-space:nowrap">has </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5791.76px;left:9345.16px;white-space:nowrap">determined </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:0px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:276.95px;white-space:nowrap">there </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:634.22px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:780.16px;white-space:nowrap">at </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:933.28px;white-space:nowrap">least </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:1268.83px;white-space:nowrap">one </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:1538.59px;white-space:nowrap">such </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:1881.33px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:2450.16px;white-space:nowrap">expert </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:2880.39px;white-space:nowrap">on </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:3077.19px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:3305.7px;white-space:nowrap">Audit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:3677.34px;white-space:nowrap">Committee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:4391.72px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:4661.48px;white-space:nowrap">has </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:4924.06px;white-space:nowrap">designated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:5653.2px;white-space:nowrap">each </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:5988.75px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:6144.3px;white-space:nowrap">Ann </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:6435.78px;letter-spacing:-1.6px;white-space:nowrap">Torre </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:6797.97px;white-space:nowrap">Bates </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:7191.72px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:7461.48px;white-space:nowrap">David </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:7855.23px;letter-spacing:-2.4px;white-space:nowrap">W. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:8044.84px;white-space:nowrap">Niemiec </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:8584.53px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:8766.95px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:8956.56px;white-space:nowrap">audit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:5983.76px;left:9306.48px;white-space:nowrap">committee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:568.83px;white-space:nowrap">expert. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:1035.55px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:1305.31px;white-space:nowrap">Board </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:1720.78px;white-space:nowrap">believes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:2275.23px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:2552.19px;white-space:nowrap">Ms. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:2807.42px;white-space:nowrap">Bates </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:3201.17px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:3470.94px;letter-spacing:-1.8px;white-space:nowrap">Mr. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:3697.03px;white-space:nowrap">Niemiec </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:4236.72px;white-space:nowrap">qualify </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:4696.09px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:4878.52px;white-space:nowrap">such </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:5221.25px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:5410.86px;white-space:nowrap">expert </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:5841.09px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:5994.22px;white-space:nowrap">view </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:6315.23px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:6475.55px;white-space:nowrap">their </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:6796.33px;white-space:nowrap">extensive </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:7430.94px;white-space:nowrap">business </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:8036.25px;white-space:nowrap">background </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:8823.59px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:9093.36px;white-space:nowrap">experience. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6175.76px;left:9851.95px;white-space:nowrap">Ms. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:0px;white-space:nowrap">Bates </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:393.75px;white-space:nowrap">has </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:656.33px;white-space:nowrap">served </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:1115.86px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:1298.28px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:1407.73px;white-space:nowrap">member </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:1954.61px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:2114.92px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:2348.2px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:2700.55px;white-space:nowrap">Audit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:3072.19px;white-space:nowrap">Committee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:3786.56px;white-space:nowrap">since </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:4158.59px;white-space:nowrap">2008. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:4523.44px;white-space:nowrap">She </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:4800.55px;white-space:nowrap">currently </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:5398.44px;white-space:nowrap">serves </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:5850.78px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:6033.2px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:6142.66px;white-space:nowrap">director </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:6667.58px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:6823.13px;white-space:nowrap">Ares </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:7151.25px;white-space:nowrap">Capital </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:7625.16px;white-space:nowrap">Corporation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:8412.27px;white-space:nowrap">(2010-present) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:9345.55px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6367.76px;left:9615.31px;white-space:nowrap">United </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:0px;white-space:nowrap">Natural </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:488.44px;white-space:nowrap">Foods, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:955px;white-space:nowrap">Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:1217.58px;white-space:nowrap">(2013-present) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:2150.86px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:2420.63px;white-space:nowrap">was </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:2705.16px;white-space:nowrap">formerly </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:3266.56px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:3376.02px;white-space:nowrap">director </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:3900.94px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:4061.25px;white-space:nowrap">Navient </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:4571.64px;white-space:nowrap">Corporation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:5358.75px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:5686.72px;white-space:nowrap">2014 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:6015.08px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:6175.39px;white-space:nowrap">2016, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:6540.23px;white-space:nowrap">SLM </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:6853.67px;white-space:nowrap">Corporation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:7640.78px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:7968.75px;white-space:nowrap">1997 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:8297.11px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:8457.42px;white-space:nowrap">2014 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:8785.78px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:9050.78px;white-space:nowrap">Allied </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6559.76px;left:9444.53px;white-space:nowrap">Capital </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:0px;white-space:nowrap">Corporation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:787.11px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:1115.08px;white-space:nowrap">2003 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:1443.44px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:1603.75px;white-space:nowrap">2010, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:1968.59px;white-space:nowrap">Executive </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:2617.73px;letter-spacing:-0.45px;white-space:nowrap">Vice </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:2921.88px;white-space:nowrap">President </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:3556.25px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:3826.02px;white-space:nowrap">Chief </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:4190.47px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:4795.78px;text-rendering:optimizeLegibility;white-space:nowrap">Officer </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:5255.16px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:5415.47px;letter-spacing:-0.57px;white-space:nowrap">NHP </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:5726.56px;white-space:nowrap">Incorporated </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:6564.92px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:6892.89px;white-space:nowrap">1995 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:7221.25px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:7381.56px;white-space:nowrap">1997 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:7709.92px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:7979.69px;letter-spacing:-0.45px;white-space:nowrap">Vice </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:8283.83px;white-space:nowrap">President </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:8918.2px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:9187.97px;letter-spacing:-0.72px;white-space:nowrap">Treasurer </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6751.76px;left:9822.5px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:0px;white-space:nowrap">US </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:213.91px;white-space:nowrap">Airways, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:790.08px;white-space:nowrap">Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:1052.66px;white-space:nowrap">until </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:1366.09px;white-space:nowrap">1995. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:1730.94px;letter-spacing:-1.8px;white-space:nowrap">Mr. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:1957.03px;white-space:nowrap">Niemiec </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:2496.72px;white-space:nowrap">has </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:2759.3px;white-space:nowrap">served </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:3218.83px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:3401.25px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:3510.7px;white-space:nowrap">member </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:4057.58px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:4217.89px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:4451.17px;white-space:nowrap">Fund </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:4803.52px;white-space:nowrap">Audit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:5175.16px;white-space:nowrap">Committee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:5889.53px;white-space:nowrap">since </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:6261.56px;white-space:nowrap">2005, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:6626.41px;white-space:nowrap">currently </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:7224.3px;white-space:nowrap">serves </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:7676.64px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:7859.06px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:8043.91px;white-space:nowrap">Advisor </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:8568.83px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:8729.14px;white-space:nowrap">Saratoga </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:6943.76px;left:9327.03px;white-space:nowrap">Partners </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:269.77px;white-space:nowrap">was </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:554.3px;white-space:nowrap">formerly </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:1115.7px;white-space:nowrap">its </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:1305.31px;white-space:nowrap">Managing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:1954.14px;white-space:nowrap">Director </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:2493.59px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:2821.56px;white-space:nowrap">1998 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:3149.92px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:3310.23px;white-space:nowrap">2001 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:3638.59px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:3908.36px;white-space:nowrap">serves </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:4360.7px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:4543.13px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:4652.58px;white-space:nowrap">director </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:5177.5px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:5337.81px;white-space:nowrap">Hess </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:5687.89px;white-space:nowrap">Midstream </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:6380.55px;letter-spacing:-0.76px;white-space:nowrap">LP </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:6582.42px;white-space:nowrap">(2017-present). </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:7552.19px;letter-spacing:-1.8px;white-space:nowrap">Mr. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:7778.28px;white-space:nowrap">Niemiec </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:8317.97px;white-space:nowrap">was </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:8602.5px;white-space:nowrap">formerly </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:9163.91px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:9273.36px;white-space:nowrap">director </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7135.76px;left:9798.28px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:0px;white-space:nowrap">Emeritus </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:597.89px;white-space:nowrap">Corporation </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:1385px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:1712.97px;white-space:nowrap">1999 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:2041.33px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:2201.64px;white-space:nowrap">2010 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:2530px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:2799.77px;white-space:nowrap">OSI </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:3062.34px;white-space:nowrap">Pharmaceuticals, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:4178.2px;white-space:nowrap">Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:4440.78px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:4768.75px;white-space:nowrap">2006 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:5097.11px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:5257.42px;white-space:nowrap">2010, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:5622.27px;white-space:nowrap">Managing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:6271.09px;white-space:nowrap">Director </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:6810.55px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:6970.86px;white-space:nowrap">SBC </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:7284.22px;letter-spacing:-0.6px;white-space:nowrap">Warburg </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:7855.23px;white-space:nowrap">Dillon </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:8256.17px;white-space:nowrap">Read </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:8613.44px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:8941.41px;white-space:nowrap">1997 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:9269.77px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:9430.08px;white-space:nowrap">1998, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7327.76px;left:9794.92px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:0px;white-space:nowrap">was </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:284.53px;letter-spacing:-0.45px;white-space:nowrap">Vice </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:588.67px;white-space:nowrap">Chairman </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:1230.23px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:1558.2px;white-space:nowrap">1991 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:1886.56px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:2046.88px;white-space:nowrap">1997 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:2375.23px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:2645px;white-space:nowrap">Chief </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:3009.45px;white-space:nowrap">Financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:3614.77px;text-rendering:optimizeLegibility;white-space:nowrap">Officer </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:4074.14px;white-space:nowrap">from </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:4402.11px;white-space:nowrap">1982 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:4730.47px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:4890.78px;white-space:nowrap">1997 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:5219.14px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:5379.45px;white-space:nowrap">Dillon, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:5816.88px;white-space:nowrap">Read </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:6174.14px;white-space:nowrap">&amp; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:6305.31px;white-space:nowrap">Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:6553.13px;white-space:nowrap">Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:6810.94px;white-space:nowrap">As </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:7015.08px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:7124.53px;white-space:nowrap">result </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:7518.28px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:7678.59px;white-space:nowrap">such </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:8021.33px;white-space:nowrap">background </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:8808.67px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:9078.44px;white-space:nowrap">experience, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7519.76px;left:9837.03px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:0px;white-space:nowrap">Board </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:415.47px;white-space:nowrap">believes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:969.92px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:1246.88px;white-space:nowrap">Ms. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:1502.11px;white-space:nowrap">Bates </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:1895.86px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:2165.63px;letter-spacing:-1.8px;white-space:nowrap">Mr. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:2391.72px;white-space:nowrap">Niemiec </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:2931.41px;white-space:nowrap">have </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:3266.95px;white-space:nowrap">each </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:3602.5px;white-space:nowrap">acquired </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:4185.86px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:4375.47px;white-space:nowrap">understanding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:5323.13px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:5483.44px;white-space:nowrap">generally </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:6096.09px;white-space:nowrap">accepted </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:6701.41px;white-space:nowrap">accounting </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:7437.73px;white-space:nowrap">principles </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:8094.06px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:8363.83px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:8932.66px;white-space:nowrap">statements, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7711.76px;left:9698.28px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:0px;white-space:nowrap">general </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:503.2px;white-space:nowrap">application </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:1232.34px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:1392.66px;white-space:nowrap">such </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:1735.39px;white-space:nowrap">principles </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:2391.72px;white-space:nowrap">in </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:2544.84px;white-space:nowrap">connection </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:3281.17px;white-space:nowrap">with </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:3580.08px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:3813.36px;white-space:nowrap">accounting </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:4549.69px;white-space:nowrap">estimates, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:5227.97px;white-space:nowrap">accruals </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:5796.95px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:6066.72px;white-space:nowrap">reserves, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:6679.53px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:6949.3px;white-space:nowrap">analyzing </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:7583.75px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:7853.52px;white-space:nowrap">evaluating </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:8538.98px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:9107.81px;white-space:nowrap">statements </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:7903.76px;left:9836.95px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:0px;white-space:nowrap">present </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:510.39px;white-space:nowrap">a </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:619.84px;white-space:nowrap">breadth </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:1137.42px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:1407.19px;white-space:nowrap">level </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:1735.55px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:1895.86px;white-space:nowrap">complexity </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:2617.81px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:2778.13px;white-space:nowrap">accounting </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:3514.45px;white-space:nowrap">issues </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:3959.45px;white-space:nowrap">generally </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:4572.11px;white-space:nowrap">comparable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:5345.08px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:5505.39px;white-space:nowrap">those </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:5891.8px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:6052.11px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:6285.39px;white-space:nowrap">Fund, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:6678.98px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:6861.41px;white-space:nowrap">well </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:7145.94px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:7328.36px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:7517.97px;white-space:nowrap">understanding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:8465.63px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:8625.94px;white-space:nowrap">internal </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:9136.33px;white-space:nowrap">controls </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8095.76px;left:9690.39px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:0px;white-space:nowrap">procedures </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:751.02px;white-space:nowrap">for </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:962.34px;text-rendering:optimizeLegibility;white-space:nowrap">financial </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:1531.17px;white-space:nowrap">reporting </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:2143.44px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:2413.2px;white-space:nowrap">an </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:2602.81px;white-space:nowrap">understanding </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:3550.47px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:3710.78px;white-space:nowrap">audit </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:4060.7px;white-space:nowrap">committee </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:4753.36px;white-space:nowrap">functions. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:5416.72px;white-space:nowrap">Ms. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:5671.95px;white-space:nowrap">Bates </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:6065.7px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:6335.47px;letter-spacing:-1.8px;white-space:nowrap">Mr. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:6561.56px;white-space:nowrap">Niemiec </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:7101.25px;white-space:nowrap">are </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:7334.69px;white-space:nowrap">independent </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:8151.17px;white-space:nowrap">Board </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:8566.64px;white-space:nowrap">members </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:9186.48px;white-space:nowrap">as </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:9368.91px;white-space:nowrap">that </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:9645.86px;white-space:nowrap">term </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8287.76px;left:9966.64px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8479.76px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">defined </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8479.76px;left:503.05px;white-space:nowrap">under </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8479.76px;left:903.98px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8479.76px;left:1137.27px;white-space:nowrap">applicable </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8479.76px;left:1815.55px;white-space:nowrap">U.S. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8479.76px;left:2107.19px;white-space:nowrap">Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8479.76px;left:2770.86px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8479.76px;left:3040.63px;white-space:nowrap">Exchange </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8479.76px;left:3696.95px;white-space:nowrap">Commission </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8479.76px;left:4520.78px;white-space:nowrap">Rules </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8479.76px;left:4914.53px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8479.76px;left:5184.3px;white-space:nowrap">Releases</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:269.77px;white-space:nowrap">Statement </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:940.47px;white-space:nowrap">of </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:1096.02px;white-space:nowrap">Additional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:1773.91px;white-space:nowrap">Information </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:2531.95px;white-space:nowrap">(SAI) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:2874.45px;white-space:nowrap">includes </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:3443.28px;white-space:nowrap">additional </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:4099.45px;white-space:nowrap">information </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:4857.5px;white-space:nowrap">about </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:5251.09px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:5484.38px;white-space:nowrap">board </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:5885.31px;white-space:nowrap">members </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:6505.16px;white-space:nowrap">and </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:6774.92px;white-space:nowrap">is </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:6920.86px;white-space:nowrap">available, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:7548.28px;white-space:nowrap">without </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:8051.17px;white-space:nowrap">charge, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:8554.38px;white-space:nowrap">upon </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8761.76px;left:8911.48px;white-space:nowrap">request. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8953.76px;left:0px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8953.76px;left:875px;white-space:nowrap">may </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8953.76px;left:1174.06px;white-space:nowrap">call </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8953.76px;left:1429.45px;white-space:nowrap">(800) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8953.76px;left:1772.19px;letter-spacing:-0.45px;white-space:nowrap">DIAL </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8953.76px;left:2112.42px;white-space:nowrap">BEN/342-5236 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8953.76px;left:3016.72px;white-space:nowrap">to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8953.76px;left:3177.03px;white-space:nowrap">request </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8953.76px;left:3687.42px;white-space:nowrap">the </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;font-weight:bold;position:absolute;top:8953.76px;left:3920.7px;white-space:nowrap">SAI.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:0px;white-space:nowrap">Name, </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:521.8px;letter-spacing:-1.77px;white-space:nowrap">Year </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:904.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:1099.84px;white-space:nowrap">Birth </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:322.97px;white-space:nowrap">Address</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:2316px;white-space:nowrap">Position</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:3632px;white-space:nowrap">Length </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:4209.66px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:3632px;letter-spacing:-0.58px;white-space:nowrap">Time </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:4047px;white-space:nowrap">Served</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:5348px;white-space:nowrap">Number </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:5996.98px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:6192.45px;white-space:nowrap">Portfolios </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:340.3px;left:6983.55px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:5348px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:5783.39px;white-space:nowrap">Complex </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:6503.55px;white-space:nowrap">Overseen </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:5348px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:5579.17px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:6085.89px;white-space:nowrap">Member*</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:7514px;white-space:nowrap">Other </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:7985.17px;white-space:nowrap">Directorships </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:532.3px;left:9061.03px;white-space:nowrap">Held </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:7514px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:8073.92px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:8260.64px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:8723.06px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:9007.52px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:9389.94px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:724.3px;left:9520.48px;letter-spacing:-1.77px;white-space:nowrap">Years</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:0px;white-space:nowrap">Lori </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:340.7px;white-space:nowrap">A. </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:545.16px;letter-spacing:-0.48px;white-space:nowrap">Weber </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1020.79px;left:1075.7px;white-space:nowrap">(1964)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:2316px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:2668.81px;white-space:nowrap">President</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:2316px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:2627.41px;white-space:nowrap">Secretary</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:3632px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:3984.81px;white-space:nowrap">President</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:3632px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1212.79px;left:4049.97px;letter-spacing:-2.97px;white-space:nowrap">2011</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1404.79px;left:3632px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1404.79px;left:3943.41px;white-space:nowrap">Secretary </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1404.79px;left:4672.55px;white-space:nowrap">since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1596.79px;left:3632px;white-space:nowrap">2013</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:5348px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:5632.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:7514px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1020.79px;left:7798.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1227.27px;left:0px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1227.27px;left:311.41px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1227.27px;left:658.2px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1227.27px;left:969.61px;white-space:nowrap">Street</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:0px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:328.91px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:1218.52px;letter-spacing:-1.98px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1419.27px;left:1443.75px;white-space:nowrap">33301-</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:1611.27px;left:0px;white-space:nowrap">1923</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1907.76px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1907.76px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1907.76px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1907.76px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1907.76px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1907.76px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1907.76px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1907.76px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:1907.76px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:0px;white-space:nowrap">Senior </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:498.13px;white-space:nowrap">Associate </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:1236.25px;white-space:nowrap">General </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:1849.92px;white-space:nowrap">Counsel, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:2525.86px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:3136.48px;letter-spacing:-1.61px;white-space:nowrap">Templeton; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:3954.77px;white-space:nowrap">Assistant </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:4648.36px;letter-spacing:-1.08px;white-space:nowrap">Secretary, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:5410.08px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:6023.59px;white-space:nowrap">Resources, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:6877.27px;white-space:nowrap">Inc.; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:7224.06px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:7576.88px;white-space:nowrap">President </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:8297.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2114.24px;left:8608.67px;letter-spacing:-1.08px;white-space:nowrap">Secretary, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:0px;letter-spacing:-1.77px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:782.66px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:1609.69px;white-space:nowrap">Counsel, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:2285.63px;white-space:nowrap">LLC; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:2668.05px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:2979.45px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:3459.61px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:3637.5px;white-space:nowrap">41 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:3859.92px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:4037.81px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:4304.69px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:5122.81px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:5941.02px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:6110px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2306.24px;left:6720.63px;letter-spacing:-1.77px;white-space:nowrap">Templeton.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2777.72px;left:0px;white-space:nowrap">Christine </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2777.72px;left:737.89px;white-space:nowrap">Zhu </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:2777.72px;left:1075.55px;white-space:nowrap">(1975)</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2777.72px;left:2316px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2777.72px;left:2668.81px;white-space:nowrap">President</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2777.72px;left:3632px;white-space:nowrap">Since </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2777.72px;left:4076.69px;white-space:nowrap">2018</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2777.72px;left:5348px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2777.72px;left:5632.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2777.72px;left:7514px;white-space:nowrap">Not </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2777.72px;left:7798.61px;white-space:nowrap">Applicable</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2984.21px;left:0px;white-space:nowrap">One </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2984.21px;left:346.88px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:2984.21px;left:960.39px;white-space:nowrap">Parkway</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3176.21px;left:0px;white-space:nowrap">San </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3176.21px;left:329.14px;white-space:nowrap">Mateo, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3176.21px;left:862.73px;letter-spacing:-2.94px;white-space:nowrap">CA </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3176.21px;left:1120.63px;white-space:nowrap">94403-1906</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3472.69px;left:0px;white-space:nowrap">Principal </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3472.69px;left:720.23px;white-space:nowrap">Occupation </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3472.69px;left:1644.77px;white-space:nowrap">During </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3472.69px;left:2204.69px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3472.69px;left:2391.41px;white-space:nowrap">Least </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3472.69px;left:2853.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3472.69px;left:3138.28px;white-space:nowrap">Past </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3472.69px;left:3520.7px;white-space:nowrap">5 </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:3472.69px;left:3651.25px;letter-spacing:-1.47px;white-space:nowrap">Years:</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:0px;letter-spacing:-0.58px;white-space:nowrap">Vice </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:352.81px;white-space:nowrap">President, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:1117.66px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:1722.34px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:2424.77px;white-space:nowrap">Inc.; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:2771.56px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:3082.97px;text-rendering:optimizeLegibility;white-space:nowrap">officer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:3563.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:3741.02px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:4150.16px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:4328.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:4594.92px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:5413.05px;white-space:nowrap">companies </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:6231.25px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:6400.23px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:3679.18px;left:7010.86px;letter-spacing:-1.77px;white-space:nowrap">Templeton.</div></div>
		</div>
		<div style="height:22px;left:36px;position:absolute;top:85px;width:504px">
			<div style="width:10080px;height:189px;position:absolute;top:4.61px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Interested </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1228.53px;white-space:nowrap">Board </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1994.56px;white-space:nowrap">Members </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3150.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3656.38px;text-rendering:optimizeLegibility;white-space:nowrap">Officers </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:53.82px;left:4624.27px;white-space:nowrap">(continued)</div></div>
		</div>


</div></div><div data-page="" style="page-break-after:always;margin:-8px;position:relative;height:774px;width:594px"><div style="position:absolute;top:0px;left:0px;width:594px;height:774px">
		<div style="height:25px;left:54px;position:absolute;top:32px;width:503px">
			<div style="width:10080px;height:421px;position:absolute;top:3.86px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:7437.56px;letter-spacing:10.57px;white-space:nowrap">Templeton </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:8393.66px;letter-spacing:9.6px;white-space:nowrap">Global </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9034.53px;letter-spacing:10.29px;white-space:nowrap">Income </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;text-transform:uppercase;position:absolute;top:-21.41px;left:9679.78px;letter-spacing:9px;white-space:nowrap">Fund</div></div>
		</div>
		<div style="height:40px;left:54px;position:absolute;top:74px;width:503px">
			<div style="width:10080px;height:632px;position:absolute;top:7.44px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:0px;white-space:nowrap">Shareholder </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:300px;position:absolute;top:-48.16px;left:1690.31px;white-space:nowrap">Information</div></div>
		</div>
		<div style="height:17px;left:522px;position:absolute;top:744px;width:35px">
			<div style="width:717px;height:259px;position:absolute;top:1px;left:0px;transform-origin:0% 0%;transform:rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:135px;position:absolute;top:121.31px;left:571.18px;white-space:nowrap">55</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:0px;white-space:nowrap">Proxy </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:736.84px;letter-spacing:-2.05px;white-space:nowrap">Voting </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:1531.94px;white-space:nowrap">Policies </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:2500.09px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:-30.85px;left:3006.12px;white-space:nowrap">Procedures</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:360.18px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:947.2px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:1867.59px;white-space:nowrap">manager </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:2628.02px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:2968.24px;white-space:nowrap">established </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:344.48px;left:3928.89px;white-space:nowrap">Proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:0px;letter-spacing:-1.42px;white-space:nowrap">Voting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:550.46px;white-space:nowrap">Policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:1220.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:1571.04px;white-space:nowrap">Procedures </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:2541.53px;white-space:nowrap">(Policies) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:3331.67px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:3681.91px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:594.48px;left:3982.15px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:0px;white-space:nowrap">uses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:430.22px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:630.35px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:1480.78px;white-space:nowrap">how </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:1861px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:2061.12px;white-space:nowrap">vote </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:2451.36px;white-space:nowrap">proxies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:3081.62px;white-space:nowrap">relating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:3721.99px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:844.48px;left:3922.12px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:0px;white-space:nowrap">securities. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:860.27px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:1980.97px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:2371.03px;white-space:nowrap">view </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:2781.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:3081.36px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1094.48px;left:3668.38px;white-space:nowrap">complete </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:0px;white-space:nowrap">Policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:670.25px;white-space:nowrap">online </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:1200.67px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:1400.8px;white-space:nowrap">franklintempleton.com. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1344.48px;left:3251.69px;letter-spacing:-0.89px;white-space:nowrap">Alternatively, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:0px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:1090.63px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:1480.69px;white-space:nowrap">request </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:2131.08px;white-space:nowrap">copies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:2701.41px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:2901.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:3201.77px;white-space:nowrap">Policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:3872.02px;white-space:nowrap">free </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1594.48px;left:4232.2px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:0px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:600.38px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:840.5px;white-space:nowrap">calling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:1400.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:1701.04px;white-space:nowrap">Proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:2211.15px;white-space:nowrap">Group </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:2761.44px;white-space:nowrap">collect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:3321.65px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:3521.78px;white-space:nowrap">(954) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1844.48px;left:3991.99px;white-space:nowrap">527-</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:0px;white-space:nowrap">7678 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:450.44px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:660.5px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:900.62px;white-space:nowrap">sending </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:1581.15px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:1731.27px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:2311.44px;white-space:nowrap">request </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:2961.83px;white-space:nowrap">to: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:3211.96px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2094.48px;left:3898.92px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:0px;white-space:nowrap">Companies, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:1010.48px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:1440.7px;white-space:nowrap">300 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:1791.04px;white-space:nowrap">S.E. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:2181.18px;white-space:nowrap">2nd </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:2531.51px;white-space:nowrap">Street, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:3111.77px;white-space:nowrap">Fort </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2344.48px;left:3481.79px;white-space:nowrap">Lauderdale, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:0px;letter-spacing:-2.23px;white-space:nowrap">FL </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:253.39px;white-space:nowrap">33301, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:844.01px;white-space:nowrap">Attention: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:1654.54px;white-space:nowrap">Proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:2164.66px;white-space:nowrap">Group. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:2764.95px;white-space:nowrap">Copies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:3375.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:3575.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2594.48px;left:3875.63px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:0px;white-space:nowrap">proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:490.17px;white-space:nowrap">voting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:1020.5px;white-space:nowrap">records </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:1670.71px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:1980.88px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:2361.09px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:2861.37px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:3621.88px;white-space:nowrap">online </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2844.48px;left:4152.3px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:0px;white-space:nowrap">franklintempleton.com </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:1810.81px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:2161.14px;white-space:nowrap">posted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:2751.59px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:3001.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:3302.05px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:3702.13px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3094.48px;left:4542.45px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:0px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:850.61px;letter-spacing:-0.25px;white-space:nowrap">Commission&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:2017.53px;white-space:nowrap">website </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:2677.85px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:2877.98px;white-space:nowrap">sec.gov </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:3548.32px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:3898.65px;text-rendering:optimizeLegibility;white-space:nowrap">reflect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3344.48px;left:4438.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:0px;white-space:nowrap">most </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:440.07px;white-space:nowrap">recent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:990.35px;white-space:nowrap">12-month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:1800.79px;white-space:nowrap">period </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:2351.16px;white-space:nowrap">ended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:2901.71px;white-space:nowrap">June </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3594.48px;left:3342.04px;white-space:nowrap">30.</div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4170.75px;left:0px;white-space:nowrap">Quarterly </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4170.75px;left:1141.44px;white-space:nowrap">Statement </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4170.75px;left:2398.78px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:260px;position:absolute;top:4170.75px;left:2687.85px;white-space:nowrap">Investments</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:360.18px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:820.46px;text-rendering:optimizeLegibility;white-space:nowrap">files </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:1190.57px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:1340.68px;white-space:nowrap">complete </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:2121.06px;white-space:nowrap">statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:2961.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:3161.6px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4546.08px;left:4171.99px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:300.23px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:700.31px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:1540.63px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:1890.97px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:2741.57px;white-space:nowrap">Commission </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:3781.76px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:4041.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4796.08px;left:4342.06px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:350.33px;white-space:nowrap">third </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:750.5px;white-space:nowrap">quarters </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:1460.83px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:1720.9px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:2161.23px;text-rendering:optimizeLegibility;white-space:nowrap">fiscal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:2621.34px;white-space:nowrap">year </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:3021.5px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:3261.62px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:3511.85px;white-space:nowrap">exhibit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:4082.17px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5046.08px;left:4282.29px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:0px;white-space:nowrap">report </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:520.22px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:770.45px;white-space:nowrap">Form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:1240.4px;letter-spacing:-2.9px;white-space:nowrap">N-PORT. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:2007.16px;white-space:nowrap">Shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:3127.85px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:3517.91px;white-space:nowrap">view </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:3928.01px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5296.08px;left:4228.24px;text-rendering:optimizeLegibility;white-space:nowrap">filed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:0px;white-space:nowrap">Form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:469.95px;letter-spacing:-0.93px;white-space:nowrap">N-PORT </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:1203.4px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:1443.52px;white-space:nowrap">visiting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:2043.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:2343.96px;letter-spacing:-0.25px;white-space:nowrap">Commission&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:3510.88px;white-space:nowrap">website </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:4171.2px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5546.08px;left:4371.33px;white-space:nowrap">sec.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:0px;letter-spacing:-2.67px;white-space:nowrap">gov. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:373.62px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:733.8px;text-rendering:optimizeLegibility;white-space:nowrap">filed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:1114.01px;white-space:nowrap">form </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:1524.02px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:1914.08px;white-space:nowrap">also </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:2294.3px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:2544.52px;white-space:nowrap">viewed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:3154.83px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:3505.17px;white-space:nowrap">copied </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:4085.6px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5796.08px;left:4285.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:0px;letter-spacing:-0.25px;white-space:nowrap">Commission&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:1166.92px;white-space:nowrap">Public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:1707.19px;white-space:nowrap">Reference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:2587.68px;white-space:nowrap">Room </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:3117.83px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:3307.94px;letter-spacing:-0.56px;white-space:nowrap">Washington, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6046.08px;left:4351.82px;white-space:nowrap">DC. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:0px;white-space:nowrap">Information </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:950.45px;white-space:nowrap">regarding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:1760.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:2061.21px;white-space:nowrap">operations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:2951.81px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:3151.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:3452.17px;white-space:nowrap">Public </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6296.08px;left:3992.43px;white-space:nowrap">Reference </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:0px;white-space:nowrap">Room </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:530.16px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:920.21px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:1170.44px;white-space:nowrap">obtained </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:1911.09px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:2151.21px;white-space:nowrap">calling </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:2711.51px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6546.08px;left:3181.73px;white-space:nowrap">SEC-0330.</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">1. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:190.2px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1000.46px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1497.39px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2210.89px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2557.97px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3011.31px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3831.68px;white-space:nowrap">LLC </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4211.89px;white-space:nowrap">(&#8220;AST&#8221;), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:299.97px;white-space:nowrap">act </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:590.1px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:830.21px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1230.56px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2340.88px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2691.21px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2991.18px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3441.62px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3691.85px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4372.29px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">participating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1020.59px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2111.22px;white-space:nowrap">(&#8220;participant&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3231.47px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3741.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:4042.09px;white-space:nowrap">Dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">Reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1150.49px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1500.82px;white-space:nowrap">Cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1971.04px;white-space:nowrap">Purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2781.47px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3191.75px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3551.92px;white-space:nowrap">&#8220;Plan&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:4142.02px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:300.23px;white-space:nowrap">same </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:790.4px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1290.67px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1530.79px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1881.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2071.14px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2581.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2881.58px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3888.81px;white-space:nowrap">present </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:590.27px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:900.44px;white-space:nowrap">registered, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1800.88px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2151.21px;white-space:nowrap">put </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2451.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2751.68px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3161.95px;white-space:nowrap">into </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3502.18px;letter-spacing:-0.46px;white-space:nowrap">effect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3989.18px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4229.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4429.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;text-rendering:optimizeLegibility;white-space:nowrap">first </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:339.96px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:900.18px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1300.52px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1560.59px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1710.7px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2431.23px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2641.29px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3211.61px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3691.93px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:400.25px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:797.08px;white-space:nowrap">receives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1517.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1817.58px;white-space:nowrap">authorization </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:2898.28px;white-space:nowrap">duly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:3278.5px;white-space:nowrap">executed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:4059.05px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:4299.17px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:0px;white-space:nowrap">participant.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">2. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:200.13px;white-space:nowrap">Whenever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1067.26px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1947.74px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2518.07px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3158.35px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3618.63px;white-space:nowrap">(the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3978.81px;white-space:nowrap">&#8220;Fund&#8221;) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:0px;white-space:nowrap">declares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:730.37px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:880.49px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1800.97px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2210.98px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2781.3px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3261.62px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3471.68px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3721.9px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:720.53px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1401.06px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1591.17px;white-space:nowrap">either </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2091.45px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2521.67px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2731.73px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3322px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3522.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3822.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:4282.65px;white-space:nowrap">(&#8220;Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">shares&#8221;), </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:760.17px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:900.18px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1200.41px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1800.53px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2240.68px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2550.85px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3051.12px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3301.35px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3601.58px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4372.12px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:0px;white-space:nowrap">equals </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:580.43px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:790.49px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1510.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1811.16px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2111.4px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2591.63px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3071.95px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3382.12px;white-space:nowrap">share, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3932.4px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:299.97px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:930.23px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1360.46px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2080.99px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2291.04px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3211.52px;white-space:nowrap">entirely </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3841.79px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:4031.89px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:0px;white-space:nowrap">shares, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:640.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:980.68px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1377.51px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1797.71px;white-space:nowrap">automatically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2898.19px;white-space:nowrap">receive </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3528.46px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3958.68px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:0px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:590.27px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:850.34px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1730.83px;white-space:nowrap">accounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:2501.28px;white-space:nowrap">including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:3261.8px;white-space:nowrap">aggregate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:4122.51px;white-space:nowrap">fractions. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:0px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:360.18px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1020.5px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:1220.63px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2041.26px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:2501.54px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3091.82px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3291.94px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:3542.17px;white-space:nowrap">credited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:4232.55px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:0px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:880.49px;white-space:nowrap">accounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:1650.94px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2071.14px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:2321.37px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3271.9px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:3512.02px;white-space:nowrap">dividing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:4172.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:0px;white-space:nowrap">equivalent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:870.64px;white-space:nowrap">dollar </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:1360.9px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:2011.29px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:2211.42px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:2511.65px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3081.97px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:3562.29px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:210.06px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:930.59px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:1611.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:1811.25px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:2781.74px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3021.86px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3322.09px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:3909.11px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:4209.35px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:480.32px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:790.49px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:1290.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:1490.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:1791.12px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2251.41px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:2841.68px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:3091.9px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:3392.14px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:4162.68px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:0px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:740.48px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:1090.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:1390.96px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:1851.24px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2271.45px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:2571.68px;white-space:nowrap">issue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:3041.89px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:3472.12px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:4062.39px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:4262.52px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:4412.64px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:0px;white-space:nowrap">lower </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:480.15px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:880.49px;white-space:nowrap">95% </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1290.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1490.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:1791.12px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:2401.35px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3001.46px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3441.62px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:3751.79px;white-space:nowrap">share. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:4298.82px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:0px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:770.54px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1170.88px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1470.85px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:1721.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2021.31px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:2701.85px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3102.19px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3362.26px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:3792.48px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:210.06px;white-space:nowrap">dividend.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:0px;white-space:nowrap">3. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:200.13px;white-space:nowrap">Whenever </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1070.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1370.74px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1831.03px;white-space:nowrap">declares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2561.4px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2711.51px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3631.99px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:4042px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:0px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:480.32px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:690.38px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:940.61px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1570.87px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2291.4px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2971.93px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3352.15px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3542.26px;white-space:nowrap">cash, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4022.49px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4232.55px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4372.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:0px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:587.02px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:887.26px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1367.49px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1847.81px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2157.98px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2658.25px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3378.69px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3678.93px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:4279.04px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:0px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:310.17px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:810.44px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1060.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1360.9px;white-space:nowrap">valuation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2131.44px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2571.86px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2968.68px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3388.89px;white-space:nowrap">apply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3869.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:4169.44px;white-space:nowrap">amount </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:200.13px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:630.35px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1350.88px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1560.94px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2481.42px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3161.95px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3362.08px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:4332.57px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:300.23px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1090.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1290.85px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1751.13px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2341.41px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2591.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2891.87px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3342.3px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:3942.42px;white-space:nowrap">(less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:4372.47px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:0px;white-space:nowrap">pro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:310.17px;white-space:nowrap">rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:670.34px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1170.62px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1370.74px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:1971.12px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:2361.36px;white-space:nowrap">incurred </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3061.67px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:3431.78px;white-space:nowrap">respect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:4072.06px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:4272.19px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:0px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:600.12px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1480.61px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:1670.71px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2591.37px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:2961.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:3261.71px;white-space:nowrap">reinvestment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:4342.15px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:0px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:430.22px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1150.75px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:1360.81px;white-space:nowrap">distribution). </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2391.24px;white-space:nowrap">If, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:2591.28px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3141.74px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3538.56px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:3878.79px;white-space:nowrap">completed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:0px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:230.01px;white-space:nowrap">purchases, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1160.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:1460.74px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2060.86px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:2501.02px;white-space:nowrap">exceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3221.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3521.69px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:3821.92px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:0px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:480.32px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:790.49px;white-space:nowrap">share, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1340.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:1641.01px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2341.49px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:2651.66px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3151.93px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:3942.42px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:0px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:390.32px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:620.51px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1017.33px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:1407.39px;white-space:nowrap">exceed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2037.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2338.07px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:2638.3px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3118.54px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3598.86px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:3798.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:4099.22px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:0px;white-space:nowrap">shares, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:640.28px;white-space:nowrap">resulting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1370.65px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1560.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:1861px;white-space:nowrap">acquisition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2761.52px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:2961.65px;white-space:nowrap">fewer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:3451.82px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4042.09px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:4442.43px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:0px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:300.23px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1020.76px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1230.82px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:1801.14px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:2281.46px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3201.94px;white-space:nowrap">had </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:3552.28px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:4002.71px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:4393.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:0px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:590.27px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:1160.6px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:1400.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:1700.95px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:2161.23px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:2361.36px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:2661.59px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:3191.84px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:3672.16px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:3982.32px;white-space:nowrap">share. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:0px;white-space:nowrap">Such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:460.28px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:1340.77px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:1640.74px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:1890.97px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:2391.24px;white-space:nowrap">promptly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:3131.46px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:3541.64px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:3841.88px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:0px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:400.34px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:660.41px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:1090.63px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:1811.16px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:2021.22px;white-space:nowrap">distribution, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:2991.71px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:3342.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:3532.15px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:3782.37px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:4272.71px;white-space:nowrap">later </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:0px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:400.34px;text-rendering:optimizeLegibility;white-space:nowrap">five </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:730.46px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:1490.89px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:1921.11px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:2331.21px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:2531.34px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:2831.57px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:3391.79px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:3792.13px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:4052.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:4352.43px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:0px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:720.53px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:930.59px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:1851.06px;white-space:nowrap">except </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:2431.41px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:2971.67px;white-space:nowrap">temporary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:3831.94px;white-space:nowrap">curtailment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:0px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:210.06px;white-space:nowrap">suspension </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:1170.7px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:1370.83px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:2161.32px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:2341.32px;white-space:nowrap">necessary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:3211.7px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:3411.83px;white-space:nowrap">comply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:4031.98px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:0px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:860.63px;white-space:nowrap">provisions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:1720.99px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:1921.11px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:2221.35px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:2881.67px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:3691.93px;white-space:nowrap">laws.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">4. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5410.2px;letter-spacing:-4.97px;white-space:nowrap">A </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5570.33px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6450.82px;white-space:nowrap">has </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6791.04px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7091.28px;white-space:nowrap">option </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7631.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7831.85px;white-space:nowrap">submitting </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8702.23px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6050.39px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6240.59px;letter-spacing:-3.99px;white-space:nowrap">AST, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6670.72px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6860.83px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7201.05px;white-space:nowrap">amounts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7941.45px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8141.57px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8341.7px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8771.92px;white-space:nowrap">$100, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9272.37px;white-space:nowrap">up </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9522.6px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9722.72px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">maximum </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6050.04px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6250.17px;white-space:nowrap">$5,000 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6850.72px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7160.89px;white-space:nowrap">month, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7761.18px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8021.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:8321.48px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9111.97px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:9312.1px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5220px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:5810.27px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6070.34px;white-space:nowrap">his </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6350.45px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6560.51px;white-space:nowrap">her </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:6870.67px;white-space:nowrap">account. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:7597.88px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8148.16px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:8978.55px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9368.61px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:9618.84px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:5220px;white-space:nowrap">electronically </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6310.46px;white-space:nowrap">through </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:6961.03px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7357.85px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:7557.98px;letter-spacing:-0.62px;white-space:nowrap">www.amstock.com </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9098.26px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9308.32px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:9548.44px;white-space:nowrap">check </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5220px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:5900.54px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6100.66px;white-space:nowrap">&#8220;American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:6970.87px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:7467.8px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8181.3px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8528.38px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:8981.72px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5220px;white-space:nowrap">LLC&#8221; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:5660.16px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6010.49px;white-space:nowrap">sent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6400.72px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:6590.92px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7401.18px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:7898.12px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8611.61px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:8958.69px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:5220px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6040.37px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6470.6px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:6857.49px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7217.67px;white-space:nowrap">922, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:7618.01px;letter-spacing:-1.34px;white-space:nowrap">Wall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8011.32px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:8541.56px;white-space:nowrap">Station, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9201.97px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:9608.82px;letter-spacing:-2.75px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5220px;letter-spacing:-1.08px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:5516.81px;white-space:nowrap">10269-0560, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:6567.8px;white-space:nowrap">Attention: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:7375.08px;letter-spacing:-2px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8255.57px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:8825.89px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1978.64px;left:9466.17px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5220px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:5616.83px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6037.03px;white-space:nowrap">apply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6517.35px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:6947.58px;white-space:nowrap">payments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:7777.97px;white-space:nowrap">(less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8208.02px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8358.13px;white-space:nowrap">$5.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:8858.58px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2228.64px;left:9478.74px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5570.33px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:5940.44px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6090.56px;white-space:nowrap">pro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6400.72px;white-space:nowrap">rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:6760.9px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7261.17px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:7461.3px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8061.68px;white-space:nowrap">fees) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8511.86px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:8711.98px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2478.64px;left:9592.47px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:5680.28px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6270.56px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6520.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:6821.02px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7271.46px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:7921.58px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:8161.7px;white-space:nowrap">discussed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:9012.13px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2728.64px;left:9532.44px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:5220px;white-space:nowrap">paragraph </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6090.64px;white-space:nowrap">6. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6280.84px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:6677.67px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:7097.87px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:7588.04px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8018.26px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2978.64px;left:8898.75px;white-space:nowrap">promptly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:5220px;white-space:nowrap">beginning </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6050.74px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6300.97px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:6601.2px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:7321.73px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:8062.12px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:8512.47px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:9022.68px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:9202.68px;white-space:nowrap">usually </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3228.64px;left:9812.99px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5220px;white-space:nowrap">last </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:5550.12px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6310.55px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6650.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:6850.9px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7291.23px;white-space:nowrap">month, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:7891.52px;letter-spacing:-2.48px;white-space:nowrap">or, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:8141.66px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:8331.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:8632px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9122.34px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9472.59px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3478.64px;left:9932.87px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5220px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:5470.22px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:6190.75px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:6400.81px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:7321.29px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:7711.61px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:7901.72px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:8051.84px;white-space:nowrap">month, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:8642.2px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:9039.02px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3728.64px;left:9459.23px;white-space:nowrap">make </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:5220px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:5650.22px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:6530.71px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:6780.94px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:7081.17px;white-space:nowrap">last </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:7411.29px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:8171.72px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:8511.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:8712.07px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:9062.31px;white-space:nowrap">month, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3978.64px;left:9662.61px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:5410.11px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:5660.33px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:6150.67px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:6610.78px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:7011.12px;white-space:nowrap">30 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:7261.35px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:7691.57px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:8101.76px;white-space:nowrap">receipt, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:8742.04px;white-space:nowrap">except </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4228.64px;left:9322.38px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:5220px;white-space:nowrap">necessary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:6090.38px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:6290.51px;white-space:nowrap">comply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:6910.66px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:7280.77px;white-space:nowrap">provisions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:8141.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:8341.26px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:8641.49px;white-space:nowrap">Federal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4478.64px;left:9301.82px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:5220px;white-space:nowrap">laws. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:5670.18px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:6030.35px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:6810.73px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:7551.12px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:8281.49px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:8651.6px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4728.64px;left:9051.94px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:5220px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:5980.43px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:6410.65px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:6971.04px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:7221.27px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:8141.66px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:8542px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:8962.21px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4978.64px;left:9212.43px;white-space:nowrap">invested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:5220px;white-space:nowrap">during </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:5770.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:6070.61px;white-space:nowrap">following </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:6821.02px;white-space:nowrap">month </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:7371.3px;white-space:nowrap">unless </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:7941.62px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:8401.9px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:8712.07px;white-space:nowrap">more </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:9172.18px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5228.64px;left:9572.52px;white-space:nowrap">30 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:5220px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:5650.22px;white-space:nowrap">until </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:6030.44px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:6330.67px;white-space:nowrap">next </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:6720.91px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:7641.3px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:8091.65px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:8281.76px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:8791.96px;white-space:nowrap">case </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5478.64px;left:9222.19px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:5220px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:5960.39px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:6260.36px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:6510.59px;white-space:nowrap">returned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:7231.03px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:7431.15px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:7731.39px;white-space:nowrap">participant. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:8651.95px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:9048.78px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5728.64px;left:9468.98px;white-space:nowrap">return </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:5220px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:5420.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:5720.36px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:6600.85px;white-space:nowrap">his </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:6880.96px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:7091.02px;white-space:nowrap">her </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:7401.18px;white-space:nowrap">entire </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:7901.46px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:8681.84px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5978.64px;left:9112.06px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:5220px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:5670.44px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:6250.61px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:6780.94px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:6981.06px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:7881.42px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:8611.79px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:8841.97px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:9238.8px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6228.64px;left:9539.03px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:5220px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:5620.34px;white-space:nowrap">48 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:5870.57px;white-space:nowrap">hours </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:6370.84px;white-space:nowrap">before </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:6931.23px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:7361.46px;white-space:nowrap">payment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:8101.85px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:8281.85px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:8481.97px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:8732.2px;white-space:nowrap">invested. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6478.64px;left:9502.65px;white-space:nowrap">Such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:5220px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:5800.17px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:6330.5px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:6750.7px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:7000.93px;white-space:nowrap">sent </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:7391.16px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:7581.36px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:7978.18px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:8218.3px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:8518.54px;white-space:nowrap">participant, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6728.64px;left:9449.03px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:5220px;white-space:nowrap">discussed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:6070.43px;white-space:nowrap">below </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:6590.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:6780.85px;white-space:nowrap">paragraph </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6978.64px;left:7651.49px;white-space:nowrap">14.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5220px;white-space:nowrap">5. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5420.13px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5740.14px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:5970.23px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:6760.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:6960.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7261.08px;white-space:nowrap">Plan: </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7721.37px;white-space:nowrap">(a) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:7991.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8291.6px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:8891.72px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:9331.88px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7408.64px;left:9532px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:5220px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:5807.02px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6397.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6647.52px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:6797.64px;white-space:nowrap">particular </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:7587.95px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:7988.29px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:8408.5px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:8658.72px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:8958.96px;white-space:nowrap">last </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7658.64px;left:9289.07px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5220px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5660.16px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:5910.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6210.62px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:6617.46px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:7021.05px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:7521.24px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8371.85px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8622.07px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:8972.31px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:9372.66px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7908.64px;left:9512.67px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:5220px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:5980.43px;white-space:nowrap">day </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:6320.65px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:6670.99px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:6811px;white-space:nowrap">not, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:7161.24px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:7411.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:7711.7px;white-space:nowrap">preceding </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:8552.29px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:9312.71px;letter-spacing:-2.67px;white-space:nowrap">day, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8158.64px;left:9689.59px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:5220px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:5360.01px;white-space:nowrap">there </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:5820.29px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:6000.29px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:6250.52px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:6630.73px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:6880.96px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:7311.18px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8161.79px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8412.01px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:8842.24px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:9292.59px;white-space:nowrap">then </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8408.64px;left:9692.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:5220px;white-space:nowrap">mean </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:5720.27px;white-space:nowrap">between </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6450.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:6751.05px;white-space:nowrap">closing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:7361.37px;white-space:nowrap">bid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:7651.58px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:8001.91px;white-space:nowrap">asked </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:8532.25px;white-space:nowrap">quotations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:9412.91px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.64px;left:9672.98px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:5220px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:5810.27px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6060.5px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:6490.72px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7341.33px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:7591.55px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:8021.78px;white-space:nowrap">date, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:8472.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:8822.46px;white-space:nowrap">(b) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:9092.46px;white-space:nowrap">net </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8908.64px;left:9392.7px;white-space:nowrap">asset </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5220px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:5700.32px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6010.49px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6510.76px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:6710.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:7011.12px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:7598.14px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:8188.42px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:8438.64px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:8588.76px;white-space:nowrap">particular </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9158.64px;left:9379.07px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:5220px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:5640.21px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:5890.43px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:6130.55px;white-space:nowrap">determined </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:7081.08px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:7321.2px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:7531.26px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:7781.48px;white-space:nowrap">behalf </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:8321.92px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:8522.05px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9408.64px;left:8822.29px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5220px;white-space:nowrap">6. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5420.13px;white-space:nowrap">Open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5910.47px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6510.59px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7391.07px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8131.55px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8391.62px;white-space:nowrap">above </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8932.06px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9322.12px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5220px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5720.27px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5970.5px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6310.72px;white-space:nowrap">securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7120.99px;white-space:nowrap">exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7951.64px;white-space:nowrap">where </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8491.9px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8952.19px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:9542.46px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5220px;white-space:nowrap">traded, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5830.4px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6020.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6320.74px;white-space:nowrap">over-the-counter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7691.4px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8291.51px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8501.57px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8691.68px;white-space:nowrap">negotiated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5220px;white-space:nowrap">transactions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6240.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6590.83px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6980.89px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7231.11px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7481.34px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7911.56px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8411.57px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8651.69px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8851.82px;white-space:nowrap">price, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:9341.98px;white-space:nowrap">delivery </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5570.33px;white-space:nowrap">otherwise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6390.7px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6620.89px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7017.71px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7437.92px;white-space:nowrap">determine. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:8338.36px;white-space:nowrap">Participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:9238.8px;white-space:nowrap">funds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5220px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5610.32px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5840.51px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6237.33px;white-space:nowrap">uninvested </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7157.99px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7457.96px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7758.19px;white-space:nowrap">bear </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8168.47px;white-space:nowrap">interest, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8858.76px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:9209.09px;white-space:nowrap">it </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:9349.1px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5220px;white-space:nowrap">understood </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6170.71px;white-space:nowrap">that, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6570.97px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6761.07px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7101.3px;white-space:nowrap">event, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7631.72px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8028.54px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8448.75px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8889.08px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:9139.31px;white-space:nowrap">liability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:5410.11px;white-space:nowrap">connection </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6330.76px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6700.87px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7041.09px;white-space:nowrap">inability </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7691.4px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7891.52px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:8682.01px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:9142.29px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5220px;white-space:nowrap">within </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5730.21px;text-rendering:optimizeLegibility;white-space:nowrap">five </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6060.32px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6820.75px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7250.98px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7661.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7861.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8161.44px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8721.65px;white-space:nowrap">date </div><div style="font-family:Arial, 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			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:0px;letter-spacing:-3.33px;white-space:nowrap">TERMS </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:724.14px;letter-spacing:-3px;white-space:nowrap">AND </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:1197.01px;letter-spacing:-3.64px;white-space:nowrap">CONDITIONS </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:2464.14px;letter-spacing:-2.67px;white-space:nowrap">OF </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:2785.45px;letter-spacing:-3.56px;white-space:nowrap">DIVIDEND </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:3760.68px;letter-spacing:-3.69px;white-space:nowrap">REINVESTMENT </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:5323.62px;letter-spacing:-3px;white-space:nowrap">AND </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:5796.48px;letter-spacing:-3.2px;white-space:nowrap">CASH </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:6398.75px;letter-spacing:-3.56px;white-space:nowrap">PURCHASE </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:7540.68px;letter-spacing:-4px;white-space:nowrap">PLAN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:489.02px;left:8110.37px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:720.53px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:930.59px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1851.06px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2091.18px;white-space:nowrap">herein </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2641.55px;white-space:nowrap">provided, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3432.04px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3642.1px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4012.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4312.44px;white-space:nowrap">timing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:200.13px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:540.35px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1420.84px;letter-spacing:-0.33px;white-space:nowrap">effected. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2148.13px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2544.96px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2965.17px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3405.5px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3655.72px;white-space:nowrap">responsibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:240.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:440.24px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:740.48px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1220.8px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1420.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:1721.16px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2181.45px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:2771.72px;white-space:nowrap">acquired </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3512.2px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:3772.27px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:0px;white-space:nowrap">accounts. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:820.46px;white-space:nowrap">For </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1140.47px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:1440.7px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2231.19px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:2431.32px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3311.81px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3562.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:728.64px;left:3862.27px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:0px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:640.2px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1037.02px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:1427.08px;white-space:nowrap">aggregate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:2287.79px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3168.28px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:3538.39px;white-space:nowrap">those </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4028.73px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:978.64px;left:4228.86px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:0px;white-space:nowrap">participants, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1020.5px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1370.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:1671.06px;white-space:nowrap">average </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2371.55px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:2811.71px;white-space:nowrap">(including </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:3632.17px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1228.64px;left:4232.55px;white-space:nowrap">fees) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:200.13px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:430.22px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1020.5px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:1911.09px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2141.28px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2538.11px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:2958.31px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3208.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3508.77px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:3948.93px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1478.64px;left:4259.09px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:0px;white-space:nowrap">allocable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:760.52px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:960.64px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1728.64px;left:1190.74px;white-space:nowrap">participants.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:0px;white-space:nowrap">7. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:190.2px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:587.02px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:886.99px;white-space:nowrap">hold </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1277.31px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1867.59px;white-space:nowrap">acquired </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2608.07px;white-space:nowrap">pursuant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3358.56px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3558.69px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3888.81px;white-space:nowrap">Plan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">together </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:710.51px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1080.62px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1380.85px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1971.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2171.25px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2631.53px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3602.02px;white-space:nowrap">acquired </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:0px;white-space:nowrap">pursuant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:750.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:950.63px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1280.74px;white-space:nowrap">Plan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1741.03px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:1931.13px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2161.14px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2661.42px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:2871.47px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3221.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3421.85px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:3651.86px;white-space:nowrap">nominee. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:4432.41px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:0px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:299.97px;white-space:nowrap">forward </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:950.19px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:1150.31px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2120.8px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2461.03px;white-space:nowrap">proxy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:2951.19px;white-space:nowrap">solicitation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:3841.61px;white-space:nowrap">material </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:350.33px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:650.3px;white-space:nowrap">vote </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1040.54px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1380.76px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:1971.04px;white-space:nowrap">so </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2211.15px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2601.47px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:2861.54px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:3832.03px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:4212.25px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:0px;white-space:nowrap">accordance </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:980.6px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1350.7px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:1650.94px;white-space:nowrap">proxies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:2281.2px;white-space:nowrap">returned </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3001.64px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:3241.76px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:4212.25px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:4412.37px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:0px;white-space:nowrap">Fund. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:510.29px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:990.62px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:1570.78px;white-space:nowrap">request, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2261.25px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2658.08px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:2958.05px;white-space:nowrap">deliver </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3538.3px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:3738.43px;white-space:nowrap">participants, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:0px;white-space:nowrap">without </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:620.33px;white-space:nowrap">charge, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1270.72px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:1420.84px;text-rendering:optimizeLegibility;white-space:nowrap">certificate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2241.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:2451.18px;text-rendering:optimizeLegibility;white-space:nowrap">certificates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3361.46px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3621.53px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:3851.63px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:4061.69px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:4211.81px;white-space:nowrap">portion </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:200.13px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:500.36px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:780.47px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1370.74px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1761.06px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:1991.25px;letter-spacing:-4.99px;white-space:nowrap">AST.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:0px;white-space:nowrap">8. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:190.2px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:587.02px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:886.99px;text-rendering:optimizeLegibility;white-space:nowrap">confirm </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1527.1px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1727.23px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2697.71px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:3138.05px;white-space:nowrap">acquisition </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:4038.57px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:260.07px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:510.29px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1190.74px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1430.86px;white-space:nowrap">soon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:1871.19px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:2111.31px;white-space:nowrap">practicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3031.79px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3332.02px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:3632.26px;white-space:nowrap">later </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4838.64px;left:4032.42px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:0px;white-space:nowrap">ten </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:300.23px;white-space:nowrap">business </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1060.66px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1490.89px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:1901.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2201.31px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:2601.65px;white-space:nowrap">thereof. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3252.13px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3648.96px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:3948.93px;white-space:nowrap">send </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5088.64px;left:4389.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:0px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:970.49px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1120.61px;white-space:nowrap">detailed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:1801.14px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:2481.59px;white-space:nowrap">statement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:3322px;white-space:nowrap">showing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5338.64px;left:4032.42px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:0px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:810.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:1160.86px;white-space:nowrap">distributions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2221.35px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2621.69px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:2821.82px;white-space:nowrap">investment, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5588.64px;left:3792.22px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:0px;white-space:nowrap">acquired </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:740.48px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1090.81px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1530.97px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:1841.13px;white-space:nowrap">share, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2391.42px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:2741.75px;white-space:nowrap">total </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3131.98px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3722.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5838.64px;left:3922.38px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:260.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:560.3px;white-space:nowrap">account. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:1280.83px;white-space:nowrap">Although </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:2041.44px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3011.92px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3401.98px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:3811.99px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6088.64px;left:4202.05px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:0px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:390.06px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:830.39px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1080.62px;white-space:nowrap">undivided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:1901.25px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:2681.63px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:3321.91px;white-space:nowrap">(computed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6338.64px;left:4222.35px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:0px;white-space:nowrap">three </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:460.28px;white-space:nowrap">decimal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1130.54px;white-space:nowrap">places) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1760.8px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:1950.91px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2101.03px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2601.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:2801.43px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3101.66px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3611.95px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6588.64px;left:3862.18px;text-rendering:optimizeLegibility;white-space:nowrap">certificates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:0px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:260.07px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:410.19px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1190.57px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1690.84px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:1990.81px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2241.04px;white-space:nowrap">issued. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:2861.37px;letter-spacing:-1.1px;white-space:nowrap">However, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6838.64px;left:3661.7px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:350.33px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1360.81px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:1611.04px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2391.42px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:2981.69px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3281.66px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:3531.88px;white-space:nowrap">credited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:4222.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:0px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:880.49px;white-space:nowrap">accounts. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1700.95px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:1901.07px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2201.31px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2691.65px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:2891.78px;white-space:nowrap">termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:3832.21px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:4032.33px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:0px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:680.45px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1190.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1491.06px;white-space:nowrap">Plan, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:1941.42px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2338.24px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:2638.21px;white-space:nowrap">adjust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3168.54px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3428.61px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:3768.84px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:0px;white-space:nowrap">undivided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:820.63px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:1601.02px;white-space:nowrap">interest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2241.3px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2431.41px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:2861.63px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3061.76px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3361.99px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:3962.11px;white-space:nowrap">price </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:4402.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:4602.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:0px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:587.02px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1177.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1427.52px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:1727.75px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2128.1px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:2328.22px;white-space:nowrap">termination.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:0px;white-space:nowrap">9. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:190.2px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:550.37px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1050.64px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:1861.17px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2071.23px;white-space:nowrap">split </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:2441.34px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3031.61px;white-space:nowrap">distributed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:3912.1px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8518.64px;left:4152.22px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:0px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:460.28px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:710.51px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1300.78px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1691.1px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:1921.29px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:2318.12px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:2578.18px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3548.67px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:3848.64px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8768.64px;left:4098.87px;white-space:nowrap">credited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:200.13px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:1080.62px;white-space:nowrap">accounts. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:1901.07px;white-space:nowrap">In </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2101.2px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2401.44px;white-space:nowrap">event </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:2891.78px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3242.02px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:3542.26px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9018.64px;left:4002.54px;white-space:nowrap">makes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:0px;white-space:nowrap">available </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:760.52px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:960.64px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:1190.65px;white-space:nowrap">shareholders </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:2281.29px;white-space:nowrap">transferable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:3281.84px;white-space:nowrap">rights </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:3772px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9268.64px;left:3972.13px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:0px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:820.63px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:1280.92px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:1871.19px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2081.25px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:2541.53px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3391.88px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:3788.7px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:4088.67px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9518.64px;left:4408.77px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:0px;white-space:nowrap">rights </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:490.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:840.5px;white-space:nowrap">apply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1320.82px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:1621.05px;white-space:nowrap">proceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2411.54px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2611.67px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:2911.9px;white-space:nowrap">sale </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3292.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3492.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9768.64px;left:3792.48px;white-space:nowrap">purchase </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:200.13px;white-space:nowrap">additional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:1020.76px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:1481.04px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2071.32px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2331.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:2631.62px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:3512.11px;white-space:nowrap">accounts. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10018.64px;left:4329.32px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:0px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:590.27px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:980.6px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:1240.66px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:2211.15px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:2721.53px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:3021.77px;white-space:nowrap">Planwill </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:3682px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10268.64px;left:3932.23px;white-space:nowrap">added </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:200.13px;white-space:nowrap">underlying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1080.7px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:1670.98px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2061.3px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:2301.42px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3271.9px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:3462.01px;white-space:nowrap">calculating </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10518.64px;left:4362.54px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:0px;white-space:nowrap">number </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:660.32px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:860.45px;white-space:nowrap">rights </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1350.62px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1550.74px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10768.64px;left:1800.97px;white-space:nowrap">issued.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:0px;white-space:nowrap">10. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:290.3px;letter-spacing:-0.54px;white-space:nowrap">AST&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:817.12px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:1437.28px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:2037.66px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:2297.72px;white-space:nowrap">capital </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:2868.05px;white-space:nowrap">gains </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:3348.37px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:3558.43px;white-space:nowrap">income </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11198.64px;left:4188.69px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:0px;white-space:nowrap">purchases </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:880.49px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:1180.46px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:1430.68px;white-space:nowrap">paid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:1821.01px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:2061.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:2361.36px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:2821.64px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:3301.96px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:3892.24px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11448.64px;left:4202.4px;white-space:nowrap">issued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:0px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:240.12px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:540.35px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:1000.63px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:1210.69px;white-space:nowrap">purchased </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:2101.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:2351.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:2651.75px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:3102.19px;white-space:nowrap">market. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:3742.38px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11698.64px;left:4139.21px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5220px;white-space:nowrap">deduct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5810.45px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:5960.57px;white-space:nowrap">$5.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:6461.02px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7081.17px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:7681.55px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8091.56px;white-space:nowrap">each </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:8531.89px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:9312.28px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:5220px;white-space:nowrap">payment. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:6010.4px;white-space:nowrap">Participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7000.84px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7300.81px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:7551.04px;white-space:nowrap">charged </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8251.52px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8401.64px;white-space:nowrap">pro </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:8711.81px;white-space:nowrap">rata </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9071.98px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:9572.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5220px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:5820.38px;white-space:nowrap">fees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6210.62px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6460.84px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:6690.94px;white-space:nowrap">open </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7141.38px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:7741.49px;white-space:nowrap">purchases.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5220px;letter-spacing:-3.34px;white-space:nowrap">11. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:5506.87px;white-space:nowrap">Participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6497.31px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:6887.37px;white-space:nowrap">withdraw </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:7647.63px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8237.9px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:8647.91px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:9078.13px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5220px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:5900.45px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6110.51px;white-space:nowrap">terminate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:6910.84px;white-space:nowrap">their </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:7311.01px;white-space:nowrap">participation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8331.59px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:8891.98px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9192.22px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:9602.49px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5220px;white-space:nowrap">notifying </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:5930.51px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6327.33px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:6517.44px;white-space:nowrap">writing. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7137.6px;white-space:nowrap">Such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:7597.88px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8498.23px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:8708.29px;white-space:nowrap">termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5220px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5519.97px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:5770.2px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:6487.29px;white-space:nowrap">immediately </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7497.6px;white-space:nowrap">if </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:7637.61px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8167.94px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:8347.94px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9078.31px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:9308.5px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5220px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5520.23px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:5890.34px;white-space:nowrap">than </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6290.68px;white-space:nowrap">two </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:6620.8px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7051.03px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7461.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:7661.25px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8001.47px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8722px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:8932.06px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5220px;white-space:nowrap">record </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:5780.21px;white-space:nowrap">date; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:6230.57px;white-space:nowrap">otherwise </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7050.94px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:7481.16px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8381.51px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:8591.57px;white-space:nowrap">termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:9532px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5220px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:5470.22px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6187.32px;white-space:nowrap">after </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6597.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:6897.74px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:7818.13px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8018.26px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8358.49px;white-space:nowrap">current </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:8968.71px;white-space:nowrap">dividend </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5220px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:5430.06px;white-space:nowrap">distribution </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6350.54px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:6560.6px;white-space:nowrap">voluntary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7340.98px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:7771.2px;white-space:nowrap">payment. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8558.35px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:8918.53px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2658.64px;left:9328.8px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5220px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:5470.22px;white-space:nowrap">terminated </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6370.66px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6600.85px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:6997.68px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7207.73px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7507.97px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:7968.25px;white-space:nowrap">upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8418.69px;white-space:nowrap">90 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:8668.92px;letter-spacing:-1.11px;white-space:nowrap">days&#8217; </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2908.64px;left:9132.45px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5220px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5410.11px;white-space:nowrap">writing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:5980.25px;white-space:nowrap">mailed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6560.51px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:6760.63px;white-space:nowrap">participants. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:7781.13px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8261.46px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:8601.68px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3158.64px;left:9502.03px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:5220px;white-space:nowrap">termination, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6200.51px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6597.33px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:6897.3px;white-space:nowrap">cause </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7427.64px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:7577.75px;text-rendering:optimizeLegibility;white-space:nowrap">certificate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8398.04px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:8608.1px;text-rendering:optimizeLegibility;white-space:nowrap">certificates </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:9518.38px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3408.64px;left:9778.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5220px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:5500.11px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6090.38px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6480.7px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:6710.89px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7107.71px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:7367.78px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8338.27px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:8688.6px;white-space:nowrap">cash </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3658.64px;left:9118.83px;white-space:nowrap">adjustment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5220px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5480.07px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:5820.29px;white-space:nowrap">fractional </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:6600.67px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7190.95px;white-space:nowrap">(valued </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:7831.32px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8031.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8331.68px;white-space:nowrap">market </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:8931.8px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3908.64px;left:9412.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:5520.23px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6110.51px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6310.63px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:6610.87px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7000.93px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:7201.05px;white-space:nowrap">withdrawal </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8101.41px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:8311.46px;white-space:nowrap">termination) </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:9311.84px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4158.64px;left:9511.96px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:5220px;white-space:nowrap">delivered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6000.47px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:6200.6px;white-space:nowrap">participants, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7221.09px;white-space:nowrap">less </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7591.2px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:7931.43px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8531.81px;white-space:nowrap">fees. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4408.64px;left:8962.12px;letter-spacing:-0.89px;white-space:nowrap">Alternatively, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5220px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:5370.12px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6250.61px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:6640.66px;white-space:nowrap">elect </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7070.89px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7311.01px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:7891.17px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8421.5px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:8611.7px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:9008.53px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4658.64px;left:9208.65px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5220px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5616.83px;white-space:nowrap">sell </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:5936.92px;white-space:nowrap">part </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6297.1px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6507.16px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6737.26px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:6937.38px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7237.62px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:7827.89px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8218.21px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8478.28px;white-space:nowrap">him </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:8818.33px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:9168.66px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4908.64px;left:9368.79px;white-space:nowrap">remit </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:5520.23px;white-space:nowrap">proceeds </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6310.72px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6510.85px;white-space:nowrap">him. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:6890.98px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7287.8px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:7467.8px;white-space:nowrap">authorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8358.4px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:8558.53px;white-space:nowrap">deduct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:9148.97px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5158.64px;left:9299.09px;white-space:nowrap">$15.00 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5220px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:5840.16px;white-space:nowrap">charge </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6440.54px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6790.87px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:6940.99px;white-space:nowrap">$0.12 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:7441.44px;white-space:nowrap">per </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:7751.6px;white-space:nowrap">share </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8251.87px;white-space:nowrap">trading </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:8852.26px;white-space:nowrap">fee </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:9152.49px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5408.64px;left:9412.56px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:5220px;white-space:nowrap">transaction </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6150.5px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6560.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:6860.74px;white-space:nowrap">proceeds. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7701.24px;white-space:nowrap">If </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:7851.27px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8001.39px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:8881.87px;white-space:nowrap">disposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5658.64px;left:9642.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5220px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:5450.1px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6040.37px;white-space:nowrap">registered </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:6890.8px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7080.91px;white-space:nowrap">his </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7361.02px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:7861.29px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8111.51px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8411.75px;white-space:nowrap">books </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:8942.08px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:9142.21px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5908.64px;left:9442.44px;white-space:nowrap">Fund, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5220px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:5616.83px;letter-spacing:-2.67px;white-space:nowrap">may, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6043.54px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6243.66px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:6473.67px;white-space:nowrap">option, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7064.12px;white-space:nowrap">terminate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:7864.45px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:8164.69px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:9171.91px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6158.64px;left:9852.36px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:5220px;white-space:nowrap">determine </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6070.1px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6479.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:6779.69px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:7659.84px;white-space:nowrap">whether </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8349.9px;white-space:nowrap">he </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:8599.79px;white-space:nowrap">wishes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:9199.67px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6408.64px;left:9399.46px;white-space:nowrap">continue </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5220px;white-space:nowrap">his </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:5500.11px;white-space:nowrap">participation </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:6520.69px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:6710.8px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6658.64px;left:7011.04px;white-space:nowrap">Plan.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5220px;white-space:nowrap">12. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:5516.98px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6067.27px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6567.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:6917.61px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:7778.14px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:8168.2px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:8418.43px;white-space:nowrap">amended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7088.64px;left:9219.02px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:5220px;white-space:nowrap">supplemented </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6400.81px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:6631px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7027.82px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7237.88px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7538.12px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:7998.4px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8198.53px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8538.75px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:8928.81px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7338.64px;left:9138.87px;white-space:nowrap">times, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5220px;white-space:nowrap">except </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:5800.34px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:6280.66px;white-space:nowrap">necessary </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7151.04px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:7361.1px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8321.75px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:8521.87px;white-space:nowrap">comply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7588.64px;left:9142.03px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:5220px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6080.62px;white-space:nowrap">law </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6400.72px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6610.78px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:6911.02px;white-space:nowrap">rules </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7351.17px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:7561.23px;white-space:nowrap">policies </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8211.53px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8411.66px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:8711.89px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7838.64px;left:9111.97px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5220px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:5570.33px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:6420.94px;white-space:nowrap">Commission </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7461.12px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:7671.18px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8011.41px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:8471.69px;white-space:nowrap">regulatory </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8088.64px;left:9322.12px;letter-spacing:-1.21px;white-space:nowrap">authority, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5220px;white-space:nowrap">only </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5600.21px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:5840.33px;white-space:nowrap">mailing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6460.58px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:6660.7px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:7631.19px;white-space:nowrap">appropriate </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:8591.84px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8338.64px;left:9172px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5220px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5420.13px;white-space:nowrap">least </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:5850.35px;white-space:nowrap">90 </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6100.58px;white-space:nowrap">days </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6530.8px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:6940.9px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7141.03px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:7441.26px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8158.36px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:8558.7px;white-space:nowrap">thereof. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8588.64px;left:9215.86px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:5220px;white-space:nowrap">amendment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6220.55px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:6430.61px;white-space:nowrap">supplement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7411.2px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:7831.41px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8081.63px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8782.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:8982.25px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8838.64px;left:9232.47px;white-space:nowrap">accepted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5220px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:5460.12px;white-space:nowrap">participants </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:6430.61px;white-space:nowrap">unless, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7050.94px;white-space:nowrap">prior </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7461.04px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7661.16px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:7961.4px;letter-spacing:-0.33px;white-space:nowrap">effective </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:8678.5px;white-space:nowrap">date </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9088.64px;left:9078.84px;white-space:nowrap">thereof, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5220px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:5616.83px;white-space:nowrap">receives </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6337.09px;white-space:nowrap">written </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:6917.26px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7447.59px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7647.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:7947.95px;white-space:nowrap">termination </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:8888.38px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:9088.51px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9338.64px;left:9238.62px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5220px;white-space:nowrap">account </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:5900.45px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6410.83px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:6711.06px;white-space:nowrap">Plan. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7161.42px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7521.59px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:7951.82px;white-space:nowrap">amendment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:8952.36px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9588.64px;left:9342.42px;white-space:nowrap">include </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5220px;white-space:nowrap">an </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:5470.22px;white-space:nowrap">appointment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6510.94px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:6741.12px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7137.95px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7328.06px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:7558.07px;white-space:nowrap">place </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8038.39px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8388.72px;white-space:nowrap">stead </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:8879.06px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9079.19px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9838.64px;left:9229.31px;white-space:nowrap">successor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5220px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:5620.34px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:6730.66px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7241.04px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:7731.39px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8231.4px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:8581.73px;white-space:nowrap">conditions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10088.64px;left:9492.28px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5220px;white-space:nowrap">full </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:5500.11px;white-space:nowrap">power </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6040.37px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:6390.7px;white-space:nowrap">authority </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7131.09px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:7331.22px;white-space:nowrap">perform </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8001.39px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8231.48px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8441.54px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8781.77px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:8981.89px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9282.13px;white-space:nowrap">acts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10338.64px;left:9662.26px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5220px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:5470.22px;white-space:nowrap">performed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6340.61px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6570.79px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:6967.62px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7478px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:7968.34px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8468.35px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10588.64px;left:8818.68px;white-space:nowrap">conditions. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5220px;white-space:nowrap">Upon </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:5700.32px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6040.55px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:6470.77px;white-space:nowrap">appointment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7511.48px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7711.61px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:7861.73px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:8262.07px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:10838.64px;left:9372.39px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5220px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:5520.23px;white-space:nowrap">purpose </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6220.72px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:6420.85px;white-space:nowrap">receiving </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:7191.21px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8001.74px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:8352.07px;white-space:nowrap">distributions, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11088.64px;left:9412.56px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5220px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5680.28px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:5980.25px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:6230.48px;white-space:nowrap">authorized </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7121.07px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7321.2px;white-space:nowrap">pay </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7661.43px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:7861.55px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:8291.78px;white-space:nowrap">successor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11338.64px;left:9152.05px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:5220px;letter-spacing:-0.66px;white-space:nowrap">Administrator, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6370.4px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6630.47px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:6780.59px;letter-spacing:-0.23px;white-space:nowrap">participant&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:7787.81px;white-space:nowrap">account, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:8518.27px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:8748.37px;white-space:nowrap">dividends </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11588.64px;left:9558.9px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:5220px;white-space:nowrap">distributions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6230.48px;white-space:nowrap">payable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:6911.02px;white-space:nowrap">on </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7161.24px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:7621.52px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8211.8px;white-space:nowrap">held </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8602.12px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:11838.64px;left:8792.23px;white-space:nowrap">a </div><div style="font-family:Arial, 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			<div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:0px;letter-spacing:-3.33px;white-space:nowrap">TERMS </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:724.14px;letter-spacing:-3px;white-space:nowrap">AND </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:1197.01px;letter-spacing:-3.64px;white-space:nowrap">CONDITIONS </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:2464.14px;letter-spacing:-2.67px;white-space:nowrap">OF </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:2785.45px;letter-spacing:-3.56px;white-space:nowrap">DIVIDEND </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:3760.68px;letter-spacing:-3.69px;white-space:nowrap">REINVESTMENT </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:5323.62px;letter-spacing:-3px;white-space:nowrap">AND </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:5796.48px;letter-spacing:-3.2px;white-space:nowrap">CASH </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:6398.75px;letter-spacing:-3.56px;white-space:nowrap">PURCHASE </div><div style="font-family:Arial, sans-serif;font-size:200px;font-weight:bold;position:absolute;top:455.15px;left:7540.68px;letter-spacing:-4px;white-space:nowrap">PLAN</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:489.02px;left:8110.37px;letter-spacing:-2.91px;white-space:nowrap">(continued)</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:0px;white-space:nowrap">name </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:500.27px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:710.33px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1220.71px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1520.95px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:1931.22px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2191.29px;white-space:nowrap">retention </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:2941.79px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:3151.85px;white-space:nowrap">application </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4062.48px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:-21.36px;left:4302.6px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:0px;white-space:nowrap">successor </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:860.27px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:1260.62px;white-space:nowrap">Administrator </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2370.94px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:2611.05px;white-space:nowrap">provided </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3351.53px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:3541.64px;white-space:nowrap">these </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4031.98px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:228.64px;left:4531.99px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:478.64px;left:0px;white-space:nowrap">conditions.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:0px;white-space:nowrap">13. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:290.3px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:687.13px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1107.33px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1307.46px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:1537.56px;white-space:nowrap">times </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2017.62px;white-space:nowrap">act </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2307.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2497.85px;white-space:nowrap">good </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:2948.29px;white-space:nowrap">faith </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3338.53px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:3688.86px;white-space:nowrap">agree </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:908.64px;left:4199.24px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:0px;white-space:nowrap">use </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:340.22px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:570.23px;white-space:nowrap">best </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:960.47px;letter-spacing:-0.41px;white-space:nowrap">efforts </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:1507.41px;white-space:nowrap">within </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2017.62px;white-space:nowrap">reasonable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:2958.31px;white-space:nowrap">limits </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3418.24px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:3618.37px;white-space:nowrap">ensure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1158.64px;left:4218.75px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:0px;white-space:nowrap">accuracy </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:770.27px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:970.4px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1200.5px;white-space:nowrap">services </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:1910.65px;white-space:nowrap">performed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:2781.04px;white-space:nowrap">under </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3291.42px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1408.64px;left:3611.6px;white-space:nowrap">Agreement </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:0px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:350.33px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:550.46px;white-space:nowrap">comply </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1170.62px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:1540.72px;white-space:nowrap">applicable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2401.35px;letter-spacing:-1.99px;white-space:nowrap">law, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:2761.52px;white-space:nowrap">but </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3061.76px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:3481.96px;white-space:nowrap">assume </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1658.64px;left:4162.24px;white-space:nowrap">no </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:0px;white-space:nowrap">responsibility </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1090.46px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1440.79px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:1861px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2161.23px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2411.46px;white-space:nowrap">liable </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:2881.76px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3141.83px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3511.93px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:3721.99px;white-space:nowrap">damage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:1908.64px;left:4422.48px;white-space:nowrap">due </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:200.13px;white-space:nowrap">errors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:720.18px;white-space:nowrap">unless </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1290.5px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:1720.72px;white-space:nowrap">error </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2150.77px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2330.77px;white-space:nowrap">caused </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:2961.21px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3191.4px;letter-spacing:-0.54px;white-space:nowrap">AST&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2158.64px;left:3718.21px;white-space:nowrap">negligence, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:0px;white-space:nowrap">bad </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:350.33px;white-space:nowrap">faith </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:740.57px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:950.63px;white-space:nowrap">willful </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:1440.7px;white-space:nowrap">misconduct </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2401.08px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2611.14px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:2961.39px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3161.51px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2408.64px;left:3391.52px;white-space:nowrap">employees.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:0px;white-space:nowrap">14. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:290.3px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:650.48px;white-space:nowrap">notice, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:1230.82px;white-space:nowrap">instruction, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2151.21px;white-space:nowrap">request </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:2801.6px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3011.66px;white-space:nowrap">election </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:3682.09px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:4192.29px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:2838.64px;left:4432.41px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:0px;white-space:nowrap">provision </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:770.36px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:970.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1270.72px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1681px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:1861px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2571.42px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:2781.47px;white-space:nowrap">permitted </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:3581.81px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:3781.93px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:4032.16px;white-space:nowrap">given </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3088.64px;left:4512.48px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:0px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:500.27px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:740.39px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1040.63px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:1921.11px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2111.31px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2508.13px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:2928.34px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:3178.56px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:3368.67px;white-space:nowrap">writing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3338.64px;left:3938.82px;white-space:nowrap">addressed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:190.2px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1000.46px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:1497.39px;letter-spacing:-0.74px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2210.89px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:2557.97px;letter-spacing:-1.11px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3011.31px;white-space:nowrap">Company </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:3831.68px;white-space:nowrap">LLC, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3588.64px;left:4261.9px;letter-spacing:-4.64px;white-space:nowrap">P.O. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:0px;white-space:nowrap">Box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:360.18px;white-space:nowrap">922, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:760.52px;letter-spacing:-1.34px;white-space:nowrap">Wall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1153.83px;white-space:nowrap">Street </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:1684.07px;white-space:nowrap">Station, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2344.48px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:2751.33px;letter-spacing:-2.75px;white-space:nowrap">York, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3204.93px;letter-spacing:-1.08px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:3501.74px;white-space:nowrap">10269-0560, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:3838.64px;left:4562.67px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:0px;text-rendering:optimizeLegibility;letter-spacing:-0.47px;white-space:nowrap">www.astfinancial.com </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1770.64px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:1980.7px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2410.93px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:2871.21px;white-space:nowrap">address </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3561.59px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:3791.78px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4088.64px;left:4188.6px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:0px;white-space:nowrap">furnish </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:590.27px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:790.4px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:1090.63px;white-space:nowrap">participant, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2021.13px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2371.46px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:2791.67px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3232px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:3682.44px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:4382.93px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4338.64px;left:4583.06px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:0px;white-space:nowrap">given </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:480.32px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:690.38px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1190.65px;white-space:nowrap">when </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:1670.98px;white-space:nowrap">received </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2401.35px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:4588.64px;left:2631.53px;letter-spacing:-4.99px;white-space:nowrap">AST.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:0px;white-space:nowrap">15. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:290.3px;white-space:nowrap">Any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:650.48px;white-space:nowrap">notice </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:1180.81px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:1390.87px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:1851.15px;white-space:nowrap">communication </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:3111.68px;white-space:nowrap">which </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:3621.88px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5018.64px;left:3862px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:0px;white-space:nowrap">provision </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:770.36px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:970.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:1270.72px;white-space:nowrap">Plan </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:1681px;white-space:nowrap">is </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:1861px;white-space:nowrap">required </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:2571.42px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:2771.54px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:3021.77px;white-space:nowrap">given </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:3502.09px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:3732.28px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:4129.1px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5268.64px;left:4329.23px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:0px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:880.49px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:1300.69px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:1550.92px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:1741.03px;white-space:nowrap">writing </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:2311.17px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:2661.5px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:3081.71px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:3331.93px;white-space:nowrap">deemed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:4032.42px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5518.64px;left:4232.55px;white-space:nowrap">have </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:0px;white-space:nowrap">been </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:450.44px;text-rendering:optimizeLegibility;white-space:nowrap">sufficiently </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:1340.77px;white-space:nowrap">given </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:1821.09px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:2081.16px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:2311.26px;white-space:nowrap">purposes </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:3101.75px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:3341.87px;white-space:nowrap">being </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:5768.64px;left:3832.29px;white-space:nowrap">deposited </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:0px;white-space:nowrap">postage </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:690.56px;white-space:nowrap">prepaid </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:1341.04px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:1531.14px;white-space:nowrap">a </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:1681.26px;white-space:nowrap">post </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:2071.49px;text-rendering:optimizeLegibility;white-space:nowrap">office </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:2551.73px;white-space:nowrap">letter </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:3001.9px;white-space:nowrap">box </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:3342.13px;white-space:nowrap">addressed </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:4232.72px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6018.64px;left:4432.85px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:0px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:880.49px;white-space:nowrap">at </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:1080.62px;white-space:nowrap">his </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:1360.72px;white-space:nowrap">or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:1570.78px;white-space:nowrap">her </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6268.64px;left:1880.95px;white-space:nowrap">address </div><div style="font-family:Arial, 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sans-serif;font-size:180px;position:absolute;top:6518.64px;left:526.82px;white-space:nowrap">records. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1223.79px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:1583.96px;white-space:nowrap">participant </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:2464.45px;white-space:nowrap">agrees </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:3064.83px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:3264.96px;white-space:nowrap">notify </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:3735.26px;letter-spacing:-0.81px;white-space:nowrap">AST </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6518.64px;left:4132.09px;white-space:nowrap">promptly </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:0px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:200.13px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:540.35px;white-space:nowrap">change </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:1180.9px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:6768.64px;left:1381.03px;white-space:nowrap">address.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:0px;white-space:nowrap">16. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:296.98px;white-space:nowrap">These </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:847.27px;white-space:nowrap">terms </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:1347.28px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:1697.61px;white-space:nowrap">conditions </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:2558.14px;white-space:nowrap">shall </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:2978.35px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7198.64px;left:3228.57px;white-space:nowrap">governed </div><div style="font-family:Arial, 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sans-serif;font-size:180px;position:absolute;top:7448.64px;left:2681.54px;white-space:nowrap">laws </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:3091.64px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:3291.77px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:3592px;white-space:nowrap">State </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:4062.3px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7448.64px;left:4262.43px;white-space:nowrap">New </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:0px;letter-spacing:-3.3px;white-space:nowrap">York </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:403.59px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:753.93px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:1054.16px;white-space:nowrap">rules </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:1494.32px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:1844.65px;white-space:nowrap">regulations </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:2775.23px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:2975.36px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:3275.6px;white-space:nowrap">U.S. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:3675.67px;white-space:nowrap">Securities </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7698.64px;left:4516px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:0px;white-space:nowrap">Exchange </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:850.61px;white-space:nowrap">Commission, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:1940.8px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:2180.92px;white-space:nowrap">they </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:2571.15px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:2961.21px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:3211.44px;white-space:nowrap">amended </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:4012.03px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:7948.64px;left:4422.04px;white-space:nowrap">time </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:0px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8198.64px;left:200.13px;white-space:nowrap">time.</div></div>
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			<div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:0px;white-space:nowrap">&#169; </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:121.76px;white-space:nowrap">2021 </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:422.05px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:880.02px;letter-spacing:-1.33px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:1467.01px;white-space:nowrap">Investments. </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:2174px;white-space:nowrap">All </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:2340.7px;white-space:nowrap">rights </div><div style="font-family:Arial, sans-serif;font-size:120px;position:absolute;top:-14.24px;left:2667.48px;white-space:nowrap">reserved.</div></div>
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)"></div>
					</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:0px;white-space:nowrap">Investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:780.29px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:1360.72px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:1610.95px;white-space:nowrap">aware </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:2151.21px;white-space:nowrap">that </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:2501.46px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:2801.69px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:3282.01px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:3482.14px;white-space:nowrap">investments </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:4492.53px;white-space:nowrap">made </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:4992.8px;white-space:nowrap">for </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:5252.87px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:5553.11px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:6013.39px;white-space:nowrap">may </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:6403.45px;white-space:nowrap">go </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:6653.67px;white-space:nowrap">down </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:7133.99px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:7374.11px;white-space:nowrap">well </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:7734.2px;white-space:nowrap">as </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:7974.32px;white-space:nowrap">up. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:8274.55px;white-space:nowrap">Like </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:8654.77px;white-space:nowrap">any </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:8994.99px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8438.28px;left:9915.38px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:0px;white-space:nowrap">securities, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:860.27px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:1160.51px;white-space:nowrap">value </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:1640.83px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:1840.96px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:2141.19px;letter-spacing:-0.46px;white-space:nowrap">Fund&#8217;s </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:2728.21px;white-space:nowrap">portfolio </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:3418.59px;white-space:nowrap">will </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:3718.56px;white-space:nowrap">be </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:3968.79px;white-space:nowrap">subject </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:4589.12px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:4789.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:5089.48px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:5419.42px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:5619.55px;white-space:nowrap">loss </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:5989.66px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:6399.67px;white-space:nowrap">market, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:7049.79px;letter-spacing:-1.34px;white-space:nowrap">currency, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:7826.66px;white-space:nowrap">economic, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:8697.04px;white-space:nowrap">political </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:9347.34px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8658.28px;left:9697.68px;white-space:nowrap">other </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:0px;white-space:nowrap">factors. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:636.94px;white-space:nowrap">The </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:997.12px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:1457.4px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:1807.73px;white-space:nowrap">its </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:2037.74px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:2808.02px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:3118.18px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:3418.42px;white-space:nowrap">protected </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:4218.93px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:4628.94px;white-space:nowrap">such </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:5059.16px;white-space:nowrap">losses </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:5619.38px;white-space:nowrap">by </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:5859.49px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:6159.73px;white-space:nowrap">investment </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:7080.12px;letter-spacing:-1.1px;white-space:nowrap">manager. </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:7877.37px;white-space:nowrap">Therefore, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:8757.77px;white-space:nowrap">investors </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:8878.28px;left:9528.05px;white-space:nowrap">who </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9098.28px;left:0px;white-space:nowrap">cannot </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9098.28px;left:590.45px;white-space:nowrap">accept </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9098.28px;left:1170.79px;white-space:nowrap">this </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9098.28px;left:1500.91px;white-space:nowrap">risk </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9098.28px;left:1830.85px;white-space:nowrap">should </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9098.28px;left:2411.28px;white-space:nowrap">not </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9098.28px;left:2711.51px;white-space:nowrap">invest </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9098.28px;left:3231.74px;white-space:nowrap">in </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9098.28px;left:3421.85px;white-space:nowrap">shares </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9098.28px;left:4012.12px;white-space:nowrap">of </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9098.28px;left:4212.25px;white-space:nowrap">the </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9098.28px;left:4512.48px;white-space:nowrap">Fund.</div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:0px;letter-spacing:-6.65px;white-space:nowrap">To </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:240.12px;white-space:nowrap">help </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:630.44px;white-space:nowrap">ensure </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:1230.82px;white-space:nowrap">we </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:1510.93px;white-space:nowrap">provide </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:2151.3px;white-space:nowrap">you </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:2491.52px;white-space:nowrap">with </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:2861.63px;white-space:nowrap">quality </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:3431.95px;white-space:nowrap">service, </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:4102.12px;white-space:nowrap">all </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:4332.22px;white-space:nowrap">calls </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:4742.31px;white-space:nowrap">to </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:4942.44px;white-space:nowrap">and </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:5292.77px;white-space:nowrap">from </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:5702.78px;white-space:nowrap">our </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:6012.95px;white-space:nowrap">service </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:6633.11px;white-space:nowrap">areas </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:7133.38px;white-space:nowrap">are </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:7443.54px;white-space:nowrap">monitored </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:8293.97px;white-space:nowrap">and/or </div><div style="font-family:Arial, sans-serif;font-size:180px;position:absolute;top:9498.28px;left:8854.37px;white-space:nowrap">recorded.</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10224.46px;left:3210px;white-space:nowrap">Annual </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10224.46px;left:3796.64px;white-space:nowrap">Report</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10427.35px;left:3210px;letter-spacing:-1.19px;white-space:nowrap">Templeton </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10427.35px;left:4051.48px;white-space:nowrap">Global </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10427.35px;left:4593.75px;white-space:nowrap">Income </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10427.35px;left:5198.36px;white-space:nowrap">Fund</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10804px;left:3210px;white-space:nowrap">Investment </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10804px;left:4099.14px;white-space:nowrap">Manager</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10804px;left:5350px;letter-spacing:-0.98px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10804px;left:6019.92px;white-space:nowrap">Agent</div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10804px;left:9430px;white-space:nowrap">Fund </div><div style="font-family:Arial, sans-serif;font-size:160px;font-weight:bold;position:absolute;top:10804px;left:9865.39px;white-space:nowrap">Information</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:3210px;white-space:nowrap">Franklin </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:3814.69px;white-space:nowrap">Advisers, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:4517.11px;white-space:nowrap">Inc.</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:5350px;white-space:nowrap">American </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:6070.23px;white-space:nowrap">Stock </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:6511.95px;letter-spacing:-0.66px;white-space:nowrap">Transfer </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:7146.17px;white-space:nowrap">&amp; </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:7294.45px;letter-spacing:-0.99px;white-space:nowrap">Trust </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:7697.42px;white-space:nowrap">Co., </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:8035.31px;white-space:nowrap">LLC</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11198.88px;left:5350px;white-space:nowrap">6201 </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11198.88px;left:5750.39px;white-space:nowrap">15th </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11198.88px;left:6097.42px;letter-spacing:-0.48px;white-space:nowrap">Avenue</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11390.88px;left:5350px;white-space:nowrap">Brooklyn, </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11390.88px;left:6061.41px;letter-spacing:-0.96px;white-space:nowrap">NY </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11390.88px;left:6325.23px;letter-spacing:-2.37px;white-space:nowrap">11219</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:5350px;letter-spacing:-3.55px;white-space:nowrap">Toll </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:5634.53px;white-space:nowrap">Free </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:6007.97px;white-space:nowrap">Number: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:6665.94px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11582.88px;left:7083.91px;white-space:nowrap">416-5585</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:5350px;white-space:nowrap">Hearing </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:5954.77px;white-space:nowrap">Impaired </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:6621.72px;white-space:nowrap">Number: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:7279.69px;white-space:nowrap">(866) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11774.88px;left:7697.66px;white-space:nowrap">703-9077</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11966.88px;left:5350px;white-space:nowrap">International </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11966.88px;left:6275.08px;white-space:nowrap">Phone </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11966.88px;left:6782.19px;white-space:nowrap">Number: </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11966.88px;left:7440.16px;white-space:nowrap">(718) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11966.88px;left:7858.13px;white-space:nowrap">921-8124</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:12158.88px;left:5350px;text-rendering:optimizeLegibility;letter-spacing:-0.44px;white-space:nowrap">www.astfinancial.com</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:9430px;white-space:nowrap">(800) </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:9847.97px;letter-spacing:-1.19px;white-space:nowrap">DIAL </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:10242.19px;white-space:nowrap">BEN</div><div style="font-family:Arial, sans-serif;font-size:93.3px;position:absolute;top:11010.09px;left:10571.17px;white-space:nowrap">&#174;</div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11006.88px;left:10684.36px;white-space:nowrap">/ </div><div style="font-family:Arial, sans-serif;font-size:160px;position:absolute;top:11198.88px;left:9430px;white-space:nowrap">342-5236</div></div>
		</div>


</div></div><div style="position: relative;page: WordSection1">

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 2. Code of Ethics.&#160; </div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-indent: -27.0pt;margin-right: 0in;margin-left: 27.0pt;margin-top: 0in;margin-bottom: .0001pt">(a) The
Registrant has adopted a code of ethics that applies to its principal executive
officers and principal financial and accounting officer.</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">(c) N/A</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">(d) N/A</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-indent: -22.5pt;margin-right: 0in;margin-left: 22.5pt;margin-top: 0in;margin-bottom: .0001pt">(f)<b> </b>Pursuant
to Item 13(a)(1), the Registrant is attaching as an exhibit a copy of its code
of ethics that applies to its principal executive officers and principal
financial and accounting officer.</div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 3. Audit Committee
Financial Expert. </div></b></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-indent: -40.5pt;margin-right: 0in;margin-left: 40.5pt;margin-top: 0in;margin-bottom: .0001pt">(a)(1) The
Registrant has an audit committee financial expert serving on its audit
committee.</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-indent: -27.0pt;margin-right: 0in;margin-left: 45.0pt;margin-top: 0in;margin-bottom: .0001pt">(2) The
audit committee financial experts are Ann Torre Bates and &#160;David W. Niemiec and
they are "independent" as defined under the relevant Securities and
Exchange Commission Rules and Releases.</div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="mso-style-name: term1;font-weight: bold;display: inline;"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="mso-style-name: term1;font-weight: bold;display: inline;"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="mso-style-name: term1;font-weight: bold;display: inline;"><div style="font-size: 10.0pt;display: inline;">Item 4.</div></div><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;"> Principal Accountant Fees
and Services.&#160; </div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(a)&#160;&#160;&#160;&#160;&#160; Audit Fees</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">The aggregate fees paid to
the principal accountant for professional services rendered by the principal
accountant for the audit of the registrant&#8217;s annual financial statements or for
services that are normally provided by the principal accountant in connection
with statutory and regulatory filings or engagements were $60,464 for the
fiscal year ended December 31, 2020 and $60,466 for
the fiscal year ended December 31, 2019.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(b)&#160;&#160;&#160;&#160;&#160; Audit-Related Fees</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">There were no fees paid to
the principal accountant for assurance and related services rendered by the
principal accountant to the registrant that are reasonably related to the
performance of the audit of the registrant's financial statements and are not
reported under paragraph (a) of Item 4.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">There were no fees paid to
the principal accountant for assurance and related services rendered by the
principal accountant to the registrant's investment adviser and any entity
controlling, controlled by or under common control with the investment adviser
that provides ongoing services to the registrant that are reasonably related to
the performance of the audit of their financial statements.&#160; </div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(c)&#160;&#160;&#160;&#160;&#160; Tax Fees</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">There were no fees paid to
the principal accountant for professional services rendered by the principal
accountant to the registrant for tax compliance, tax advice and tax planning.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">The aggregate fees paid to
the principal accountant for professional services rendered by the principal
accountant to the registrant&#8217;s investment adviser and any entity controlling,
controlled by or under common control with the investment adviser that provides
ongoing services to the registrant for tax compliance, tax advice and tax
planning were $0 for the fiscal year ended December 31, 2020 and $20,000 for
the fiscal year ended December 31, 2019.&#160; The services for which these fees
were paid included professional fees in connection with tax treatment of
equipment lease transactions and professional fees in connection with an
Indonesia withholding tax refund claim.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(d)&#160;&#160;&#160;&#160;&#160; All Other Fees</div></div>

<pre style="mso-style-link: &quot;HTML Preformatted Char&quot;;font-size: 10.0pt;font-family: &quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Courier New&quot;;display: inline;">The aggregate fees paid to the principal accountant for products and services rendered by the principal accountant to the registrant not reported in paragraphs (a)-(c) of Item 4 were $0 for the fiscal year ended December 31, 2020 and $366 for the fiscal year ended December 31, 2019.&#160; The services for which these fees were paid included review of materials provided to the fund Board in connection with the investment management contract renewal process. </div></pre><pre style="mso-style-link: &quot;HTML Preformatted Char&quot;;font-size: 10.0pt;font-family: &quot;Arial Unicode MS&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></pre>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">The aggregate fees paid to
the principal accountant for products and services rendered by the principal
accountant to the registrant&#8217;s investment adviser and any entity controlling,
controlled by or under common control with the investment adviser that provides
ongoing services to the registrant not reported in paragraphs (a)-(c) of Item 4
were $49,800 for the fiscal year ended December 31, 2020 and $145,644 for the
fiscal year ended December 31, 2019.&#160; The services for which these fees were
paid included valuation Services related to Fair Value engagement, issuance of
an Auditors' Certificate for South Korean regulatory shareholder disclosures,
professional fees in connection with determining the feasibility of a U.S.
direct lending structure, and assets under management certification.&#160; </div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(e) (1) The registrant&#8217;s
audit committee is directly responsible for approving the services to be
provided by the auditors, including:</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160;&#160;&#160;&#160; (i)&#160;&#160; pre-approval of
all audit and audit related services;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160;&#160;&#160;&#160; (ii)&#160; pre-approval of
all non-audit related services to be provided to the Fund by the auditors;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160;&#160;&#160;&#160; (iii) pre-approval of
all non-audit related services to be provided to the registrant by the auditors
to the registrant&#8217;s investment adviser or to any entity that controls, is
controlled by or is under common control with the registrant&#8217;s investment
adviser and that provides ongoing services to the registrant where the
non-audit services relate directly to the operations or financial reporting of
the registrant; and</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160;&#160;&#160;&#160; (iv)&#160; establishment by
the audit committee, if deemed necessary or appropriate, as an alternative to
committee pre-approval of services to be provided by the auditors, as required
by paragraphs (ii) and (iii) above, of policies and procedures to permit such
services to be pre-approved by other means, such as through establishment of
guidelines or by action of a designated member or members of the committee;
provided the policies and procedures are detailed as to the particular service
and the committee is informed of each service and such policies and procedures
do not include delegation of audit committee responsibilities, as contemplated
under the Securities Exchange Act of 1934, to management; subject, in the case
of (ii) through (iv), to any waivers, exceptions or exemptions that may be
available under applicable law or rules.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(e) (2) None of the services
provided to the registrant described in paragraphs (b)-(d) of Item 4 were
approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01
of regulation S-X.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(f) No disclosures are
required by this Item 4(f).</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(g) The aggregate non-audit
fees paid to the principal accountant for services rendered by the principal
accountant to the registrant and the registrant&#8217;s investment adviser and any
entity controlling, controlled by or under common control with the investment
adviser that provides ongoing services to the registrant were $49,800 for the
fiscal year ended December 31, 2020 and $166,010 for the fiscal year ended
December 31, 2019.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(h) The registrant&#8217;s audit
committee of the board has considered whether the provision of non-audit
services that were rendered to the registrant&#8217;s investment adviser (not
including any sub-adviser whose role is primarily portfolio management and is
subcontracted with or overseen by another investment adviser), and any entity
controlling, controlled by, or under common control with the investment adviser
that provides ongoing services to the registrant that were not pre-approved
pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible
with maintaining the principal accountant&#8217;s independence.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;font-weight: normal;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;font-weight: normal;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;font-weight: normal;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160; </div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">Item
5. Audit Committee</div></strong><div style="font-size: 10.0pt;display: inline;"> <strong><div style="font-family: &quot;Courier New&quot;;display: inline;">of Listed Registrants</div></strong></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-family: &quot;Courier New&quot;;font-weight: normal;display: inline;">Members of the Audit Committee are:&#160; David W. Niemiec, Ann
Torre Bates and Constantine D. Tseretopoulos.</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">Item
6. Schedule of Investments.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div></strong><b><div style="font-size: 10.0pt;display: inline;">N/A</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></strong></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><strong><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">Item
7</div></strong><div style="font-size: 10.0pt;display: inline;">. <b>Disclosure of Proxy Voting
Policies and Procedures for Closed-End Management Investment Companies. </b></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">The board of trustees of the
Fund has delegated the authority to vote proxies related to the portfolio
securities held by the Fund to the Fund&#8217;s investment manager Franklin Advisers,
Inc. in accordance with the Proxy Voting Policies and Procedures (Policies)
adopted by the investment manager.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">The
investment manager has delegated its administrative duties with respect to the
voting of proxies for securities to the Proxy Group within Franklin Templeton
Companies, LLC (Proxy Group), an affiliate and wholly owned subsidiary of
Franklin Resources, Inc. All proxies received by the Proxy Group will be voted
based upon the investment manager&#8217;s instructions and/or policies. The
investment manager votes proxies solely in the best interests of the Fund and
its shareholders.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">To
assist it in analyzing proxies of equity securities, the investment manager
subscribes to Institutional Shareholder Services, Inc. (ISS), an unaffiliated
third-party corporate governance research service that provides in-depth
analyses of shareholder meeting agendas, vote recommendations, vote execution
services, ballot reconciliation services, recordkeeping and vote disclosure
services. In addition, the investment manager subscribes to Glass, Lewis &amp;
Co., LLC (Glass Lewis), an unaffiliated third-party analytical research firm,
to receive analyses and vote recommendations on the shareholder meetings of
publicly held U.S. companies, as well as a limited subscription to its
international research. Also, the investment manager has a supplemental
subscription to Egan-Jones Proxy Services (Egan-Jones), an unaffiliated third
party proxy advisory firm, to receive analyses and vote recommendations.
Although analyses provided by ISS, Glass Lewis, Egan-Jones, and/or another
independent third party proxy service provider (each a "Proxy
Service") are thoroughly reviewed and considered in making a final voting
decision, the investment manager does not consider recommendations from a Proxy
Service or any third party to be determinative of the investment manager's
ultimate decision. Rather, the investment manager exercises its independent
judgment in making voting decisions. For most proxy proposals, the investment
manager&#8217;s evaluation should result in the same position being taken for all
Funds. In some cases, however, the evaluation may result in a Fund voting
differently, depending upon the nature and objective of the Fund, the composition
of its portfolio and other factors. As a matter of policy, the officers,
directors/trustees and employees of the investment manager and the Proxy Group
will not be influenced by outside sources whose interests conflict with the
interests of the Fund and its shareholders. Efforts are made to resolve all
conflicts in the best interests of the investment manager&#8217;s clients. Material
conflicts of interest are identified by the Proxy Group based upon analyses of
client, distributor, broker-dealer and vendor lists, information periodically
gathered from directors and officers, and information derived from other
sources, including public filings. In situations where a material conflict of
interest is identified, the Proxy Group may vote consistent with the voting recommendation
of a Proxy Service; or send the proxy directly to the Fund's board or a
committee of the board with the investment manager's recommendation regarding
the vote for approval.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Where a
material conflict of interest has been identified, but the items on which the
investment manager&#8217;s vote recommendations differ from a Proxy Service and
relate specifically to (1) shareholder proposals regarding social or
environmental issues, (2) &#8220;Other Business&#8221; without describing the matters that
might be considered, or (3) items the investment manager wishes to vote in
opposition to the recommendations of an issuer&#8217;s management, the Proxy Group
may defer to the vote recommendations of the investment manager rather than
sending the proxy directly to the Fund's board or a board committee for
approval.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">To
avoid certain potential conflicts of interest, the investment manager will
employ echo voting or pass-through voting, if possible, in the following
instances: (1) when the Fund invests in an underlying fund in reliance on any
one of Sections 12(d)(1)(F) or (G) of the 1940 Act, the rules thereunder, or
pursuant to a SEC exemptive order thereunder; (2) when the Fund invests
uninvested cash in affiliated money market funds pursuant to the rules under
the 1940 Act or any exemptive orders thereunder (&#8220;cash sweep arrangement&#8221;); or
(3) when required pursuant to the Fund&#8217;s governing documents or applicable law.
Echo voting means that the investment manager will vote the shares in the same
proportion as the vote of all of the other holders of the underlying fund's
shares. With respect to instances when a Franklin Templeton U.S. registered
investment company invests in an underlying fund in reliance on any one of
Sections 12(d)(1)(F) or (G) of the 1940 Act, the rules thereunder, or pursuant
to an SEC exemptive order thereunder, and there are no other unaffiliated
shareholders also invested in the underlying fund, the investment manager will
vote in accordance with the recommendation of such investment company&#8217;s board
of trustees or directors. In addition, to avoid certain potential conflicts of
interest, and where required under a fund&#8217;s governing documents or applicable
law, the investment manager will employ pass-through voting when a Franklin
Templeton U.S. registered investment company invests in an underlying fund in
reliance on Section 12(d)(1)(E) of the 1940 Act, the rules thereunder, or
pursuant to an SEC exemptive order thereunder. In &#8220;pass-through voting,&#8221; a
feeder fund will solicit voting instructions from its shareholders as to how to
vote on the master fund&#8217;s proposals.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">The
recommendation of management on any issue is a factor that the investment
manager considers in determining how proxies should be voted. However, the
investment manager does not consider recommendations from management to be
determinative of the investment manager&#8217;s ultimate decision. As a matter of
practice, the votes with respect to most issues are cast in accordance with the
position of the company's management. Each issue, however, is considered on its
own merits, and the investment manager will not support the position of the
company's management in any situation where it deems that the ratification of
management&#8217;s position would adversely affect the investment merits of owning
that company&#8217;s shares.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Engagement
with issuers.</div></i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">
The investment manager believes that engagement with issuers is important to
good corporate governance and to assist in making proxy voting decisions. The
investment manager may engage with issuers to discuss specific ballot items to
be voted on in advance of an annual or special meeting to obtain further
information or clarification on the proposals. The investment manager may also
engage with management on a range of environmental, social or corporate
governance issues throughout the year.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Investment
manager&#8217;s proxy voting policies and principles</div></b><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">. The investment manager has
adopted general proxy voting guidelines, which are summarized below. These
guidelines are not an exhaustive list of all the issues that may arise and the
investment manager cannot anticipate all future situations. In all cases, each
proxy and proposal (including both management and shareholder proposals) will
be considered based on the relevant facts and circumstances on a case-by-case
basis.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Board
of directors.</div></i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">
The investment manager supports an independent, diverse board of directors, and
prefers that key committees such as audit, nominating, and compensation
committees be comprised of independent directors. The investment manager
supports boards with strong risk management oversight. The investment manager
will generally vote against management efforts to classify a board and will
generally support proposals to declassify the board of directors. The
investment manager will consider withholding votes from directors who have
attended less than 75% of meetings without a valid reason. While generally in
favor of separating Chairman and CEO positions, the investment manager will
review this issue as well as proposals to restore or provide for cumulative
voting on a case-by-case basis, taking into consideration factors such as the
company&#8217;s corporate governance guidelines or provisions and performance. The
investment manager generally will support non-binding shareholder proposals to
require a majority vote standard for the election of directors; however, if
these proposals are binding, the investment manager will give careful review on
a case-by-case basis of the potential ramifications of such implementation.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">In the
event of a contested election, the investment manager will review a number of
factors in making a decision including management&#8217;s track record, the company&#8217;s
financial performance, qualifications of candidates on both slates, and the
strategic plan of the dissidents and/or shareholder nominees.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Ratification
of auditors of portfolio companies.</div></i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;"> The investment manager will closely scrutinize the
independence, role and performance of auditors. On a case-by-case basis, the
investment manager will examine proposals relating to non-audit relationships
and non-audit fees. The investment manager will also consider, on a
case-by-case basis, proposals to rotate auditors, and will vote against the
ratification of auditors when there is clear and compelling evidence of a lack
of independence, accounting irregularities or negligence. The investment
manager may also consider whether the ratification of auditors has been
approved by an appropriate audit committee that meets applicable composition
and independence requirements.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Management
and director compensation.</div></i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;"> A company&#8217;s equity-based compensation plan should be in alignment with
the shareholders&#8217; long-term interests. The investment manager believes that
executive compensation should be directly linked to the performance of the
company. The investment manager evaluates plans on a case-by-case basis by
considering several factors to determine whether the plan is fair and
reasonable, including the ISS quantitative model utilized to assess such plans
and/or the Glass Lewis evaluation of the plans. The investment manager will generally
oppose plans that have the potential to be excessively dilutive, and will
almost always oppose plans that are structured to allow the repricing of
underwater options, or plans that have an automatic share replenishment
&#8220;evergreen&#8221; feature. The investment manager will generally support employee
stock option plans in which the purchase price is at least 85% of fair market
value, and when potential dilution is 10% or less.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Severance
compensation arrangements will be reviewed on a case-by-case basis, although
the investment manager will generally oppose &#8220;golden parachutes&#8221; that are
considered to be excessive. The investment manager will normally support
proposals that require a percentage of directors&#8217; compensation to be in the
form of common stock, as it aligns their interests with those of shareholders.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">The
investment manager will review non-binding say-on-pay proposals on a
case-by-case basis, and will generally vote in favor of such proposals unless
compensation is misaligned with performance and/or shareholders&#8217; interests, the
company has not provided reasonably clear disclosure regarding its compensation
practices, or there are concerns with the company&#8217;s remuneration practices.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Anti-takeover
mechanisms and related issues.</div></i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;"> The investment manager generally opposes anti-takeover
measures since they tend to reduce shareholder rights. However, as with all
proxy issues, the investment manager conducts an independent review of each
anti-takeover proposal. On occasion, the investment manager may vote with management
when the research analyst has concluded that the proposal is not onerous and
would not harm the Fund or its shareholders&#8217; interests. The investment manager
generally supports proposals that require shareholder rights&#8217; plans (&#8220;poison
pills&#8221;) to be subject to a shareholder vote and will closely evaluate such
plans on a case-by-case basis to determine whether or not they warrant support.
In addition, the investment manager will generally vote against any proposal to
issue stock that has unequal or subordinate voting rights. The investment
manager generally opposes any supermajority voting requirements as well as the
payment of &#8220;greenmail.&#8221; The investment manager generally supports &#8220;fair price&#8221;
provisions and confidential voting. The investment manager will review a
company&#8217;s proposal to reincorporate to a different state or country on a
case-by-case basis taking into consideration financial benefits such as tax
treatment as well as comparing corporate governance provisions and general
business laws that may result from the change in domicile.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Changes
to capital structure.</div></i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;"> The investment manager realizes that a company's financing decisions
have a significant impact on its shareholders, particularly when they involve
the issuance of additional shares of common or preferred stock or the
assumption of additional debt. The investment manager will review, on a
case-by-case basis, proposals by companies to increase authorized shares and
the purpose for the increase. The investment manager will generally not vote in
favor of dual-class capital structures to increase the number of authorized
shares where that class of stock would have superior voting rights. The
investment manager will generally vote in favor of the issuance of preferred
stock in cases where the company specifies the voting, dividend, conversion and
other rights of such stock and the terms of the preferred stock issuance are
deemed reasonable. The investment manager will review proposals seeking
preemptive rights on a case-by-case basis.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Mergers
and corporate restructuring.</div></i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;"> Mergers and acquisitions will be subject to careful
review by the research analyst to determine whether they would be beneficial to
shareholders. The investment manager will analyze various economic and
strategic factors in making the final decision on a merger or acquisition.
Corporate restructuring proposals are also subject to a thorough examination on
a case-by-case basis.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Environmental
and social issues.</div></i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;"> The investment manager considers environmental and social issues alongside
traditional financial measures to provide a more comprehensive view of the
value, risk and return potential of an investment. Companies may face
significant financial, legal and reputational risks resulting from poor
environmental and social practices, or negligent oversight of environmental or
social issues. Franklin Templeton&#8217;s &#8220;Responsible Investment Principles and
Policies&#8221; describes the investment manager&#8217;s approach to consideration of
environmental, social and governance issues within the investment manager&#8217;s
processes and ownership practices.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">The
investment manager will review shareholder proposals on a case-by-case basis
and may support those that serve to enhance value or mitigate risk, are drafted
appropriately, and do not disrupt the course of business or require a
disproportionate or inappropriate use of company resources. In the investment
manager&#8217;s experience, those companies that are managed well are often effective
in dealing with the relevant environmental and social issues that pertain to
their business. As such, the investment manager will generally give management
discretion with regard to environmental and social issues. However, in cases
where management and the board have not demonstrated adequate efforts to
mitigate material environmental or social risks, have engaged in inappropriate
or illegal conduct, or have failed to adequately address current or emergent
risks that threaten shareholder value, the investment manager may choose to
support well-crafted shareholder proposals that serve to promote or protect
shareholder value. This may include seeking appropriate disclosure regarding
material environmental and social issues.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">The
investment manager will consider supporting a shareholder proposal seeking
disclosure and greater board oversight of lobbying and corporate political
contributions if the investment manager believes that there is evidence of
inadequate oversight by the company&#8217;s board, if the company&#8217;s current
disclosure is significantly deficient, or if the disclosure is notably lacking
in comparison to the company&#8217;s peers.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Governance
matters.</div></i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;"> The
investment manager generally supports the right of shareholders to call special
meetings and act by written consent. However, the investment manager will
review such shareholder proposals on a case-by-case basis in an effort to
ensure that such proposals do not disrupt the course of business or require a
disproportionate or inappropriate use of company resources.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Proxy
access.</div></i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;"> In
cases where the investment manager is satisfied with company performance and
the responsiveness of management, it will generally vote against shareholder
proxy access proposals not supported by management. In other instances, the
investment manager will consider such proposals on a case-by-case basis, taking
into account factors such as the size of the company, ownership thresholds and
holding periods, nomination limits (e.g., number of candidates that can be
nominated), the intentions of the shareholder proponent, and shareholder base.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Global
corporate governance.</div></i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;"> Many of the tenets discussed above are applied to the investment
manager's proxy voting decisions for international investments. However, the
investment manager must be flexible in these worldwide markets. Principles of
good corporate governance may vary by country, given the constraints of a
country&#8217;s laws and acceptable practices in the markets. As a result, it is on
occasion difficult to apply a consistent set of governance practices to all
issuers. As experienced money managers, the investment manager's analysts are
skilled in understanding the complexities of the regions in which they
specialize and are trained to analyze proxy issues germane to their regions.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">The
investment manager will generally attempt to process every proxy it receives
for all domestic and foreign securities. However, there may be situations in
which the investment manager may be unable to successfully vote a proxy, or may
choose not to vote a proxy, such as where: (i) a proxy ballot was not received
from the custodian bank; (ii) a meeting notice was received too late; (iii)
there are fees imposed upon the exercise of a vote and it is determined that
such fees outweigh the benefit of voting; (iv) there are legal encumbrances to
voting, including blocking restrictions in certain markets that preclude the
ability to dispose of a security if the investment manager votes a proxy or
where the investment manager is prohibited from voting by applicable law,
economic or other sanctions, or other regulatory or market requirements, including
but not limited to, effective Powers of Attorney; (v) additional documentation
or the disclosure of beneficial owner details is required; (vi) the investment
manager held shares on the record date but has sold them prior to the meeting
date; (vii) a proxy voting service is not offered by the custodian in the
market; (viii) due to either system error or human error, the investment
manager&#8217;s intended vote is not correctly submitted; (ix) the investment manager
believes it is not in the best interest of the Fund or its shareholders to vote
the proxy for any other reason not enumerated herein; or (x) a security is
subject to a securities lending or similar program that has transferred legal
title to the security to another person.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">In some
non-U.S. jurisdictions, even if the investment manager uses reasonable efforts
to vote a proxy on behalf of the Fund, such vote or proxy may be rejected
because of (a) operational or procedural issues experienced by one or more
third parties involved in voting proxies in such jurisdictions; (b) changes in
the process or agenda for the meeting by the issuer for which the investment
manager does not have sufficient notice; or (c) the exercise by the issuer of
its discretion to reject the vote of the investment manager. In addition,
despite the best efforts of the Proxy Group and its agents, there may be
situations where the investment manager's votes are not received, or properly
tabulated, by an issuer or the issuer's agent.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">The
investment manager or its affiliates may, on behalf of one or more of the
proprietary registered investment companies advised by the investment manager
or its affiliates, determine to use its best efforts to recall any security on
loan where the investment manager or its affiliates (a) learn of a vote on a
material event that may affect a security on loan and (b) determine that it is
in the best interests of such proprietary registered investment companies to
recall the security for voting purposes.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Procedures
for meetings involving fixed income securities &amp; privately held issuers.</div></i><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;"> From time to time, certain
custodians may process events for fixed income securities through their proxy
voting channels rather than corporate action channels for administrative
convenience. In such cases, the Proxy Group will receive ballots for such
events on the ISS voting platform. The Proxy Group will solicit voting
instructions from the investment manager for each Fund involved. If the Proxy
Group does not receive voting instructions from the investment manager, the
Proxy Group will take no action on the event. The investment manager may be
unable to vote a proxy for a fixed income security, or may choose not to vote a
proxy, for the reasons described above.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">In the
rare instance where there is a vote for a privately held issuer, the decision
will generally be made by the relevant portfolio managers or research analysts.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">The
Proxy Group will monitor such meetings involving fixed income securities or
privately held issuers for conflicts of interest in accordance with these procedures.
If a fixed income or privately held issuer is flagged as a potential conflict
of interest, the investment manager may nonetheless vote as it deems in the
best interests of the Fund. The investment manager will report such decisions
on an annual basis to the Fund board as may be required.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">Shareholders
may view the complete Policies online at franklintempleton.com. Alternatively,
shareholders may request copies of the Policies free of charge by calling the
Proxy Group collect at (954) 527-7678 or by sending a written request to:
Franklin Templeton Companies, LLC, 300 S.E. 2nd Street, Fort Lauderdale, FL
33301-1923, Attention: Proxy Group. Copies of the Fund&#8217;s proxy voting records
are available online at franklintempleton.com and posted on the SEC website at
www.sec.gov. The proxy voting records are updated each year by August 31 to
reflect the most recent 12-month period ended June 30.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;layout-grid-mode: both;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 8. Portfolio Managers
of Closed-End Management Investment Companies.</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(a)(1)&#160; As of February 26,
2021, the portfolio managers of the Fund are as follows:</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">MICHAEL HASENSTAB,</div></b><div style="font-size: 10.0pt;display: inline;"> <b>Ph.D.</b>, <i>Executive Vice President of Franklin
Advisers, Inc.</i></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Dr. Hasenstab has been a
portfolio manager of the Fund since 2002.&#160; He </div><div style="font-size: 10.0pt;display: inline;">has final authority over all aspects of the Fund's investment portfolio,
including but not limited to, purchases and sales of individual securities,
portfolio risk assessment, and the management of daily cash balances in
accordance with anticipated management requirements. The degree to which he may
perform these functions, and the nature of these functions, may change from
time to time.</div> <div style="font-size: 10.0pt;display: inline;">&#160;He first joined Franklin
Templeton in 1995, rejoining again in 2001 after a three-year leave to obtain
his PH.D.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Calvin Ho, Ph.D., </div></b><div style="font-size: 10.0pt;display: inline;">Senior Vice President<i> of Franklin Advisers</i></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Dr. Ho has been a portfolio
manager of the Fund since December 2018. He provides </div><div lang="EN-AU" style="font-size: 10.0pt;display: inline;">research and advice on the purchases and sales of
individual securities and portfolio risk assessment. He joined Franklin
Templeton in 2005.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(a)(2)&#160; This section reflects
information about the portfolio managers as of the fiscal year ended December
31, 2020.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">The following table shows the
number of other accounts managed by each portfolio manager and the total assets
in the accounts managed within each category:</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<table border="1" cellspacing="0" cellpadding="0" width="640" style="border-collapse: collapse;border: none">
 <tr style="height: 107.5pt">
  <td width="86" valign="top" style="width: 64.2pt;border: solid windowtext 1.0pt;background: #A6A6A6;padding: 0in 5.4pt 0in 5.4pt;height: 107.5pt">
  <div style="font-size: 10.0pt;font-family: &quot;New York&quot;,&quot;serif&quot;;mso-style-name: &quot;TOC\.Text&quot;;line-height: normal;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></div>
  <div style="font-size: 10.0pt;font-family: &quot;New York&quot;,&quot;serif&quot;;mso-style-name: &quot;TOC\.Text&quot;;line-height: normal;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></div>
  <div style="font-size: 10.0pt;font-family: &quot;New York&quot;,&quot;serif&quot;;mso-style-name: &quot;TOC\.Text&quot;;line-height: normal;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></div>
  <div style="font-size: 10.0pt;font-family: &quot;New York&quot;,&quot;serif&quot;;mso-style-name: &quot;TOC\.Text&quot;;line-height: normal;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></div>
  <div style="font-size: 10.0pt;font-family: &quot;New York&quot;,&quot;serif&quot;;mso-style-name: &quot;TOC\.Text&quot;;line-height: normal;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></div>
  <div style="font-size: 10.0pt;font-family: &quot;New York&quot;,&quot;serif&quot;;mso-style-name: &quot;TOC\.Text&quot;;line-height: normal;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></div>
  <div style="font-size: 10.0pt;font-family: &quot;New York&quot;,&quot;serif&quot;;mso-style-name: &quot;TOC\.Text&quot;;line-height: normal;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></div>
  <div style="font-size: 10.0pt;font-family: &quot;New York&quot;,&quot;serif&quot;;mso-style-name: &quot;TOC\.Text&quot;;line-height: normal;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Courier New&quot;;display: inline;">Name</div></div>
  </td>
  <td width="84" valign="top" style="width: 63.15pt;border: solid windowtext 1.0pt;border-left: none;background: #A6A6A6;padding: 0in 5.4pt 0in 5.4pt;height: 107.5pt">
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;display: inline;">&#160;</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">Number of Other Registered
  Investment Companies Managed<sup>1</sup></div></div>
  <div style="font-size: 10.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;line-height: normal;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: 1em;"><div style="font-size: 9.0pt;font-family: &quot;Courier New&quot;;display: inline">&#160;</div></div>
  </td>
  <td width="96" valign="top" style="width: 72.25pt;border: solid windowtext 1.0pt;border-left: none;background: #A6A6A6;padding: 0in 5.4pt 0in 5.4pt;height: 107.5pt">
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">Assets of Other Registered
  Investment Companies Managed</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">(x $1 million)<sup>1</sup></div></div>
  </td>
  <td width="96" valign="top" style="width: 72.3pt;border: solid windowtext 1.0pt;border-left: none;background: #A6A6A6;padding: 0in 5.4pt 0in 5.4pt;height: 107.5pt">
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">Number of Other Pooled
  Investment Vehicles Managed<sup>1</sup></div></div>
  </td>
  <td width="102" valign="top" style="width: 76.85pt;border: solid windowtext 1.0pt;border-left: none;background: #A6A6A6;padding: 0in 5.4pt 0in 5.4pt;height: 107.5pt">
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">Assets of Other Pooled
  Investment Vehicles Managed</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">(x $1 million)<sup>1</sup></div></div>
  </td>
  <td width="84" valign="top" style="width: 63.25pt;border: solid windowtext 1.0pt;border-left: none;background: #A6A6A6;padding: 0in 5.4pt 0in 5.4pt;height: 107.5pt">
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">Number of Other Accounts
  Managed<sup>1</sup></div></div>
  </td>
  <td width="90" valign="top" style="width: 67.8pt;border: solid windowtext 1.0pt;border-left: none;background: #A6A6A6;padding: 0in 5.4pt 0in 5.4pt;height: 107.5pt">
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">Assets of Other Accounts
  Managed</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">(x $1 million)<sup>1</sup></div></div>
  </td>
 </tr>
 <tr style="height: 31.0pt">
  <td width="86" valign="top" style="width: 64.2pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt;height: 31.0pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">Michael Hasenstab</div></div>
  </td>
  <td width="84" valign="top" style="width: 63.15pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height: 31.0pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">16</div></div>
  </td>
  <td width="96" valign="top" style="width: 72.25pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height: 31.0pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">22,821.2</div></div>
  </td>
  <td width="96" valign="top" style="width: 72.3pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height: 31.0pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">44<sup>2</sup></div></div>
  </td>
  <td width="102" valign="top" style="width: 76.85pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height: 31.0pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">35,156.3</div></div>
  </td>
  <td width="84" valign="top" style="width: 63.25pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height: 31.0pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">16<sup>2</sup></div></div>
  </td>
  <td width="90" valign="top" style="width: 67.8pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height: 31.0pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">4,949.9</div></div>
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  </td>
 </tr>
 <tr style="height: 22.2pt">
  <td width="86" valign="top" style="width: 64.2pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt;height: 22.2pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">Calvin Ho</div></div>
  </td>
  <td width="84" valign="top" style="width: 63.15pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height: 22.2pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">10&#160;</div></div>
  </td>
  <td width="96" valign="top" style="width: 72.25pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height: 22.2pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">22,193.7&#160;</div></div>
  </td>
  <td width="96" valign="top" style="width: 72.3pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height: 22.2pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;18</div></div>
  </td>
  <td width="102" valign="top" style="width: 76.85pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height: 22.2pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">23,824.1&#160;</div></div>
  </td>
  <td width="84" valign="top" style="width: 63.25pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height: 22.2pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">1</div></div>
  </td>
  <td width="90" valign="top" style="width: 67.8pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt;height: 22.2pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">0.0</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;display: inline;">&#160;</div></div>
  </td>
 </tr>
</table>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 10.0pt;font-family: &quot;New York&quot;,&quot;serif&quot;;mso-style-name: &quot;TOC\.Text&quot;;line-height: normal;text-indent: -19.2pt;margin-right: 0in;margin-left: 37.2pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 8.0pt;font-family: &quot;Courier New&quot;;display: inline;">1.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;
</div></div><div style="font-size: 8.0pt;font-family: &quot;Courier New&quot;;display: inline;">The
various pooled investment vehicles and accounts listed are managed by a team of
investment professionals.&#160; Accordingly, the individual manager listed would not
be solely responsible for managing such listed amounts.</div></div>

<div style="font-size: 10.0pt;font-family: &quot;New York&quot;,&quot;serif&quot;;mso-style-name: &quot;TOC\.Text&quot;;line-height: normal;text-indent: -19.2pt;margin-right: 0in;margin-left: 37.2pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 8.0pt;font-family: &quot;Courier New&quot;;display: inline;">2.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;
</div></div><div style="font-size: 8.0pt;font-family: &quot;Courier New&quot;;display: inline;">Dr.
Hasenstab manages Pooled Investment Vehicles and Other Accounts with $9,929 in
total assets with a performance fee.</div></div>

<div style="font-size: 10.0pt;font-family: &quot;New York&quot;,&quot;serif&quot;;mso-style-name: &quot;TOC\.Text&quot;;line-height: normal;margin-right: 0in;margin-left: 37.2pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 8.0pt;font-family: &quot;Courier New&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Portfolio managers that
provide investment services to the Fund may also provide services to a variety
of other investment products, including other funds, institutional accounts and
private accounts.&#160; The advisory fees for some of such other products and
accounts may be different than that charged to the Fund and may include
performance based compensation (as noted in the chart above, if any).&#160; This may
result in fees that are higher (or lower) than the advisory fees paid by the
Fund. As a matter of policy, each fund or account is managed solely for the
benefit of the beneficial owners thereof. As discussed below, the separation of
the trading execution function from the portfolio management function and the
application of objectively based trade allocation procedures help to mitigate
potential conflicts of interest that may arise as a result of the portfolio
managers managing accounts with different advisory fees.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;display: inline;">Conflicts.&#160; </div></i><div style="font-size: 10.0pt;display: inline;">The management of multiple funds, including the Fund,
and accounts may also give rise to potential conflicts of interest if the funds
and other accounts have different objectives, benchmarks, time horizons, and
fees as the portfolio manager must allocate his or her time and investment
ideas across multiple funds and accounts. The investment manager seeks to
manage such competing interests for the time and attention of portfolio
managers by having portfolio managers focus on a particular investment
discipline.&#160; Most other accounts managed by a portfolio manager are managed
using the same investment strategies that are used in connection with the
management of the Fund.&#160; Accordingly, portfolio holdings, position sizes, and
industry and sector exposures tend to be similar across similar portfolios,
which may minimize the potential for conflicts of interest. As noted above, the
separate management of the trade execution and valuation functions from the
portfolio management process also helps to reduce potential conflicts of
interest. However, securities selected for funds or accounts other than the
Fund may outperform the securities selected for the Fund. Moreover, if a
portfolio manager identifies a limited investment opportunity that may be
suitable for more than one fund or other account, the Fund may not be able to
take full advantage of that opportunity due to an allocation of that
opportunity across all eligible funds and other accounts. The investment
manager seeks to manage such potential conflicts by using procedures intended
to provide a fair allocation of buy and sell opportunities among funds and
other accounts.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">The structure of a portfolio manager&#8217;s compensation may
give rise to potential conflicts of interest. A portfolio manager&#8217;s base pay
and bonus tend to increase with additional and more complex responsibilities
that include increased assets under management.&#160; As such, there may be an
indirect relationship between a portfolio manager&#8217;s marketing or sales efforts
and his or her bonus.&#160; </div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Finally, the management of
personal accounts by a portfolio manager may give rise to potential conflicts
of interest.&#160; While the funds and the investment manager have adopted a code of
ethics which they believe contains provisions designed to prevent a wide range
of prohibited activities by portfolio managers and others with respect to their
personal trading activities, there can be no assurance that the code of ethics
addresses all individual conduct that could result in conflicts of interest.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">The investment manager and the Fund have adopted certain
compliance procedures that are designed to address these, and other, types of
conflicts.&#160; However, there is no guarantee that such procedures will detect
each and every situation where a conflict arises.</div>

<div style="font-size: 10.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 1em;margin-bottom: 1em;"><i><div style="font-family: &quot;Courier New&quot;;display: inline;">Compensation.</div></i><div style="font-family: &quot;Courier New&quot;;display: inline;">&#160; The investment manager seeks to maintain a
compensation program that is competitively positioned to attract, retain and
motivate top-quality investment professionals. Portfolio managers receive a
base salary, a cash incentive bonus opportunity, an equity compensation
opportunity, and a benefits package. Portfolio manager compensation is reviewed
annually and the level of compensation is based on individual performance, the
salary range for a portfolio manager&#8217;s level of responsibility and Franklin
Templeton guidelines. Portfolio managers are provided no financial incentive to
favor one fund or account over another. Each portfolio manager&#8217;s compensation
consists of the following three elements:</div></div>

<div style="font-size: 10.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 18.75pt;margin-top: 1em;margin-bottom: 1em;"><b><div style="font-family: &quot;Courier New&quot;;display: inline;">Base
salary</div></b><div style="font-family: &quot;Courier New&quot;;display: inline;">&#160; Each portfolio
manager is paid a base salary.</div></div>

<div style="font-size: 10.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 18.75pt;margin-top: 1em;margin-bottom: 1em;"><b><div style="font-family: &quot;Courier New&quot;;display: inline;">Annual
bonus</div></b><div style="font-family: &quot;Courier New&quot;;display: inline;">&#160; Annual bonuses are
structured to align the interests of the portfolio manager with those of the
Fund&#8217;s shareholders. Each portfolio manager is eligible to receive an annual
bonus. Bonuses generally are split between cash (50% to 65%) and restricted
shares of Resources stock (17.5% to 25%) and mutual fund shares (17.5% to 25%).
The deferred equity-based compensation is intended to build a vested interest
of the portfolio manager in the financial performance of both Resources and
mutual funds advised by the investment manager. The bonus plan is intended to
provide a competitive level of annual bonus compensation that is tied to the
portfolio manager achieving consistently strong investment performance, which
aligns the financial incentives of the portfolio manager and Fund shareholders.
The Chief Investment Officer of the investment manager and/or other officers of
the investment manager, with responsibility for the Fund, have discretion in
the granting of annual bonuses to portfolio managers in accordance with
Franklin Templeton guidelines. The following factors are generally used in
determining bonuses under the plan:</div></div>

<ul style="margin-bottom: 0in;margin-top: 0in" type="disc">
 <li style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-left: 0in;margin-right: 0in;margin-top: 7.5pt;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;display: inline;">Investment
     performance.</div></i><div style="font-size: 10.0pt;display: inline;"> Primary
     consideration is given to the historic investment performance of all
     accounts managed by the portfolio manager over the 1, 3 and 5 preceding
     years measured against risk benchmarks developed by the fixed income
     management team. The pre-tax performance of each fund managed is measured
     relative to a relevant peer group and/or applicable benchmark as
     appropriate.</div></li>
 <li style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-left: 0in;margin-right: 0in;margin-top: 7.5pt;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;display: inline;">Non-investment
     performance.</div></i><div style="font-size: 10.0pt;display: inline;"> The more
     qualitative contributions of the portfolio manager to the investment
     manager&#8217;s business and the investment management team, including business
     knowledge, productivity, customer service, creativity, and contribution to
     team goals, are evaluated in determining the amount of any bonus award.</div></li>
 <li style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-left: 0in;margin-right: 0in;margin-top: 7.5pt;margin-bottom: .0001pt"><i><div style="font-size: 10.0pt;display: inline;">Responsibilities.</div></i><div style="font-size: 10.0pt;display: inline;"> The characteristics and complexity of funds
     managed by the portfolio manager are factored in the investment manager&#8217;s
     appraisal.</div></li>
</ul>

<div style="font-size: 10.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 18.75pt;margin-top: 1em;margin-bottom: 1em;"><b><div style="font-family: &quot;Courier New&quot;;display: inline;">Additional
long-term equity-based compensation</div></b><div style="font-family: &quot;Courier New&quot;;display: inline;">.
Portfolio managers may also be awarded restricted shares or units of Resources
stock or restricted shares or units of one or more mutual funds. Awards of such
deferred equity-based compensation typically vest over time, so as to create
incentives to retain key talent.</div></div>

<div style="font-size: 10.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 1em;margin-bottom: 1em;"><div style="font-family: &quot;Courier New&quot;;display: inline;">Portfolio managers also participate
in benefit plans and programs available generally to all employees of the
investment manager.</div></div>

<div style="font-size: 10.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-right: 0in;margin-left: 0in;margin-top: 1em;margin-bottom: 1em;"><i><div style="font-family: &quot;Courier New&quot;;display: inline;">Ownership of Fund shares.</div></i><div style="font-family: &quot;Courier New&quot;;display: inline;"> The investment manager has a policy of
encouraging portfolio managers to invest in the funds they manage. Exceptions
arise when, for example, a fund is closed to new investors or when tax
considerations or jurisdictional constraints cause such an investment to be
inappropriate for the portfolio manager. The following is the dollar range of
Fund shares beneficially owned by the portfolio managers (such amounts may
change from time to time):</div></div>

<table border="1" cellspacing="0" cellpadding="0" style="border-collapse: collapse;border: none;margin-left: 41.4pt">
 <tr>
  <td width="166" valign="top" style="width: 124.2pt;border: solid windowtext 1.0pt;background: #A6A6A6;padding: 0in 5.4pt 0in 5.4pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Portfolio Manager</div></div>
  </td>
  <td width="211" valign="top" style="width: 158.0pt;border: solid windowtext 1.0pt;border-left: none;background: #A6A6A6;padding: 0in 5.4pt 0in 5.4pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Dollar Range of Fund Shares Beneficially Owned</div></div>
  </td>
 </tr>
 <tr>
  <td width="166" valign="top" style="width: 124.2pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt">
  <div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Michael Hasenstab</div></div>
  </td>
  <td width="211" valign="top" style="width: 158.0pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;mso-style-link: &quot;Header Char&quot;;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">$1 - $10,001 </div></div>
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  <td width="166" valign="top" style="width: 124.2pt;border: solid windowtext 1.0pt;border-top: none;padding: 0in 5.4pt 0in 5.4pt">
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  </td>
  <td width="211" valign="top" style="width: 158.0pt;border-top: none;border-left: none;border-bottom: solid windowtext 1.0pt;border-right: solid windowtext 1.0pt;padding: 0in 5.4pt 0in 5.4pt">
  <div align="center" style="font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;mso-style-link: &quot;Header Char&quot;;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;display: inline;">None</div></div>
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<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 9. Purchases of
Equity Securities by Closed-End Management Investment Company and Affiliated
Purchasers.&#160;&#160;&#160;&#160;&#160;&#160;&#160; N/A</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 10. Submission of
Matters to a Vote of Security Holders.</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt">There have been no changes to the procedures by which
shareholders may recommend nominees to the Registrant's Board of Trustees that
would require disclosure herein.</div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 11. Controls and
Procedures.</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">(a)&#160;<u>Evaluation of
Disclosure Controls and Procedures</u>. </div></b><div style="font-size: 10.0pt;display: inline;">The
Registrant maintains disclosure controls and procedures that are designed to
provide reasonable assurance that information required to be disclosed in the
Registrant&#8217;s filings under the Securities Exchange Act of 1934, as amended, and
the Investment Company Act of 1940 is recorded, processed, summarized and
reported within the periods specified in the rules and forms of the Securities
and Exchange Commission. Such information is accumulated and communicated to
the Registrant&#8217;s management, including its principal executive officer and
principal financial officer, as appropriate, to allow timely decisions
regarding required disclosure. The Registrant&#8217;s management, including the
principal executive officer and the principal financial officer, recognizes
that any set of controls and procedures, no matter how well designed and
operated, can provide only reasonable assurance of achieving the desired control
objectives.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Within 90 days prior to the
filing date of this Shareholder Report on Form&#160;N-CSR,&#160;the Registrant
had carried out an evaluation, under the supervision and with the participation
of the Registrant&#8217;s management, including the Registrant&#8217;s principal executive
officer and the Registrant&#8217;s principal financial officer, of the effectiveness
of the design and operation of the Registrant&#8217;s disclosure controls and
procedures. Based on such evaluation, the Registrant&#8217;s principal executive
officer and principal financial officer concluded that the Registrant&#8217;s
disclosure controls and procedures are effective.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">(b)&#160;<u>Changes in
Internal Controls</u>. </div></b><div style="font-size: 10.0pt;display: inline;">During the
period covered by this report, a third-party service provider commenced
performing certain accounting and administrative services for the Registrant
that are subject to Franklin Templeton&#8217;s oversight.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 12. Disclosure of
Securities Lending Activities for Closed-End Management Investment Company.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; N/A</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">Item 13. Exhibits.</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(a)(1)<b> </b></div><div style="font-size: 10.0pt;display: inline;">Code of Ethics</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;"><a href="coe.htm">Code of
Ethics</a></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-indent: .25in;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(a)(2)
Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 of </div><div style="font-size: 10.0pt;display: inline;">Matthew T. Hinkle</div><div style="font-size: 10.0pt;display: inline;">,
Chief Executive Officer - Finance and Administration, and </div><div style="font-size: 10.0pt;display: inline;">Robert G. Kubilis</div><div style="font-size: 10.0pt;display: inline;">,
Chief Financial Officer and Chief Accounting Officer</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;"><a href="section302.htm">Section
302</a></div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">&#160;</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-indent: .25in;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">(b)
Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 of </div><div style="font-size: 10.0pt;display: inline;">Matthew T. Hinkle</div><div style="font-size: 10.0pt;display: inline;">,
Chief Executive Officer - Finance and Administration, and </div><div style="font-size: 10.0pt;display: inline;">Robert G. Kubilis</div><div style="font-size: 10.0pt;display: inline;">,
Chief Financial Officer and Chief Accounting Officer</div></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b>&#160;</b></div>

<div style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><a href="section906.htm">Section 906</a></div>

<div align="center" style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b>&#160;</b></div>

<div align="center" style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b>&#160;</b></div>

<div align="center" style="font-size: 10.0pt;font-family: &quot;Courier New&quot;;mso-style-link: &quot;Plain Text Char&quot;;layout-grid-mode: line;text-align: center;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b>SIGNATURES</b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Pursuant to the requirements
of the Securities Exchange Act of 1934 and the Investment Company Act of 1940,
the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;display: inline;">TEMPLETON GLOBAL INCOME
FUND</div></b></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">By <u>S/MATTHEW T. HINKLE</u>_______________</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160; Matthew T. Hinkle</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160; Chief Executive Officer &#8211;
Finance and Administration</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: char;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Date
February 26, 2021</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Pursuant to the requirements
of the Securities Exchange Act of 1934 and the Investment Company Act of 1940,
this report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">By <u>S/MATTHEW T. HINKLE</u>_______________</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160; Matthew T. Hinkle</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;&#160; Chief Executive Officer &#8211;
Finance and Administration</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: char;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Date
February 26, 2021</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">By <u>S/ROBERT G. KUBILIS</u>________<u>_&#160;
</u>____</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-indent: .25in;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Robert
G. Kubilis</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;text-indent: .25in;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Chief
Financial Officer and Chief Accounting Officer</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: char;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">Date
February 26, 2021</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

<div style="font-size: 12.0pt;font-family: &quot;Courier New&quot;;layout-grid-mode: line;margin-right: 0in;margin-left: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;display: inline;">&#160;</div></div>

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<DOCUMENT>
<TYPE>EX-99.CODE ETH
<SEQUENCE>2
<FILENAME>coe.htm
<TEXT>
<html><head></head><body><div style="page: WordSection1">

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 6.0pt;margin-right: 6.9pt;margin-top: 1.9pt;margin-bottom: .0001pt"><b><div style="font-size: 16.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.05pt;display: inline;">Code of Ethics for
Principal Executives </div></b><b><div style="font-size: 16.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&amp;<div style="letter-spacing: -.05pt;display: inline;"> Senior
Financial</div><div style="letter-spacing: 1.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Officers</div></div></b></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></b></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;line-height: 1.0pt;margin-left: 89.05pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 1.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;"><img width="517" height="3" src="word4788888535040.gif"></div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><b><div style="font-size: 6.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></b></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 6.0pt;margin-right: 0in;margin-top: 3.5pt;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;position: relative;top: -2.0pt;letter-spacing: -.05pt;display: inline;">Procedures&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div></b><div style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">Revised December 10, 2018</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .05pt;margin-bottom: .0001pt"><div style="font-size: 10.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;line-height: 1.0pt;margin-left: 89.05pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 1.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;"><img width="517" height="3" src="word4788888535040.gif"></div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .25pt;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<h1 align="center" style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: center;margin-top: 3.45pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 2.2pt"><div style="letter-spacing: -.05pt;display: inline;">FRANKLIN </div><div style="letter-spacing: -.1pt;display: inline;">TEMPLETON</div><div style="letter-spacing: -.05pt;display: inline;"> FUNDS</div></h1>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></b></div>

<div align="center" style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;text-align: center;line-height: 186%;margin-left: 87.05pt;margin-right: 88.0pt;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 12.0pt;line-height: 186%;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.05pt;display: inline;">CODE OF ETHICS </div></b><b><div style="font-size: 12.0pt;line-height: 186%;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">FOR<div style="letter-spacing: -.05pt;display: inline;"> </div><div style="letter-spacing: -.15pt;display: inline;">PRINCIPAL</div><div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">EXECUTIVES</div><div style="letter-spacing: -.45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">AND</div><div style="letter-spacing: 1.45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">SENIOR
FINANCIAL OFFICERS</div></div></b></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .25pt;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></b></div>

<h2 style="text-indent: -41.5pt;font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;font-weight: normal;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 48.0pt">I.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div><div style="letter-spacing: -.05pt;display: inline;">Covered</div> Officers and Purpose
of the Code</h2>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 0in;margin-right: 6.9pt;margin-bottom: .0001pt;margin-left: 5.95pt">This<div style="letter-spacing: 1.65pt;display: inline;"> </div>code<div style="letter-spacing: 1.65pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">of</div><div style="letter-spacing: 1.7pt;display: inline;"> </div>ethics<div style="letter-spacing: 1.65pt;display: inline;">
</div>(the<div style="letter-spacing: 1.65pt;display: inline;"> </div>"Code")<div style="letter-spacing: 1.65pt;display: inline;"> </div>applies<div style="letter-spacing: 1.7pt;display: inline;">
</div>to<div style="letter-spacing: 1.65pt;display: inline;"> </div>the<div style="letter-spacing: 1.65pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Principal</div><div style="letter-spacing: 1.65pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Executive</div><div style="letter-spacing: 1.7pt;display: inline;"> </div>Officers,<div style="letter-spacing: 1.65pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">Principal</div><div style="letter-spacing: 2.35pt;display: inline;"> </div>Financial<div style="letter-spacing: .45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Officer</div><div style="letter-spacing: .45pt;display: inline;"> </div>and<div style="letter-spacing: .45pt;display: inline;"> </div>Principal<div style="letter-spacing: .45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Accounting</div><div style="letter-spacing: .5pt;display: inline;"> </div>Officer<div style="letter-spacing: .5pt;display: inline;"> </div>(the<div style="letter-spacing: .45pt;display: inline;"> </div>"Covered<div style="letter-spacing: .45pt;display: inline;"> </div>Officers,"<div style="letter-spacing: .5pt;display: inline;"> </div>each<div style="letter-spacing: .45pt;display: inline;"> </div>of<div style="letter-spacing: .4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">whom</div><div style="letter-spacing: .45pt;display: inline;"> </div>is<div style="letter-spacing: .5pt;display: inline;"> </div>set<div style="letter-spacing: 1.75pt;display: inline;"> </div>forth
in<div style="letter-spacing: .05pt;display: inline;"> </div>Exhibit <div style="letter-spacing: -.05pt;display: inline;">A)</div><div style="letter-spacing: .05pt;display: inline;"> </div>of<div style="letter-spacing: .05pt;display: inline;"> </div>each investment<div style="letter-spacing: .05pt;display: inline;"> </div>company<div style="letter-spacing: .05pt;display: inline;"> </div>advised by<div style="letter-spacing: .05pt;display: inline;"> </div>a<div style="letter-spacing: .1pt;display: inline;"> </div>Franklin<div style="letter-spacing: .05pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Resources</div><div style="letter-spacing: .05pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">subsidiary</div>
and<div style="letter-spacing: 1.9pt;display: inline;"> </div>that<div style="letter-spacing: 1.9pt;display: inline;"> </div>is<div style="letter-spacing: 1.95pt;display: inline;"> </div>registered<div style="letter-spacing: 1.95pt;display: inline;"> </div>with<div style="letter-spacing: 1.9pt;display: inline;"> </div>the<div style="letter-spacing: 1.95pt;display: inline;"> </div>United<div style="letter-spacing: 1.95pt;display: inline;">
</div>States<div style="letter-spacing: 1.9pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Securities</div><div style="letter-spacing: 1.9pt;display: inline;"> </div>&amp;<div style="letter-spacing: 1.95pt;display: inline;"> </div>Exchange<div style="letter-spacing: 2.0pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">Commission</div><div style="letter-spacing: 1.9pt;display: inline;"> </div>(&#8220;SEC&#8221;)<div style="letter-spacing: 1.8pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">(collectively,</div><div style="letter-spacing: -.35pt;display: inline;"> </div>"FT<div style="letter-spacing: -.35pt;display: inline;">
</div>Funds")<div style="letter-spacing: -.35pt;display: inline;"> </div>for<div style="letter-spacing: -.35pt;display: inline;"> </div>the<div style="letter-spacing: -.35pt;display: inline;"> </div>purpose<div style="letter-spacing: -.35pt;display: inline;"> </div>of<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">promoting:</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .3pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 0in;margin-right: 48.7pt;margin-bottom: .0001pt;margin-left: 42.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div><div style="letter-spacing: -.05pt;display: inline;">Honest</div><div style="letter-spacing: -.35pt;display: inline;"> </div>and<div style="letter-spacing: -.3pt;display: inline;"> </div>ethical<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">conduct,</div><div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">including</div><div style="letter-spacing: -.35pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>ethical<div style="letter-spacing: -.35pt;display: inline;"> </div>resolution<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">of</div><div style="letter-spacing: -.35pt;display: inline;"> </div>actual<div style="letter-spacing: -.3pt;display: inline;">
</div>or<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">apparent</div><div style="letter-spacing: 2.85pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">conflicts</div><div style="letter-spacing: -.45pt;display: inline;">
</div>of<div style="letter-spacing: -.45pt;display: inline;"> </div>interest<div style="letter-spacing: -.45pt;display: inline;"> </div>between<div style="letter-spacing: -.45pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">personal</div><div style="letter-spacing: -.45pt;display: inline;"> </div>and<div style="letter-spacing: -.45pt;display: inline;"> </div>professional<div style="letter-spacing: -.45pt;display: inline;"> </div>relationships;</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 5.8pt;margin-right: 15.25pt;margin-bottom: .0001pt;margin-left: 42.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Full,<div style="letter-spacing: -.35pt;display: inline;"> </div>fair,<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">accurate,</div><div style="letter-spacing: -.3pt;display: inline;"> </div>timely<div style="letter-spacing: -.3pt;display: inline;"> </div>and<div style="letter-spacing: -.3pt;display: inline;"> </div>understandable<div style="letter-spacing: -.3pt;display: inline;"> </div>disclosure<div style="letter-spacing: -.35pt;display: inline;"> </div>in<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">reports</div><div style="letter-spacing: -.3pt;display: inline;"> </div>and<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">documents</div><div style="letter-spacing: -.3pt;display: inline;">
</div>that<div style="letter-spacing: 2.15pt;display: inline;"> </div>a<div style="letter-spacing: -.25pt;display: inline;"> </div>registrant<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">files</div><div style="letter-spacing: -.25pt;display: inline;"> </div>with,<div style="letter-spacing: -.25pt;display: inline;"> </div>or<div style="letter-spacing: -.25pt;display: inline;"> </div>submits<div style="letter-spacing: -.25pt;display: inline;"> </div>to,<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">the</div><div style="letter-spacing: -.25pt;display: inline;"> </div>SEC<div style="letter-spacing: -.2pt;display: inline;"> </div>and<div style="letter-spacing: -.2pt;display: inline;"> </div>in<div style="letter-spacing: -.25pt;display: inline;"> </div>other<div style="letter-spacing: -.25pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">public</div><div style="letter-spacing: -.2pt;display: inline;"> </div>communications<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">made</div><div style="letter-spacing: 1.35pt;display: inline;"> </div>by<div style="letter-spacing: -.2pt;display: inline;"> </div>or<div style="letter-spacing: -.2pt;display: inline;"> </div>on<div style="letter-spacing: -.2pt;display: inline;"> </div>behalf<div style="letter-spacing: -.2pt;display: inline;"> </div>of<div style="letter-spacing: -.2pt;display: inline;"> </div>the<div style="letter-spacing: -.2pt;display: inline;"> </div>FT<div style="letter-spacing: -.25pt;display: inline;"> </div>Funds;</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 4.4pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 42.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div><div style="letter-spacing: -.05pt;display: inline;">Compliance</div><div style="letter-spacing: -.45pt;display: inline;"> </div>with<div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">applicable</div><div style="letter-spacing: -.45pt;display: inline;"> </div>laws<div style="letter-spacing: -.4pt;display: inline;"> </div>and<div style="letter-spacing: -.45pt;display: inline;"> </div>governmental<div style="letter-spacing: -.45pt;display: inline;"> </div>rules<div style="letter-spacing: -.4pt;display: inline;"> </div>and<div style="letter-spacing: -.45pt;display: inline;"> </div>regulations;</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 7.05pt;margin-right: 6.9pt;margin-bottom: .0001pt;margin-left: 42.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>The<div style="letter-spacing: 2.25pt;display: inline;"> </div>prompt<div style="letter-spacing: 2.3pt;display: inline;"> </div>internal<div style="letter-spacing: 2.25pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">reporting</div><div style="letter-spacing: 2.3pt;display: inline;"> </div>of<div style="letter-spacing: 2.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">violations</div><div style="letter-spacing: 2.25pt;display: inline;"> </div>of<div style="letter-spacing: 2.25pt;display: inline;"> </div>the<div style="letter-spacing: 2.3pt;display: inline;"> </div>Code<div style="letter-spacing: 2.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">to</div><div style="letter-spacing: 2.3pt;display: inline;"> </div>an<div style="letter-spacing: 2.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">appropriate</div><div style="letter-spacing: 2.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">person</div><div style="letter-spacing: 2.3pt;display: inline;"> </div>or<div style="letter-spacing: 3.25pt;display: inline;"> </div>persons<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">identified</div><div style="letter-spacing: -.3pt;display: inline;"> </div>in<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.35pt;display: inline;"> </div>Code;<div style="letter-spacing: -.3pt;display: inline;"> </div>and</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 3.95pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 42.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div><div style="letter-spacing: -.05pt;display: inline;">Accountability</div><div style="letter-spacing: -.4pt;display: inline;"> </div>for<div style="letter-spacing: -.35pt;display: inline;"> </div>adherence<div style="letter-spacing: -.4pt;display: inline;"> </div>to<div style="letter-spacing: -.35pt;display: inline;"> </div>the<div style="letter-spacing: -.45pt;display: inline;"> </div>Code.</div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><div style="font-size: 11.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 0in;margin-right: 6.85pt;margin-bottom: .0001pt;margin-left: 6.0pt">Each<div style="letter-spacing: .75pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Covered</div><div style="letter-spacing: .75pt;display: inline;"> </div>Officer<div style="letter-spacing: .75pt;display: inline;"> </div>will<div style="letter-spacing: .75pt;display: inline;"> </div>be<div style="letter-spacing: .75pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">expected</div><div style="letter-spacing: .75pt;display: inline;"> </div>to<div style="letter-spacing: .75pt;display: inline;"> </div>adhere<div style="letter-spacing: .75pt;display: inline;"> </div>to<div style="letter-spacing: .75pt;display: inline;"> </div>a<div style="letter-spacing: .8pt;display: inline;"> </div>high<div style="letter-spacing: .75pt;display: inline;"> </div>standard<div style="letter-spacing: .75pt;display: inline;"> </div>of<div style="letter-spacing: .7pt;display: inline;"> </div>business<div style="letter-spacing: .75pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">ethics</div><div style="letter-spacing: 1.85pt;display: inline;"> </div>and<div style="letter-spacing: .5pt;display: inline;"> </div>must<div style="letter-spacing: .55pt;display: inline;"> </div>be<div style="letter-spacing: .55pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">sensitive</div><div style="letter-spacing: .5pt;display: inline;">
</div>to<div style="letter-spacing: .55pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">situations</div><div style="letter-spacing: .55pt;display: inline;"> </div>that<div style="letter-spacing: .5pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">may</div><div style="letter-spacing: .55pt;display: inline;"> </div>give<div style="letter-spacing: .55pt;display: inline;"> </div>rise<div style="letter-spacing: .5pt;display: inline;"> </div>to<div style="letter-spacing: .55pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">actual</div><div style="letter-spacing: .55pt;display: inline;"> </div>as<div style="letter-spacing: .5pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">well</div><div style="letter-spacing: .5pt;display: inline;"> </div>as<div style="letter-spacing: .55pt;display: inline;"> </div>apparent<div style="letter-spacing: .45pt;display: inline;"> </div>conflicts<div style="letter-spacing: .55pt;display: inline;">
</div>of<div style="letter-spacing: 2.65pt;display: inline;"> </div>interest.</div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .3pt;margin-bottom: .0001pt"><div style="font-size: 8.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 6.0pt;margin-right: 12.4pt;margin-top: 3.8pt;margin-bottom: .0001pt"><i><div style="font-size: 9.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;display: inline;">* </div></i><div style="font-size: 9.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;display: inline;">Rule 38a-1<div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">under</div> <div style="letter-spacing: -.05pt;display: inline;">the</div> <div style="letter-spacing: -.05pt;display: inline;">Investment</div>
<div style="letter-spacing: -.05pt;display: inline;">Company</div><div style="letter-spacing: .05pt;display: inline;"> </div>Act of 1940<div style="letter-spacing: -.1pt;display: inline;"> </div>(&#8220;1940 <div style="letter-spacing: -.05pt;display: inline;">Act&#8221;)</div> and <div style="letter-spacing: -.05pt;display: inline;">Rule</div> <div style="letter-spacing: -.05pt;display: inline;">206(4)-7</div> under<div style="letter-spacing: -.05pt;display: inline;"> the </div>Investment <div style="letter-spacing: -.05pt;display: inline;">Advisers</div> Act <div style="letter-spacing: -.05pt;display: inline;">of</div><div style="letter-spacing: 3.55pt;display: inline;"> </div>1940 (&#8220;Advisers Act&#8221;)<div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">(together</div>
the &#8220;Compliance Rule&#8221;) <div style="letter-spacing: -.05pt;display: inline;">require registered</div>
<div style="letter-spacing: -.05pt;display: inline;">investment</div> <div style="letter-spacing: -.05pt;display: inline;">companies</div><div style="letter-spacing: -.1pt;display: inline;"> </div>and <div style="letter-spacing: -.05pt;display: inline;">registered</div> <div style="letter-spacing: -.05pt;display: inline;">investment</div><div style="letter-spacing: 4.05pt;display: inline;"> </div>advisers <div style="letter-spacing: -.05pt;display: inline;">to,</div> among other<div style="letter-spacing: -.05pt;display: inline;"> things, adopt and implement</div> written <div style="letter-spacing: -.05pt;display: inline;">policies </div>and<div style="letter-spacing: -.05pt;display: inline;"> procedures
reasonably</div> designed to <div style="letter-spacing: -.05pt;display: inline;">prevent</div>
<div style="letter-spacing: -.05pt;display: inline;">violations</div><div style="letter-spacing: 4.05pt;display: inline;"> </div>of the<div style="letter-spacing: -.05pt;display: inline;"> federal</div> <div style="letter-spacing: -.05pt;display: inline;">securities</div> <div style="letter-spacing: -.05pt;display: inline;">laws</div> <div style="letter-spacing: -.05pt;display: inline;">(&#8220;Compliance </div>Rule<div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Policies</div><div style="letter-spacing: -.1pt;display: inline;"> </div>and <div style="letter-spacing: -.05pt;display: inline;">Procedures&#8221;).</div></div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 6.0pt;margin-right: 6.9pt;margin-top: 6.0pt;margin-bottom: .0001pt"><div style="font-size: 9.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;letter-spacing: -.05pt;display: inline;">CONFIDENTIAL</div><div style="font-size: 9.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;display: inline;"> <div style="letter-spacing: -.05pt;display: inline;">INFORMATION.</div>&#160; <div style="letter-spacing: -.05pt;display: inline;">This</div> <div style="letter-spacing: -.05pt;display: inline;">document</div> is<div style="letter-spacing: -.05pt;display: inline;"> the</div> <div style="letter-spacing: -.05pt;display: inline;">proprietary</div><div style="letter-spacing: .05pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">product</div>
of<div style="letter-spacing: -.05pt;display: inline;"> </div>Franklin<div style="letter-spacing: -.1pt;display: inline;"> </div>Templeton <div style="letter-spacing: -.05pt;display: inline;">Investments.</div><div style="letter-spacing: 2.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">It</div>
<div style="letter-spacing: -.05pt;display: inline;">may</div><div style="letter-spacing: .05pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">NOT</div><div style="letter-spacing: 3.5pt;display: inline;"> </div>be <div style="letter-spacing: -.05pt;display: inline;">distributed</div><div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">outside</div>
the <div style="letter-spacing: -.05pt;display: inline;">company</div> <div style="letter-spacing: -.05pt;display: inline;">unless</div> <div style="letter-spacing: -.05pt;display: inline;">it is</div><div style="letter-spacing: .05pt;display: inline;"> </div>made subject to<div style="letter-spacing: -.1pt;display: inline;"> </div>a <div style="letter-spacing: -.05pt;display: inline;">non-disclosure agreement </div>and/or<div style="letter-spacing: -.05pt;display: inline;"> such</div> <div style="letter-spacing: -.05pt;display: inline;">release</div>
<div style="letter-spacing: -.05pt;display: inline;">receives</div><div style="letter-spacing: 5.05pt;display: inline;"> </div>authorization <div style="letter-spacing: -.05pt;display: inline;">by </div>an
FTI <div style="letter-spacing: -.05pt;display: inline;">Chief Compliance</div> <div style="letter-spacing: -.05pt;display: inline;">Officer.</div>&#160; <div style="letter-spacing: -.05pt;display: inline;">Any</div><div style="letter-spacing: .05pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">unauthorized</div> <div style="letter-spacing: -.05pt;display: inline;">use,</div> <div style="letter-spacing: -.05pt;display: inline;">reproduction </div>or <div style="letter-spacing: -.05pt;display: inline;">transfer</div><div style="letter-spacing: -.1pt;display: inline;">
</div>of this <div style="letter-spacing: -.05pt;display: inline;">document</div> is strictly<div style="letter-spacing: 4.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">prohibited.</div><div style="letter-spacing: 2.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Franklin</div>
Templeton<div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Investments</div> &#169; <div style="letter-spacing: -.05pt;display: inline;">2014.</div><div style="letter-spacing: 2.25pt;display: inline;"> </div>All <div style="letter-spacing: -.05pt;display: inline;">Rights
Reserved.</div></div></div>

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<b><div style="font-size: 9.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;display: inline;">&#160;</div></b>

<br clear="ALL">

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;text-indent: -38.8pt;margin-left: 47.95pt;margin-right: 0in;margin-top: 3.45pt;margin-bottom: .0001pt"><div style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">II.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div><div style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">Other
Policies and Procedures</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 0in;margin-right: 5.9pt;margin-bottom: .0001pt;margin-left: 12.0pt">This<div style="letter-spacing: -.1pt;display: inline;"> </div>Code<div style="letter-spacing: -.05pt;display: inline;"> </div>shall<div style="letter-spacing: -.05pt;display: inline;">
</div>be<div style="letter-spacing: -.1pt;display: inline;"> </div>the<div style="letter-spacing: -.1pt;display: inline;"> </div>sole<div style="letter-spacing: -.05pt;display: inline;"> </div>code<div style="letter-spacing: -.1pt;display: inline;"> </div>of<div style="letter-spacing: -.15pt;display: inline;"> </div>ethics<div style="letter-spacing: -.05pt;display: inline;"> adopted </div>by<div style="letter-spacing: -.1pt;display: inline;"> </div>the<div style="letter-spacing: -.05pt;display: inline;"> </div>Funds<div style="letter-spacing: -.05pt;display: inline;"> </div>for<div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">purposes </div>of<div style="letter-spacing: -.05pt;display: inline;"> Section</div><div style="letter-spacing: 1.75pt;display: inline;"> </div>406<div style="letter-spacing: 1.7pt;display: inline;"> </div>of<div style="letter-spacing: 1.7pt;display: inline;"> </div>the<div style="letter-spacing: 1.7pt;display: inline;"> </div>Sarbanes-Oxley<div style="letter-spacing: 1.7pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Act</div><div style="letter-spacing: 1.75pt;display: inline;"> </div>and<div style="letter-spacing: 1.7pt;display: inline;"> </div>the<div style="letter-spacing: 1.75pt;display: inline;"> </div>rules<div style="letter-spacing: 1.65pt;display: inline;">
</div>and<div style="letter-spacing: 1.75pt;display: inline;"> </div>forms<div style="letter-spacing: 1.7pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">applicable</div><div style="letter-spacing: 1.65pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">to</div><div style="letter-spacing: 1.75pt;display: inline;"> </div>registered<div style="letter-spacing: 1.65pt;display: inline;"> </div>investment<div style="letter-spacing: 1.4pt;display: inline;"> </div>companies<div style="letter-spacing: -1.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">thereunder.</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><div style="font-size: 11.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 0in;margin-right: 5.95pt;margin-bottom: .0001pt;margin-left: 12.0pt">Franklin<div style="letter-spacing: 2.75pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Resources,</div><div style="letter-spacing: 2.75pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Inc.</div><div style="letter-spacing: 2.75pt;display: inline;"> </div>has<div style="letter-spacing: 2.75pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">separately</div><div style="letter-spacing: 2.75pt;display: inline;"> </div>adopted<div style="letter-spacing: 2.75pt;display: inline;"> </div>the<div style="letter-spacing: 2.75pt;display: inline;"> </div><u>Code<div style="letter-spacing: 2.7pt;display: inline;">
</div>of<div style="letter-spacing: 2.7pt;display: inline;"> </div>Ethics<div style="letter-spacing: 2.75pt;display: inline;"> </div>and<div style="letter-spacing: 2.7pt;display: inline;"> </div>Business</u><div style="letter-spacing: 2.15pt;display: inline;"> </div><u>Conduct<div style="letter-spacing: 1.3pt;display: inline;"> </div></u>(&#8220;Business<div style="letter-spacing: 1.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Conduct&#8221;),</div><div style="letter-spacing: 1.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">which</div><div style="letter-spacing: 1.35pt;display: inline;"> </div>is<div style="letter-spacing: 1.3pt;display: inline;"> </div>applicable<div style="letter-spacing: 1.3pt;display: inline;"> </div>to<div style="letter-spacing: 1.3pt;display: inline;"> </div>all<div style="letter-spacing: 1.3pt;display: inline;"> </div>officers,<div style="letter-spacing: 1.25pt;display: inline;">
</div>directors<div style="letter-spacing: 1.3pt;display: inline;"> </div>and<div style="letter-spacing: 1.3pt;display: inline;"> </div>employees<div style="letter-spacing: 1.3pt;display: inline;">
</div>of<div style="letter-spacing: 1.4pt;display: inline;"> </div>Franklin<div style="letter-spacing: .4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Resources,</div><div style="letter-spacing: .45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Inc.,</div><div style="letter-spacing: .45pt;display: inline;"> </div>including<div style="letter-spacing: .4pt;display: inline;">
</div>Covered<div style="letter-spacing: .5pt;display: inline;"> </div>Officers.<div style="letter-spacing: .95pt;display: inline;"> </div>It<div style="letter-spacing: .45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">summarizes</div><div style="letter-spacing: .45pt;display: inline;"> </div>the<div style="letter-spacing: .5pt;display: inline;"> </div>values,<div style="letter-spacing: .5pt;display: inline;"> </div>principles<div style="letter-spacing: .5pt;display: inline;">
</div>and<div style="letter-spacing: 1.95pt;display: inline;"> </div>business <div style="letter-spacing: -.05pt;display: inline;">practices</div><div style="letter-spacing: .05pt;display: inline;">
</div>that<div style="letter-spacing: -.15pt;display: inline;"> </div>guide<div style="letter-spacing: .05pt;display: inline;"> </div>the<div style="letter-spacing: .05pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">employee&#8217;s</div> business<div style="letter-spacing: .05pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">conduct</div> <div style="letter-spacing: .05pt;display: inline;">and</div> also<div style="letter-spacing: .05pt;display: inline;">
</div>provides a set of basic<div style="letter-spacing: 2.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">principles</div><div style="letter-spacing: 3.0pt;display: inline;"> </div>to<div style="letter-spacing: 3.0pt;display: inline;"> </div>guide<div style="letter-spacing: 3.0pt;display: inline;"> </div>officers,<div style="letter-spacing: 3.0pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">directors</div><div style="letter-spacing: 3.0pt;display: inline;"> </div>and<div style="letter-spacing: 3.0pt;display: inline;"> </div>employees&#160;
regarding&#160; the<div style="letter-spacing: 3.0pt;display: inline;"> </div>minimum<div style="letter-spacing: 3.0pt;display: inline;"> </div>ethical<div style="letter-spacing: 1.8pt;display: inline;">
</div>requirements<div style="letter-spacing: 1.3pt;display: inline;"> </div>expected<div style="letter-spacing: 1.35pt;display: inline;"> </div>of<div style="letter-spacing: 1.35pt;display: inline;"> </div>them.<div style="letter-spacing: 2.75pt;display: inline;"> </div>It<div style="letter-spacing: 1.4pt;display: inline;"> </div>supplements<div style="letter-spacing: 1.3pt;display: inline;"> </div>the<div style="letter-spacing: 1.35pt;display: inline;"> </div>values,<div style="letter-spacing: 1.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">principles</div><div style="letter-spacing: 1.3pt;display: inline;"> </div>and<div style="letter-spacing: 1.35pt;display: inline;"> </div>business<div style="letter-spacing: 1.35pt;display: inline;"> </div>conduct<div style="letter-spacing: 1.4pt;display: inline;">
</div>identified<div style="letter-spacing: -.35pt;display: inline;"> </div>in<div style="letter-spacing: -.4pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>Code<div style="letter-spacing: -.35pt;display: inline;"> </div>and<div style="letter-spacing: -.3pt;display: inline;"> </div>other<div style="letter-spacing: -.35pt;display: inline;"> </div>existing<div style="letter-spacing: -.3pt;display: inline;">
</div>employee<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">policies.</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 0in;margin-right: 5.95pt;margin-bottom: .0001pt;margin-left: 12.0pt">Additionally,<div style="letter-spacing: 1.2pt;display: inline;"> </div>the<div style="letter-spacing: 1.2pt;display: inline;"> </div>Franklin<div style="letter-spacing: 1.2pt;display: inline;">
</div>Templeton<div style="letter-spacing: 1.2pt;display: inline;"> </div>Funds<div style="letter-spacing: 1.2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">have</div><div style="letter-spacing: 1.2pt;display: inline;"> </div>separately<div style="letter-spacing: 1.2pt;display: inline;"> </div>adopted<div style="letter-spacing: 1.25pt;display: inline;"> </div>the<div style="letter-spacing: 1.2pt;display: inline;"> </div><u>FTI<div style="letter-spacing: 1.15pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">Personal</div></u><div style="letter-spacing: 1.1pt;display: inline;"> </div><u>Investments<div style="letter-spacing: .45pt;display: inline;"> </div>and<div style="letter-spacing: .45pt;display: inline;"> </div>Insider<div style="letter-spacing: .5pt;display: inline;"> </div>Trading<div style="letter-spacing: .45pt;display: inline;"> </div>Policy<div style="letter-spacing: .5pt;display: inline;"> </div></u>governing<div style="letter-spacing: .5pt;display: inline;"> </div>personal<div style="letter-spacing: .5pt;display: inline;"> </div>securities<div style="letter-spacing: .5pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">trading</div><div style="letter-spacing: .5pt;display: inline;"> </div>and<div style="letter-spacing: .5pt;display: inline;"> </div>other<div style="letter-spacing: .5pt;display: inline;"> </div>related<div style="letter-spacing: 1.25pt;display: inline;">
</div>matters.<div style="letter-spacing: .25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">The</div><div style="letter-spacing: 1.65pt;display: inline;"> </div>Code<div style="letter-spacing: 1.65pt;display: inline;"> </div>for<div style="letter-spacing: 1.6pt;display: inline;"> </div>Insider<div style="letter-spacing: 1.6pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Trading</div><div style="letter-spacing: 1.65pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">provides</div><div style="letter-spacing: 1.6pt;display: inline;"> </div>for<div style="letter-spacing: 1.6pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">separate</div><div style="letter-spacing: 1.65pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">requirements</div><div style="letter-spacing: 1.65pt;display: inline;"> </div>that<div style="letter-spacing: 1.6pt;display: inline;"> </div>apply<div style="letter-spacing: 1.65pt;display: inline;"> </div>to<div style="letter-spacing: 1.65pt;display: inline;"> </div>the<div style="letter-spacing: 3.45pt;display: inline;"> </div>Covered<div style="letter-spacing: -.3pt;display: inline;">
</div>Officers<div style="letter-spacing: -.25pt;display: inline;"> </div>and<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">others,</div><div style="letter-spacing: -.3pt;display: inline;"> </div>and<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">therefore</div><div style="letter-spacing: -.25pt;display: inline;">
</div>is<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">not</div><div style="letter-spacing: -.25pt;display: inline;"> </div>part<div style="letter-spacing: -.25pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>this<div style="letter-spacing: -.3pt;display: inline;"> </div>Code.</div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 0in;margin-right: 5.85pt;margin-bottom: .0001pt;margin-left: 11.95pt">Insofar<div style="letter-spacing: 2.55pt;display: inline;"> </div>as<div style="letter-spacing: 2.55pt;display: inline;"> </div>other<div style="letter-spacing: 2.55pt;display: inline;">
</div>policies<div style="letter-spacing: 2.6pt;display: inline;"> </div>or<div style="letter-spacing: 2.55pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">procedures</div><div style="letter-spacing: 2.6pt;display: inline;"> </div>of<div style="letter-spacing: 2.6pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Franklin</div><div style="letter-spacing: 2.55pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">Resources,</div><div style="letter-spacing: 2.65pt;display: inline;"> </div>Inc.,<div style="letter-spacing: 2.5pt;display: inline;"> </div>the<div style="letter-spacing: 2.6pt;display: inline;"> </div>Funds,<div style="letter-spacing: 2.5pt;display: inline;"> </div>the<div style="letter-spacing: 2.35pt;display: inline;"> </div>Funds&#8217;<div style="letter-spacing: .15pt;display: inline;">
</div>adviser,<div style="letter-spacing: .15pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">principal</div><div style="letter-spacing: .15pt;display: inline;">
</div>underwriter,<div style="letter-spacing: .15pt;display: inline;"> </div>or<div style="letter-spacing: .15pt;display: inline;"> </div>other<div style="letter-spacing: .2pt;display: inline;"> </div>service<div style="letter-spacing: .15pt;display: inline;"> </div>providers<div style="letter-spacing: .15pt;display: inline;">
</div>govern<div style="letter-spacing: .15pt;display: inline;"> </div>or<div style="letter-spacing: .15pt;display: inline;"> </div>purport<div style="letter-spacing: .2pt;display: inline;"> </div>to<div style="letter-spacing: .15pt;display: inline;"> </div>govern<div style="letter-spacing: .15pt;display: inline;"> </div>the<div style="letter-spacing: 1.45pt;display: inline;"> </div>behavior<div style="letter-spacing: -.05pt;display: inline;">
</div>or<div style="letter-spacing: -.1pt;display: inline;"> </div>activities <div style="letter-spacing: -.05pt;display: inline;">of</div> <div style="letter-spacing: -.05pt;display: inline;">the</div>
Covered Officers <div style="letter-spacing: -.05pt;display: inline;">who</div><div style="letter-spacing: -.1pt;display: inline;"> </div>are subject<div style="letter-spacing: -.1pt;display: inline;"> </div>to this Code, they are <div style="letter-spacing: -.05pt;display: inline;">superceded</div><div style="letter-spacing: 1.45pt;display: inline;"> </div>by<div style="letter-spacing: .35pt;display: inline;"> </div>this<div style="letter-spacing: .4pt;display: inline;"> </div>Code<div style="letter-spacing: .4pt;display: inline;"> </div>to<div style="letter-spacing: .4pt;display: inline;"> </div>the<div style="letter-spacing: .4pt;display: inline;"> </div>extent<div style="letter-spacing: .4pt;display: inline;"> </div>that<div style="letter-spacing: .4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">they</div><div style="letter-spacing: .35pt;display: inline;"> </div>overlap<div style="letter-spacing: .4pt;display: inline;"> </div>or<div style="letter-spacing: .4pt;display: inline;"> </div>conflict<div style="letter-spacing: .4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">with</div><div style="letter-spacing: .35pt;display: inline;"> </div>the<div style="letter-spacing: .4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">provisions</div><div style="letter-spacing: .4pt;display: inline;"> </div>of<div style="letter-spacing: .4pt;display: inline;"> </div>this<div style="letter-spacing: .35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Code.</div><div style="letter-spacing: .8pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Please</div><div style="letter-spacing: 2.45pt;display: inline;"> </div>review these other documents or consult
with<div style="letter-spacing: .05pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">the</div> Legal <div style="letter-spacing: -.05pt;display: inline;">Department</div>
if have questions regarding<div style="letter-spacing: 1.1pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">applicability</div><div style="letter-spacing: -.3pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>these<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">policies</div><div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>you.</div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><div style="font-size: 10.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<h2 style="text-indent: -42.15pt;font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;font-weight: normal;margin-top: 0in;margin-right: 42.85pt;margin-bottom: .0001pt;margin-left: 48.0pt">III.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div><div style="letter-spacing: -.05pt;display: inline;">Covered Officers Should Handle</div><div style="letter-spacing: .05pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Ethically</div>
Actual and <div style="letter-spacing: -.05pt;display: inline;">Apparent</div> Conflicts of<div style="letter-spacing: 2.35pt;display: inline;"> </div>Interest</h2>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 0in;margin-right: 5.85pt;margin-bottom: .0001pt;margin-left: 12.0pt"><b>Overview.<div style="letter-spacing: 2.9pt;display: inline;"> </div></b>A<div style="letter-spacing: 2.95pt;display: inline;"> </div>"conflict<div style="letter-spacing: 2.9pt;display: inline;"> </div>of<div style="letter-spacing: 3.0pt;display: inline;"> </div>interest"<div style="letter-spacing: 2.9pt;display: inline;"> </div>occurs<div style="letter-spacing: 3.0pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">when</div><div style="letter-spacing: 3.0pt;display: inline;"> </div>a<div style="letter-spacing: 3.0pt;display: inline;"> </div>Covered<div style="letter-spacing: 3.0pt;display: inline;">
</div>Officer's<div style="letter-spacing: 3.0pt;display: inline;"> </div>private<div style="letter-spacing: 3.0pt;display: inline;"> </div>interest<div style="letter-spacing: 1.2pt;display: inline;">
</div>interferes<div style="letter-spacing: .2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">with</div><div style="letter-spacing: .25pt;display: inline;"> </div>the<div style="letter-spacing: .25pt;display: inline;"> </div>interests<div style="letter-spacing: .25pt;display: inline;">
</div>of,<div style="letter-spacing: .25pt;display: inline;"> </div>or<div style="letter-spacing: .25pt;display: inline;"> </div>his<div style="letter-spacing: .2pt;display: inline;"> </div>or<div style="letter-spacing: .25pt;display: inline;"> </div>her<div style="letter-spacing: .25pt;display: inline;"> </div>service<div style="letter-spacing: .25pt;display: inline;"> </div>to,<div style="letter-spacing: .25pt;display: inline;"> </div>the<div style="letter-spacing: .25pt;display: inline;"> </div>FT<div style="letter-spacing: .2pt;display: inline;"> </div>Funds.<div style="letter-spacing: .25pt;display: inline;"> </div>For<div style="letter-spacing: .25pt;display: inline;"> </div>example,<div style="letter-spacing: .35pt;display: inline;"> </div>a<div style="letter-spacing: .25pt;display: inline;"> </div>conflict<div style="letter-spacing: .25pt;display: inline;"> </div>of<div style="letter-spacing: 1.15pt;display: inline;"> </div>interest<div style="letter-spacing: .2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">would</div><div style="letter-spacing: .2pt;display: inline;"> </div>arise<div style="letter-spacing: .15pt;display: inline;"> </div>if<div style="letter-spacing: .2pt;display: inline;"> </div>a<div style="letter-spacing: .15pt;display: inline;"> </div>Covered<div style="letter-spacing: .2pt;display: inline;"> </div>Officer,<div style="letter-spacing: .2pt;display: inline;"> </div>or<div style="letter-spacing: .2pt;display: inline;"> </div>a<div style="letter-spacing: .2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">member</div><div style="letter-spacing: .2pt;display: inline;"> </div>of<div style="letter-spacing: .2pt;display: inline;"> </div>his<div style="letter-spacing: .2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">family,</div><div style="letter-spacing: .2pt;display: inline;"> </div>receives<div style="letter-spacing: .2pt;display: inline;"> </div>improper<div style="letter-spacing: .2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">personal</div><div style="letter-spacing: 2.15pt;display: inline;">
</div>benefits<div style="letter-spacing: -.25pt;display: inline;"> </div>as<div style="letter-spacing: -.3pt;display: inline;"> </div>a<div style="letter-spacing: -.25pt;display: inline;"> </div>result<div style="letter-spacing: -.25pt;display: inline;"> </div>of<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">apposition</div><div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">with</div><div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>FT<div style="letter-spacing: -.25pt;display: inline;"> </div>Funds.</div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 0in;margin-right: 5.8pt;margin-bottom: .0001pt;margin-left: 12.0pt">Certain<div style="letter-spacing: .55pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">conflicts</div><div style="letter-spacing: .55pt;display: inline;"> </div>of<div style="letter-spacing: .5pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">interest</div><div style="letter-spacing: .6pt;display: inline;"> </div>arise<div style="letter-spacing: .55pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">out</div><div style="letter-spacing: .55pt;display: inline;"> </div>of<div style="letter-spacing: .6pt;display: inline;"> </div>the<div style="letter-spacing: .55pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">relationships</div><div style="letter-spacing: .55pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">between</div><div style="letter-spacing: .6pt;display: inline;"> </div>Covered<div style="letter-spacing: .55pt;display: inline;"> </div>Officers<div style="letter-spacing: .45pt;display: inline;"> </div>and<div style="letter-spacing: 3.35pt;display: inline;"> </div>the<div style="letter-spacing: 2.9pt;display: inline;"> </div>FT<div style="letter-spacing: 2.9pt;display: inline;"> </div>Funds<div style="letter-spacing: 2.9pt;display: inline;"> </div>and<div style="letter-spacing: 2.9pt;display: inline;"> </div>already<div style="letter-spacing: 2.9pt;display: inline;"> </div>are<div style="letter-spacing: 2.9pt;display: inline;"> </div>subject<div style="letter-spacing: 2.9pt;display: inline;"> </div>to<div style="letter-spacing: 2.9pt;display: inline;"> </div>conflict<div style="letter-spacing: 2.9pt;display: inline;"> </div>of<div style="letter-spacing: 2.9pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">interest</div><div style="letter-spacing: 2.9pt;display: inline;">
</div>provisions<div style="letter-spacing: 2.9pt;display: inline;"> </div>in<div style="letter-spacing: 2.9pt;display: inline;"> </div>the<div style="letter-spacing: 2.9pt;display: inline;"> </div>Investment<div style="letter-spacing: 1.4pt;display: inline;"> </div>Company<div style="letter-spacing: 1.25pt;display: inline;">
</div>Act<div style="letter-spacing: 1.25pt;display: inline;"> </div>of<div style="letter-spacing: 1.3pt;display: inline;"> </div>1940<div style="letter-spacing: 1.25pt;display: inline;"> </div>("Investment<div style="letter-spacing: 1.3pt;display: inline;"> </div>Company<div style="letter-spacing: 1.35pt;display: inline;">
</div>Act")<div style="letter-spacing: 1.25pt;display: inline;"> </div>and<div style="letter-spacing: 1.25pt;display: inline;"> </div>the<div style="letter-spacing: 1.3pt;display: inline;"> </div>Investment<div style="letter-spacing: 1.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Advisers</div><div style="letter-spacing: 1.25pt;display: inline;"> </div>Act<div style="letter-spacing: 1.3pt;display: inline;"> </div>of<div style="letter-spacing: 1.25pt;display: inline;"> </div>1940<div style="letter-spacing: 1.1pt;display: inline;"> </div>("Investment<div style="letter-spacing: 2.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Advisers</div><div style="letter-spacing: 2.2pt;display: inline;"> </div>Act").<div style="letter-spacing: 2.25pt;display: inline;"> </div>For<div style="letter-spacing: 2.2pt;display: inline;"> </div>example,<div style="letter-spacing: 2.2pt;display: inline;"> </div>Covered<div style="letter-spacing: 2.25pt;display: inline;">
</div>Officers<div style="letter-spacing: 2.2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">may</div><div style="letter-spacing: 2.2pt;display: inline;"> </div>not<div style="letter-spacing: 2.25pt;display: inline;"> </div>individually<div style="letter-spacing: 2.2pt;display: inline;"> </div>engage<div style="letter-spacing: 2.2pt;display: inline;"> </div>in<div style="letter-spacing: 1.0pt;display: inline;"> </div>certain<div style="letter-spacing: .95pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">transactions</div><div style="letter-spacing: .95pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">(such</div><div style="letter-spacing: .95pt;display: inline;"> </div>as<div style="letter-spacing: .95pt;display: inline;"> </div>the<div style="letter-spacing: .95pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">purchase</div><div style="letter-spacing: .95pt;display: inline;"> </div>or<div style="letter-spacing: .9pt;display: inline;"> </div>sale<div style="letter-spacing: .95pt;display: inline;"> </div>of<div style="letter-spacing: .95pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">securities</div><div style="letter-spacing: .95pt;display: inline;"> </div>or<div style="letter-spacing: 1.0pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">other</div><div style="letter-spacing: .95pt;display: inline;"> </div>property)<div style="letter-spacing: .95pt;display: inline;"> </div>with<div style="letter-spacing: .95pt;display: inline;"> </div>the<div style="letter-spacing: .95pt;display: inline;"> </div>FT<div style="letter-spacing: 3.45pt;display: inline;"> </div>Funds<div style="letter-spacing: .8pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">because</div><div style="letter-spacing: .8pt;display: inline;"> </div>of<div style="letter-spacing: .8pt;display: inline;"> </div>their<div style="letter-spacing: .75pt;display: inline;"> </div>status<div style="letter-spacing: .8pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">as</div><div style="letter-spacing: .85pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">"affiliated</div><div style="letter-spacing: .75pt;display: inline;"> </div>persons"<div style="letter-spacing: .85pt;display: inline;"> </div>of<div style="letter-spacing: .8pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">the</div><div style="letter-spacing: .75pt;display: inline;"> </div>FT<div style="letter-spacing: .9pt;display: inline;"> </div>Funds.<div style="letter-spacing: .7pt;display: inline;"> </div>The<div style="letter-spacing: .9pt;display: inline;"> </div>FT<div style="letter-spacing: .85pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Funds&#8217;</div><div style="letter-spacing: .85pt;display: inline;"> </div>and<div style="letter-spacing: .8pt;display: inline;"> </div>the<div style="letter-spacing: 2.45pt;display: inline;"> </div>investment<div style="letter-spacing: .4pt;display: inline;"> </div>advisers&#8217;<div style="letter-spacing: .35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">compliance</div><div style="letter-spacing: .35pt;display: inline;"> </div>programs<div style="letter-spacing: .35pt;display: inline;"> </div>and<div style="letter-spacing: .4pt;display: inline;"> </div>procedures<div style="letter-spacing: .35pt;display: inline;">
</div>are<div style="letter-spacing: .35pt;display: inline;"> </div>designed<div style="letter-spacing: .4pt;display: inline;"> </div>to<div style="letter-spacing: .35pt;display: inline;"> </div>prevent,<div style="letter-spacing: .35pt;display: inline;"> </div>or<div style="letter-spacing: .35pt;display: inline;"> </div>identify<div style="letter-spacing: 1.0pt;display: inline;"> </div>and<div style="letter-spacing: -.1pt;display: inline;"> </div>correct,<div style="letter-spacing: -.15pt;display: inline;"> </div>violations<div style="letter-spacing: -.1pt;display: inline;"> </div>of<div style="letter-spacing: -.05pt;display: inline;"> </div>these<div style="letter-spacing: -.1pt;display: inline;"> </div>provisions.<div style="letter-spacing: -.1pt;display: inline;"> </div>This<div style="letter-spacing: -.1pt;display: inline;"> </div>Code<div style="letter-spacing: -.1pt;display: inline;"> </div>does not,<div style="letter-spacing: -.05pt;display: inline;">
</div>and<div style="letter-spacing: -.05pt;display: inline;"> </div>is not<div style="letter-spacing: -.05pt;display: inline;"> </div>intended<div style="letter-spacing: -.05pt;display: inline;">
</div>to,<div style="letter-spacing: -.05pt;display: inline;"> </div>repeat<div style="letter-spacing: -.05pt;display: inline;"> </div>or replace<div style="letter-spacing: -.2pt;display: inline;"> </div>these<div style="letter-spacing: -.15pt;display: inline;"> </div>programs<div style="letter-spacing: -.15pt;display: inline;"> </div>and<div style="letter-spacing: -.15pt;display: inline;"> </div>procedures,<div style="letter-spacing: -.2pt;display: inline;"> </div>and<div style="letter-spacing: -.15pt;display: inline;"> </div>such<div style="letter-spacing: -.15pt;display: inline;"> </div>conflicts<div style="letter-spacing: -.2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">fall</div><div style="letter-spacing: -.15pt;display: inline;"> </div>outside<div style="letter-spacing: -.15pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">of</div><div style="letter-spacing: -.2pt;display: inline;"> </div>the<div style="letter-spacing: -.15pt;display: inline;"> </div>parameters<div style="letter-spacing: -.2pt;display: inline;"> </div>of<div style="letter-spacing: -.15pt;display: inline;"> </div>this<div style="letter-spacing: 1.2pt;display: inline;"> </div>Code.</div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 0in;margin-right: 13.85pt;margin-bottom: .0001pt;margin-left: 12.0pt">Although<div style="letter-spacing: -.4pt;display: inline;"> </div>typically<div style="letter-spacing: -.4pt;display: inline;">
</div>not<div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">presenting</div><div style="letter-spacing: -.4pt;display: inline;"> </div>an<div style="letter-spacing: -.4pt;display: inline;"> </div>opportunity<div style="letter-spacing: -.4pt;display: inline;"> </div>for<div style="letter-spacing: -.4pt;display: inline;"> </div>improper<div style="letter-spacing: -.4pt;display: inline;"> </div>personal<div style="letter-spacing: -.4pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">benefit,</div><div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">conflicts</div><div style="letter-spacing: 2.45pt;display: inline;"> </div>arise<div style="letter-spacing: -.3pt;display: inline;"> </div>from,<div style="letter-spacing: -.3pt;display: inline;"> </div>or<div style="letter-spacing: -.25pt;display: inline;"> </div>as<div style="letter-spacing: -.3pt;display: inline;"> </div>a<div style="letter-spacing: -.25pt;display: inline;"> </div>result<div style="letter-spacing: -.35pt;display: inline;"> </div>of,<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">contractual</div><div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">relationship</div><div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">between</div><div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>FT<div style="letter-spacing: -.3pt;display: inline;"> </div>Funds,<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>investment<div style="letter-spacing: 2.55pt;display: inline;"> </div>advisers<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">and</div><div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>fund<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">administrator</div><div style="letter-spacing: -.3pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>which<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>Covered<div style="letter-spacing: -.3pt;display: inline;"> </div>Officers<div style="letter-spacing: -.3pt;display: inline;">
</div>are<div style="letter-spacing: -.3pt;display: inline;"> </div>also<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">officers</div><div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">or</div><div style="letter-spacing: 2.25pt;display: inline;"> </div>employees.<div style="letter-spacing: -.3pt;display: inline;"> </div>As<div style="letter-spacing: -.3pt;display: inline;"> </div>a<div style="letter-spacing: -.25pt;display: inline;"> </div>result,<div style="letter-spacing: -.3pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">this</div><div style="letter-spacing: -.25pt;display: inline;"> </div>Code<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">recognizes</div><div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">that</div><div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>Covered<div style="letter-spacing: -.25pt;display: inline;"> </div>Officers<div style="letter-spacing: -.35pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">will,</div><div style="letter-spacing: -.25pt;display: inline;"> </div>in<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">normal</div><div style="letter-spacing: 2.45pt;display: inline;"> </div>course<div style="letter-spacing: -.3pt;display: inline;">
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</div>for<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>FT<div style="letter-spacing: -.25pt;display: inline;"> </div>Funds,<div style="letter-spacing: -.3pt;display: inline;"> </div>for<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>adviser,<div style="letter-spacing: -.25pt;display: inline;">
</div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>administrator,<div style="letter-spacing: -.25pt;display: inline;"> </div>or</div>

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<div style="font-size: 8.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div>

<br clear="ALL">

<div style="text-indent: 0in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 3.55pt;margin-right: 20.4pt;margin-bottom: .0001pt;margin-left: 6.0pt">for<div style="letter-spacing: -.35pt;display: inline;"> </div>all<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">three),</div><div style="letter-spacing: -.3pt;display: inline;">
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</div>and<div style="letter-spacing: -.3pt;display: inline;"> </div>implementing<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">decisions</div><div style="letter-spacing: -.3pt;display: inline;"> </div>that<div style="letter-spacing: -.3pt;display: inline;"> </div>will<div style="letter-spacing: -.35pt;display: inline;"> </div>have<div style="letter-spacing: 1.35pt;display: inline;"> </div>different<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">effects</div><div style="letter-spacing: -.3pt;display: inline;"> </div>on<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">adviser,</div><div style="letter-spacing: -.3pt;display: inline;"> </div>administrator<div style="letter-spacing: -.3pt;display: inline;"> </div>and<div style="letter-spacing: -.35pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>FT<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Funds.</div><div style="letter-spacing: -.3pt;display: inline;"> </div>The<div style="letter-spacing: -.3pt;display: inline;"> </div>participation<div style="letter-spacing: -.3pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">the</div><div style="letter-spacing: 2.05pt;display: inline;"> </div>Covered<div style="letter-spacing: -.35pt;display: inline;"> </div>Officers<div style="letter-spacing: -.3pt;display: inline;">
</div>in<div style="letter-spacing: -.35pt;display: inline;"> </div>such<div style="letter-spacing: -.35pt;display: inline;"> </div>activities<div style="letter-spacing: -.35pt;display: inline;"> </div>is<div style="letter-spacing: -.35pt;display: inline;"> </div>inherent<div style="letter-spacing: -.3pt;display: inline;"> </div>in<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">the</div><div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">contractual</div><div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">relationship</div><div style="letter-spacing: -.3pt;display: inline;"> </div>between<div style="letter-spacing: -.3pt;display: inline;">
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</div><div style="letter-spacing: -.05pt;display: inline;">Thus,</div><div style="letter-spacing: -.25pt;display: inline;"> </div>if<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">performed</div><div style="letter-spacing: -.25pt;display: inline;">
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</div><div style="letter-spacing: -.05pt;display: inline;">Act</div><div style="letter-spacing: -.3pt;display: inline;"> </div>and<div style="letter-spacing: -.35pt;display: inline;"> </div>the<div style="letter-spacing: -.35pt;display: inline;"> </div>Investment<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Advisers</div><div style="letter-spacing: -.3pt;display: inline;"> </div>Act,<div style="letter-spacing: -.3pt;display: inline;"> </div>such<div style="letter-spacing: 1.2pt;display: inline;"> </div>activities<div style="letter-spacing: -.3pt;display: inline;"> </div>will<div style="letter-spacing: -.25pt;display: inline;"> </div>be<div style="letter-spacing: -.25pt;display: inline;"> </div>deemed<div style="letter-spacing: -.25pt;display: inline;">
</div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>have<div style="letter-spacing: -.25pt;display: inline;"> </div>been<div style="letter-spacing: -.25pt;display: inline;"> </div>handled<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">ethically.</div><div style="letter-spacing: -.25pt;display: inline;"> </div>In<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">addition,</div><div style="letter-spacing: -.3pt;display: inline;">
</div>it<div style="letter-spacing: -.3pt;display: inline;"> </div>is<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">recognized</div><div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">by</div><div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>FT<div style="letter-spacing: 2.65pt;display: inline;"> </div>Funds'<div style="letter-spacing: -.3pt;display: inline;">
</div>Boards<div style="letter-spacing: -.3pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Directors</div><div style="letter-spacing: -.3pt;display: inline;"> </div>("Boards")<div style="letter-spacing: -.3pt;display: inline;"> </div>that<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>Covered<div style="letter-spacing: -.3pt;display: inline;">
</div>Officers<div style="letter-spacing: -.25pt;display: inline;"> </div>may<div style="letter-spacing: -.3pt;display: inline;"> </div>also<div style="letter-spacing: -.3pt;display: inline;"> </div>be<div style="letter-spacing: -.3pt;display: inline;"> </div>officers<div style="letter-spacing: -.3pt;display: inline;">
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</div><div style="letter-spacing: -.05pt;display: inline;">covered</div><div style="letter-spacing: -.25pt;display: inline;"> </div>by<div style="letter-spacing: -.3pt;display: inline;"> </div>this<div style="letter-spacing: -.3pt;display: inline;"> </div>or<div style="letter-spacing: -.3pt;display: inline;"> </div>other<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">codes.</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .2pt;margin-bottom: .0001pt"><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 0in;margin-right: 10.55pt;margin-bottom: .0001pt;margin-left: 6.0pt">Other<div style="letter-spacing: -.3pt;display: inline;"> </div>conflicts<div style="letter-spacing: -.25pt;display: inline;">
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</div>list<div style="letter-spacing: -.35pt;display: inline;"> </div>provides<div style="letter-spacing: -.3pt;display: inline;"> </div>examples<div style="letter-spacing: -.3pt;display: inline;">
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</div>under<div style="letter-spacing: -.4pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>Code,<div style="letter-spacing: -.3pt;display: inline;"> </div>but<div style="letter-spacing: -.3pt;display: inline;"> </div>Covered<div style="letter-spacing: -.3pt;display: inline;">
</div>Officers<div style="letter-spacing: 1.35pt;display: inline;"> </div>should<div style="letter-spacing: -.3pt;display: inline;"> </div>keep<div style="letter-spacing: -.35pt;display: inline;"> </div>in<div style="letter-spacing: -.3pt;display: inline;"> </div>mind<div style="letter-spacing: -.3pt;display: inline;"> </div>that<div style="letter-spacing: -.3pt;display: inline;"> </div>these<div style="letter-spacing: -.3pt;display: inline;"> </div>examples<div style="letter-spacing: -.3pt;display: inline;"> </div>are<div style="letter-spacing: -.3pt;display: inline;"> </div>not<div style="letter-spacing: -.3pt;display: inline;"> </div>exhaustive.<div style="letter-spacing: -.3pt;display: inline;"> </div>The<div style="letter-spacing: -.3pt;display: inline;"> </div>overarching<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">principle</div><div style="letter-spacing: -.3pt;display: inline;"> </div>is<div style="letter-spacing: -.3pt;display: inline;"> </div>that<div style="letter-spacing: 1.35pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>personal<div style="letter-spacing: -.3pt;display: inline;"> </div>interest<div style="letter-spacing: -.25pt;display: inline;">
</div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>a<div style="letter-spacing: -.3pt;display: inline;"> </div>Covered<div style="letter-spacing: -.3pt;display: inline;"> </div>Officer<div style="letter-spacing: -.3pt;display: inline;"> </div>should<div style="letter-spacing: -.3pt;display: inline;"> </div>not<div style="letter-spacing: -.3pt;display: inline;"> </div>be<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">placed</div><div style="letter-spacing: -.3pt;display: inline;"> </div>improperly<div style="letter-spacing: -.25pt;display: inline;"> </div>before<div style="letter-spacing: -.3pt;display: inline;">
</div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>interest<div style="letter-spacing: -.25pt;display: inline;"> </div>of<div style="letter-spacing: 1.3pt;display: inline;"> </div>the<div style="letter-spacing: -.35pt;display: inline;"> </div>FT<div style="letter-spacing: -.3pt;display: inline;"> </div>Funds.</div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .45pt;margin-bottom: .0001pt"><div style="font-size: 9.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: 0in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 6.0pt">Each<div style="letter-spacing: -.45pt;display: inline;"> </div>Covered<div style="letter-spacing: -.4pt;display: inline;">
</div>Officer<div style="letter-spacing: -.45pt;display: inline;"> </div>must:</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 6.6pt;margin-right: 10.55pt;margin-bottom: .0001pt;margin-left: 42.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div><div style="letter-spacing: -.05pt;display: inline;">Not</div><div style="letter-spacing: -.35pt;display: inline;"> </div>use<div style="letter-spacing: -.3pt;display: inline;"> </div>his<div style="letter-spacing: -.35pt;display: inline;"> </div>or<div style="letter-spacing: -.35pt;display: inline;"> </div>her<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">personal</div><div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">influence</div><div style="letter-spacing: -.35pt;display: inline;"> </div>or<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">personal</div><div style="letter-spacing: -.3pt;display: inline;">
</div>relationships<div style="letter-spacing: -.35pt;display: inline;"> </div>improperly<div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: -.3pt;display: inline;"> </div>influence<div style="letter-spacing: 2.45pt;display: inline;"> </div>investment<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">decisions</div><div style="letter-spacing: -.35pt;display: inline;"> </div>or<div style="letter-spacing: -.35pt;display: inline;"> </div>financial<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">reporting</div><div style="letter-spacing: -.3pt;display: inline;"> </div>by<div style="letter-spacing: -.35pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>FT<div style="letter-spacing: -.35pt;display: inline;"> </div>Funds<div style="letter-spacing: -.35pt;display: inline;"> </div>whereby<div style="letter-spacing: -.35pt;display: inline;">
</div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>Covered<div style="letter-spacing: -.3pt;display: inline;"> </div>Officer<div style="letter-spacing: 1.7pt;display: inline;">
</div>would<div style="letter-spacing: -.3pt;display: inline;"> </div>benefit<div style="letter-spacing: -.3pt;display: inline;"> </div>personally<div style="letter-spacing: -.35pt;display: inline;"> </div>to<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>detriment<div style="letter-spacing: -.25pt;display: inline;">
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<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 5.8pt;margin-right: 20.4pt;margin-bottom: .0001pt;margin-left: 42.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div><div style="letter-spacing: -.05pt;display: inline;">Not</div><div style="letter-spacing: -.25pt;display: inline;"> </div>cause<div style="letter-spacing: -.25pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">the</div><div style="letter-spacing: -.2pt;display: inline;"> </div>FT<div style="letter-spacing: -.25pt;display: inline;"> </div>Funds<div style="letter-spacing: -.25pt;display: inline;"> </div>to<div style="letter-spacing: -.2pt;display: inline;"> </div>take<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">action,</div><div style="letter-spacing: -.25pt;display: inline;"> </div>or<div style="letter-spacing: -.2pt;display: inline;"> </div>fail<div style="letter-spacing: -.25pt;display: inline;"> </div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>take<div style="letter-spacing: -.25pt;display: inline;"> </div>action,<div style="letter-spacing: -.3pt;display: inline;">
</div>for<div style="letter-spacing: -.2pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>individual<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">personal</div><div style="letter-spacing: 1.65pt;display: inline;">
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</div><div style="letter-spacing: -.05pt;display: inline;">or</div><div style="letter-spacing: -.25pt;display: inline;"> </div>private<div style="letter-spacing: -.25pt;display: inline;"> </div>Company.</div>

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</div>Officer</div></div>

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<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 2.95pt;margin-right: 35.6pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
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<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 5.75pt;margin-right: 11.7pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
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</div>dealings<div style="letter-spacing: -.4pt;display: inline;"> </div>unless<div style="letter-spacing: -.45pt;display: inline;"> </div>such<div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">entertainment</div><div style="letter-spacing: -.4pt;display: inline;"> </div>is<div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">business</div><div style="letter-spacing: -.35pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">related,</div><div style="letter-spacing: 4.15pt;display: inline;"> </div>reasonable<div style="letter-spacing: -.25pt;display: inline;"> </div>in<div style="letter-spacing: -.25pt;display: inline;"> </div>cost,<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">appropriate</div><div style="letter-spacing: -.2pt;display: inline;"> </div>as<div style="letter-spacing: -.25pt;display: inline;"> </div>to<div style="letter-spacing: -.3pt;display: inline;"> </div>time<div style="letter-spacing: -.25pt;display: inline;"> </div>and<div style="letter-spacing: -.2pt;display: inline;"> </div>place,<div style="letter-spacing: -.25pt;display: inline;">
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<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 5.8pt;margin-right: 16.05pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div><div style="letter-spacing: -.05pt;display: inline;">Any</div><div style="letter-spacing: -.3pt;display: inline;"> </div>ownership<div style="letter-spacing: -.3pt;display: inline;">
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<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 5.75pt;margin-right: 11.7pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>A<div style="letter-spacing: -.35pt;display: inline;"> </div>direct<div style="letter-spacing: -.35pt;display: inline;"> </div>or<div style="letter-spacing: -.3pt;display: inline;"> </div>indirect<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">financial</div><div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">interest</div><div style="letter-spacing: -.35pt;display: inline;"> </div>in<div style="letter-spacing: -.3pt;display: inline;"> </div>commissions,<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">transaction</div><div style="letter-spacing: -.35pt;display: inline;"> </div>charges<div style="letter-spacing: -.35pt;display: inline;">
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</div>Officer's<div style="letter-spacing: -.3pt;display: inline;"> </div>employment,<div style="letter-spacing: -.3pt;display: inline;"> </div>such<div style="letter-spacing: -.3pt;display: inline;"> </div>as<div style="letter-spacing: 1.05pt;display: inline;"> </div>compensation<div style="letter-spacing: -.55pt;display: inline;"> </div>or<div style="letter-spacing: -.55pt;display: inline;"> </div>equity<div style="letter-spacing: -.55pt;display: inline;"> </div>ownership.</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 5.75pt;margin-right: 10.55pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div>Franklin<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Resources</div><div style="letter-spacing: -.3pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">General</div><div style="letter-spacing: -.3pt;display: inline;"> </div>Counsel<div style="letter-spacing: -.25pt;display: inline;">
</div>or<div style="letter-spacing: -.3pt;display: inline;"> </div>Deputy<div style="letter-spacing: -.3pt;display: inline;"> </div>General<div style="letter-spacing: -.3pt;display: inline;">
</div>Counsel<div style="letter-spacing: -.25pt;display: inline;"> </div>will<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">provide</div><div style="letter-spacing: -.3pt;display: inline;"> </div>a<div style="letter-spacing: -.25pt;display: inline;"> </div>report<div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: 2.05pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>FT<div style="letter-spacing: -.25pt;display: inline;"> </div>Funds<div style="letter-spacing: -.25pt;display: inline;"> </div>Audit<div style="letter-spacing: -.3pt;display: inline;"> </div>Committee<div style="letter-spacing: -.25pt;display: inline;"> </div>of<div style="letter-spacing: -.25pt;display: inline;"> </div>any<div style="letter-spacing: -.3pt;display: inline;"> </div>approvals<div style="letter-spacing: -.25pt;display: inline;">
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<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<h2 style="text-indent: -43.45pt;font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;font-weight: normal;margin-top: 6.55pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 48.95pt">IV.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Disclosure and Compliance</h2>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .3pt;margin-bottom: .0001pt"><div style="font-size: 9.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 0in;margin-right: 46.0pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div><div style="letter-spacing: -.05pt;display: inline;">Each</div><div style="letter-spacing: -.45pt;display: inline;"> </div>Covered<div style="letter-spacing: -.4pt;display: inline;">
</div>Officer<div style="letter-spacing: -.4pt;display: inline;"> </div>should<div style="letter-spacing: -.4pt;display: inline;"> </div>familiarize<div style="letter-spacing: -.4pt;display: inline;"> </div>himself<div style="letter-spacing: -.4pt;display: inline;"> </div>with<div style="letter-spacing: -.4pt;display: inline;"> </div>the<div style="letter-spacing: -.4pt;display: inline;"> </div>disclosure<div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">requirements</div><div style="letter-spacing: 1.4pt;display: inline;"> </div>generally<div style="letter-spacing: -.35pt;display: inline;">
</div>applicable<div style="letter-spacing: -.35pt;display: inline;"> </div>to<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">the</div><div style="letter-spacing: -.35pt;display: inline;"> </div>FT<div style="letter-spacing: -.35pt;display: inline;"> </div>Funds;</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 5.75pt;margin-right: 11.7pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
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</div>misrepresent,<div style="letter-spacing: -.35pt;display: inline;"> </div>or<div style="letter-spacing: -.45pt;display: inline;"> </div>cause<div style="letter-spacing: -.35pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">others</div><div style="letter-spacing: -.35pt;display: inline;"> </div>to<div style="letter-spacing: 1.55pt;display: inline;"> </div>misrepresent,<div style="letter-spacing: -.3pt;display: inline;"> </div>facts<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">about</div><div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>FT<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Funds</div><div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>others,<div style="letter-spacing: -.35pt;display: inline;">
</div>whether<div style="letter-spacing: -.25pt;display: inline;"> </div>within<div style="letter-spacing: -.3pt;display: inline;"> </div>or<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">outside</div><div style="letter-spacing: -.25pt;display: inline;">
</div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>FT<div style="letter-spacing: 1.45pt;display: inline;"> </div>Funds,<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">including</div><div style="letter-spacing: -.35pt;display: inline;">
</div>to<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">FT</div><div style="letter-spacing: -.3pt;display: inline;"> </div>Funds&#8217;<div style="letter-spacing: -.35pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">directors</div><div style="letter-spacing: -.3pt;display: inline;"> </div>and<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">auditors,</div><div style="letter-spacing: -.35pt;display: inline;">
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<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 5.8pt;margin-right: 11.7pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
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<h2 style="text-indent: -40.1pt;font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;font-weight: normal;margin-top: 6.5pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 48.95pt">V.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div><div style="letter-spacing: -.05pt;display: inline;">Reporting</div><div style="letter-spacing: .05pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">and
Accountability</div></h2>

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<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 5.9pt;margin-right: 46.0pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
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</div></div><div style="letter-spacing: -.05pt;display: inline;">Notify</div><div style="letter-spacing: -.35pt;display: inline;"> </div>Franklin<div style="letter-spacing: -.4pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">Resources&#8217;</div><div style="letter-spacing: -.35pt;display: inline;"> </div>General<div style="letter-spacing: -.35pt;display: inline;">
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<div style="font-size: 8.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div>

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<div style="text-indent: 0in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 3.55pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 49.0pt">Code.</div>

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<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 6.05pt;margin-right: 19.1pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
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</div><div style="letter-spacing: -.05pt;display: inline;">or</div><div style="letter-spacing: -.3pt;display: inline;"> </div>Deputy<div style="letter-spacing: -.35pt;display: inline;"> </div>General<div style="letter-spacing: -.35pt;display: inline;"> </div>Counsel<div style="letter-spacing: -.35pt;display: inline;">
</div>believes<div style="letter-spacing: 1.5pt;display: inline;"> </div>that<div style="letter-spacing: -.3pt;display: inline;"> </div>no<div style="letter-spacing: -.25pt;display: inline;"> </div>violation<div style="letter-spacing: -.3pt;display: inline;"> </div>has<div style="letter-spacing: -.25pt;display: inline;"> </div>occurred,<div style="letter-spacing: -.25pt;display: inline;"> </div>The<div style="letter-spacing: -.3pt;display: inline;"> </div>General<div style="letter-spacing: -.25pt;display: inline;"> </div>Counsel<div style="letter-spacing: -.3pt;display: inline;">
</div>is<div style="letter-spacing: -.3pt;display: inline;"> </div>not<div style="letter-spacing: -.3pt;display: inline;"> </div>required<div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">take</div><div style="letter-spacing: -.25pt;display: inline;"> </div>any<div style="letter-spacing: -.3pt;display: inline;"> </div>further<div style="letter-spacing: 1.15pt;display: inline;"> </div>action;</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 6.05pt;margin-right: 16.05pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
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</div><div style="letter-spacing: -.05pt;display: inline;">believes</div><div style="letter-spacing: -.3pt;display: inline;"> </div>is<div style="letter-spacing: -.3pt;display: inline;"> </div>a<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">violation</div><div style="letter-spacing: 2.15pt;display: inline;"> </div>will<div style="letter-spacing: -.3pt;display: inline;"> </div>be<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">reported</div><div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Independent</div><div style="letter-spacing: -.25pt;display: inline;"> </div>Directors<div style="letter-spacing: -.3pt;display: inline;"> </div>of<div style="letter-spacing: -.35pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">appropriate</div><div style="letter-spacing: -.3pt;display: inline;"> </div>FT<div style="letter-spacing: -.25pt;display: inline;"> </div>Fund;</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 6.05pt;margin-right: 6.25pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
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</div>it<div style="letter-spacing: -.3pt;display: inline;"> </div>will<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">inform</div><div style="letter-spacing: -.3pt;display: inline;"> </div>and<div style="letter-spacing: -.25pt;display: inline;"> </div>make<div style="letter-spacing: 3.45pt;display: inline;"> </div>a<div style="letter-spacing: -.3pt;display: inline;"> </div>recommendation<div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.35pt;display: inline;"> </div>Board<div style="letter-spacing: -.25pt;display: inline;">
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</div>appropriate<div style="letter-spacing: -.45pt;display: inline;"> </div>action,<div style="letter-spacing: -.35pt;display: inline;"> </div>which<div style="letter-spacing: -.35pt;display: inline;">
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</div><div style="letter-spacing: -.05pt;display: inline;">of</div><div style="letter-spacing: -.4pt;display: inline;"> </div>the<div style="letter-spacing: 2.75pt;display: inline;"> </div>investment<div style="letter-spacing: -.35pt;display: inline;"> </div>adviser<div style="letter-spacing: -.3pt;display: inline;">
</div>or<div style="letter-spacing: -.3pt;display: inline;"> </div>its<div style="letter-spacing: -.35pt;display: inline;"> </div>board;<div style="letter-spacing: -.3pt;display: inline;"> </div>or<div style="letter-spacing: -.35pt;display: inline;"> </div>a<div style="letter-spacing: -.3pt;display: inline;"> </div>recommendation<div style="letter-spacing: -.35pt;display: inline;"> </div>to<div style="letter-spacing: -.3pt;display: inline;"> </div>dismiss<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.35pt;display: inline;"> </div>Covered<div style="letter-spacing: -.3pt;display: inline;"> </div>Officer;</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 6.05pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
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</div>waivers,<div style="letter-spacing: -.35pt;display: inline;"> </div>as<div style="letter-spacing: -.35pt;display: inline;"> </div>appropriate;<div style="letter-spacing: -.4pt;display: inline;"> </div>and</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 5.9pt;margin-right: 35.6pt;margin-bottom: .0001pt;margin-left: 49.0pt"><div style="font-family: Symbol;display: inline;">&#183;<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div></div><div style="letter-spacing: -.05pt;display: inline;">Any</div><div style="letter-spacing: -.25pt;display: inline;"> </div>changes<div style="letter-spacing: -.25pt;display: inline;">
</div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>or<div style="letter-spacing: -.25pt;display: inline;"> </div>waivers<div style="letter-spacing: -.2pt;display: inline;"> </div>of<div style="letter-spacing: -.25pt;display: inline;"> </div>this<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Code</div><div style="letter-spacing: -.25pt;display: inline;"> </div>will,<div style="letter-spacing: -.25pt;display: inline;"> </div>to<div style="letter-spacing: -.2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">the</div><div style="letter-spacing: -.25pt;display: inline;"> </div>extent<div style="letter-spacing: -.25pt;display: inline;"> </div>required,<div style="letter-spacing: -.25pt;display: inline;"> </div>are<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">disclosed</div><div style="letter-spacing: -.25pt;display: inline;">
</div>as<div style="letter-spacing: 1.55pt;display: inline;"> </div>provided<div style="letter-spacing: -.35pt;display: inline;"> </div>by<div style="letter-spacing: -.3pt;display: inline;"> </div>SEC<div style="letter-spacing: -.35pt;display: inline;"> </div>rules.<div style="font-size: 7.0pt;position: relative;top: -3.5pt;display: inline;">5</div></div>

<h2 style="text-indent: -43.45pt;font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;font-weight: normal;margin-top: 6.1pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 48.95pt">VI.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Other Policies and Procedures</h2>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

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</div>of<div style="letter-spacing: 1.45pt;display: inline;"> </div>Section<div style="letter-spacing: 2.3pt;display: inline;"> </div>406<div style="letter-spacing: 2.3pt;display: inline;"> </div>of<div style="letter-spacing: 2.3pt;display: inline;"> </div>the<div style="letter-spacing: 2.35pt;display: inline;"> </div>Sarbanes-Oxley<div style="letter-spacing: 2.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Act</div><div style="letter-spacing: 2.3pt;display: inline;"> </div>and<div style="letter-spacing: 2.35pt;display: inline;"> </div>the<div style="letter-spacing: 2.35pt;display: inline;"> </div>rules<div style="letter-spacing: 2.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">and</div><div style="letter-spacing: 2.35pt;display: inline;"> </div>forms<div style="letter-spacing: 2.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">applicable</div><div style="letter-spacing: 2.4pt;display: inline;"> </div>to<div style="letter-spacing: 2.3pt;display: inline;"> </div>registered<div style="letter-spacing: 1.35pt;display: inline;"> </div>investment<div style="letter-spacing: 1.1pt;display: inline;"> </div>companies<div style="letter-spacing: 1.05pt;display: inline;"> </div>thereunder.<div style="letter-spacing: 1.05pt;display: inline;"> </div>Insofar<div style="letter-spacing: 1.05pt;display: inline;">
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</div><div style="letter-spacing: -.05pt;display: inline;">underwriter,</div><div style="letter-spacing: .65pt;display: inline;"> </div>or<div style="letter-spacing: .7pt;display: inline;"> </div>other<div style="letter-spacing: .65pt;display: inline;"> </div>service<div style="letter-spacing: .65pt;display: inline;">
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</div><div style="letter-spacing: -.05pt;display: inline;">with</div><div style="letter-spacing: .6pt;display: inline;"> </div>the<div style="letter-spacing: .65pt;display: inline;"> </div>provisions<div style="letter-spacing: .6pt;display: inline;"> </div>of<div style="letter-spacing: .6pt;display: inline;"> </div>this<div style="letter-spacing: 1.15pt;display: inline;"> </div>Code.<div style="letter-spacing: -.25pt;display: inline;">
</div>The<div style="letter-spacing: -.2pt;display: inline;"> </div>FTI<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Personal</div><div style="letter-spacing: -.25pt;display: inline;"> </div>Investments<div style="letter-spacing: -.2pt;display: inline;"> </div>and<div style="letter-spacing: -.25pt;display: inline;"> </div>Insider<div style="letter-spacing: -.25pt;display: inline;"> </div>Trading<div style="letter-spacing: -.2pt;display: inline;">
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</div>and<div style="letter-spacing: 1.8pt;display: inline;"> </div>FT<div style="letter-spacing: 1.8pt;display: inline;"> </div>Fund&#8217;s<div style="letter-spacing: 1.8pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">principal</div><div style="letter-spacing: 1.7pt;display: inline;">
</div>underwriter<div style="letter-spacing: 1.8pt;display: inline;"> </div>pursuant<div style="letter-spacing: 1.8pt;display: inline;"> </div>to<div style="letter-spacing: 1.7pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Rule</div><div style="letter-spacing: 1.8pt;display: inline;"> </div>17j-1<div style="letter-spacing: 1.8pt;display: inline;"> </div>under<div style="letter-spacing: 1.8pt;display: inline;"> </div>the<div style="letter-spacing: 1.2pt;display: inline;"> </div>Investment<div style="letter-spacing: 2.75pt;display: inline;"> </div>Company<div style="letter-spacing: 2.7pt;display: inline;"> </div>Act,<div style="letter-spacing: 2.7pt;display: inline;"> </div>the<div style="letter-spacing: 2.7pt;display: inline;"> </div>Code<div style="letter-spacing: 2.7pt;display: inline;"> </div>of<div style="letter-spacing: 2.7pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Ethics</div><div style="letter-spacing: 2.7pt;display: inline;"> </div>and<div style="letter-spacing: 2.7pt;display: inline;"> </div>Business<div style="letter-spacing: 2.7pt;display: inline;">
</div>Conduct<div style="letter-spacing: 2.7pt;display: inline;"> </div>and<div style="letter-spacing: 2.7pt;display: inline;"> </div>more<div style="letter-spacing: 2.75pt;display: inline;"> </div>detailed<div style="letter-spacing: 1.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">policies</div><div style="letter-spacing: 2.1pt;display: inline;"> </div>and<div style="letter-spacing: 2.05pt;display: inline;"> </div>procedures<div style="letter-spacing: 2.15pt;display: inline;"> </div>set<div style="letter-spacing: 2.1pt;display: inline;"> </div>forth<div style="letter-spacing: 2.15pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">in</div><div style="letter-spacing: 2.1pt;display: inline;"> </div>FT&#8217;s<div style="letter-spacing: 2.15pt;display: inline;"> </div>Employee<div style="letter-spacing: 2.1pt;display: inline;"> </div>Handbook<div style="letter-spacing: 2.1pt;display: inline;">
</div>are<div style="letter-spacing: 2.15pt;display: inline;"> </div>separate<div style="letter-spacing: 2.1pt;display: inline;"> </div>requirements<div style="letter-spacing: 1.4pt;display: inline;"> </div>applying<div style="letter-spacing: -.25pt;display: inline;"> </div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>Covered<div style="letter-spacing: -.2pt;display: inline;"> </div>Officers<div style="letter-spacing: -.25pt;display: inline;">
</div>and<div style="letter-spacing: -.3pt;display: inline;"> </div>others,<div style="letter-spacing: -.25pt;display: inline;"> </div>and<div style="letter-spacing: -.3pt;display: inline;"> </div>are<div style="letter-spacing: -.25pt;display: inline;"> </div>not<div style="letter-spacing: -.25pt;display: inline;"> </div>part<div style="letter-spacing: -.25pt;display: inline;"> </div>of<div style="letter-spacing: -.25pt;display: inline;"> </div>this<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Code.</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .05pt;margin-bottom: .0001pt"><div style="font-size: 13.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;line-height: 1.0pt;margin-left: 12.65pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 1.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;"><img width="194" height="2" src="word4788888535042.gif"></div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;text-align: justify;line-height: 9.5pt;margin-left: 12.95pt;margin-right: 9.1pt;margin-top: 4.1pt;margin-bottom: .0001pt"><div style="font-size: 6.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;position: relative;top: -3.5pt;display: inline;">3<div style="letter-spacing: .65pt;display: inline;"> </div></div><div style="font-size: 8.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">Franklin<div style="letter-spacing: -.25pt;display: inline;"> </div>Resources<div style="letter-spacing: -.2pt;display: inline;"> </div>General<div style="letter-spacing: -.2pt;display: inline;"> </div>Counsel<div style="letter-spacing: -.2pt;display: inline;"> </div>and<div style="letter-spacing: -.2pt;display: inline;"> </div>Deputy<div style="letter-spacing: -.2pt;display: inline;"> </div>General<div style="letter-spacing: -.2pt;display: inline;">
</div>Counsel<div style="letter-spacing: -.15pt;display: inline;"> </div>are<div style="letter-spacing: -.2pt;display: inline;"> </div>authorized<div style="letter-spacing: -.25pt;display: inline;"> </div>to<div style="letter-spacing: -.2pt;display: inline;"> </div>consult,<div style="letter-spacing: -.2pt;display: inline;"> </div>as<div style="letter-spacing: -.2pt;display: inline;"> </div>appropriate,<div style="letter-spacing: -.15pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">with</div><div style="letter-spacing: -.25pt;display: inline;"> </div>members<div style="letter-spacing: -.2pt;display: inline;">
</div>of<div style="letter-spacing: -.2pt;display: inline;"> </div>the<div style="letter-spacing: 1.5pt;display: inline;"> </div>Audit<div style="letter-spacing: -.25pt;display: inline;"> </div>Committee,<div style="letter-spacing: -.15pt;display: inline;"> </div>counsel<div style="letter-spacing: -.2pt;display: inline;">
</div>to<div style="letter-spacing: -.2pt;display: inline;"> </div>the<div style="letter-spacing: -.2pt;display: inline;"> </div>FT<div style="letter-spacing: -.25pt;display: inline;"> </div>Funds<div style="letter-spacing: -.2pt;display: inline;"> </div>and<div style="letter-spacing: -.2pt;display: inline;"> </div>counsel<div style="letter-spacing: -.2pt;display: inline;"> </div>to<div style="letter-spacing: -.2pt;display: inline;"> </div>the<div style="letter-spacing: -.2pt;display: inline;"> </div>Independent<div style="letter-spacing: -.2pt;display: inline;"> </div>Directors,<div style="letter-spacing: -.25pt;display: inline;"> </div>and<div style="letter-spacing: -.2pt;display: inline;"> </div>are<div style="letter-spacing: -.2pt;display: inline;"> </div>encouraged<div style="letter-spacing: -.2pt;display: inline;"> </div>to<div style="letter-spacing: -.2pt;display: inline;"> </div>do<div style="letter-spacing: -.2pt;display: inline;"> </div>so.</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;text-align: justify;line-height: 9.5pt;margin-left: 12.95pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 8.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;position: relative;top: -4.0pt;display: inline;">4<div style="letter-spacing: 1.2pt;display: inline;"> </div></div><div style="font-size: 8.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">Item<div style="letter-spacing: .25pt;display: inline;"> </div>2<div style="letter-spacing: .25pt;display: inline;"> </div>of<div style="letter-spacing: .2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Form</div><div style="letter-spacing: .3pt;display: inline;"> </div>N-CSR<div style="letter-spacing: .25pt;display: inline;"> </div>defines<div style="letter-spacing: .2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">"waiver"</div><div style="letter-spacing: .25pt;display: inline;"> </div>as<div style="letter-spacing: .25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">"the</div><div style="letter-spacing: .25pt;display: inline;">
</div>approval<div style="letter-spacing: .2pt;display: inline;"> </div>by<div style="letter-spacing: .15pt;display: inline;"> </div>the<div style="letter-spacing: .25pt;display: inline;"> </div>registrant<div style="letter-spacing: .2pt;display: inline;"> </div>of<div style="letter-spacing: .25pt;display: inline;"> </div>a<div style="letter-spacing: .25pt;display: inline;"> </div>material<div style="letter-spacing: .25pt;display: inline;">
</div>departure<div style="letter-spacing: .25pt;display: inline;"> </div>from<div style="letter-spacing: .25pt;display: inline;"> </div>a<div style="letter-spacing: .25pt;display: inline;"> </div>provision<div style="letter-spacing: .2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">of</div><div style="letter-spacing: .25pt;display: inline;"> </div>the<div style="letter-spacing: .25pt;display: inline;"> </div>code<div style="letter-spacing: .25pt;display: inline;"> </div>of</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;text-align: justify;line-height: 104%;margin-left: 12.95pt;margin-right: 5.95pt;margin-top: .4pt;margin-bottom: .0001pt"><div style="font-size: 8.0pt;line-height: 104%;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">ethics"<div style="letter-spacing: .5pt;display: inline;"> </div>and<div style="letter-spacing: .5pt;display: inline;"> </div>"implicit<div style="letter-spacing: .5pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">waiver,"</div><div style="letter-spacing: .6pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">which</div><div style="letter-spacing: .5pt;display: inline;"> </div>must<div style="letter-spacing: .5pt;display: inline;"> </div>also<div style="letter-spacing: .5pt;display: inline;"> </div>be<div style="letter-spacing: .55pt;display: inline;"> </div>disclosed,<div style="letter-spacing: .5pt;display: inline;"> </div>as<div style="letter-spacing: .6pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">"the</div><div style="letter-spacing: .5pt;display: inline;">
</div>registrant's<div style="letter-spacing: .55pt;display: inline;"> </div>failure<div style="letter-spacing: .5pt;display: inline;"> </div>to<div style="letter-spacing: .5pt;display: inline;"> </div>take<div style="letter-spacing: .5pt;display: inline;"> </div>action<div style="letter-spacing: .6pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">within</div><div style="letter-spacing: .5pt;display: inline;"> </div>a<div style="letter-spacing: .5pt;display: inline;"> </div>reasonable<div style="letter-spacing: .5pt;display: inline;">
</div>period<div style="letter-spacing: .55pt;display: inline;"> </div>of<div style="letter-spacing: 1.75pt;display: inline;"> </div>time<div style="letter-spacing: .1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">regarding</div><div style="letter-spacing: .15pt;display: inline;">
</div>a<div style="letter-spacing: .2pt;display: inline;"> </div>material<div style="letter-spacing: .1pt;display: inline;"> </div>departure<div style="letter-spacing: .15pt;display: inline;">
</div>from<div style="letter-spacing: .15pt;display: inline;"> </div>a<div style="letter-spacing: .1pt;display: inline;"> </div>provision<div style="letter-spacing: .15pt;display: inline;"> </div>of<div style="letter-spacing: .15pt;display: inline;"> </div>the<div style="letter-spacing: .1pt;display: inline;"> </div>code<div style="letter-spacing: .15pt;display: inline;"> </div>of<div style="letter-spacing: .15pt;display: inline;"> </div>ethics<div style="letter-spacing: .15pt;display: inline;"> </div>that<div style="letter-spacing: .1pt;display: inline;"> </div>has<div style="letter-spacing: .15pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">been</div><div style="letter-spacing: .15pt;display: inline;"> </div>made<div style="letter-spacing: .1pt;display: inline;"> </div>known<div style="letter-spacing: .15pt;display: inline;"> </div>to<div style="letter-spacing: .15pt;display: inline;"> </div>an<div style="letter-spacing: .1pt;display: inline;"> </div>executive<div style="letter-spacing: .2pt;display: inline;">
</div>officer"<div style="letter-spacing: .15pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">of</div><div style="letter-spacing: .1pt;display: inline;"> </div>the<div style="letter-spacing: 1.25pt;display: inline;"> </div>registrant.<div style="letter-spacing: 1.85pt;display: inline;"> </div>See<div style="letter-spacing: -.15pt;display: inline;"> </div>Part<div style="letter-spacing: -.15pt;display: inline;"> </div>X.</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;text-align: justify;line-height: 10.7pt;margin-left: 13.0pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 6.5pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;position: relative;top: -3.5pt;display: inline;">5 <div style="letter-spacing: .95pt;display: inline;">&#160;</div></div><div style="font-size: 8.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">See<div style="letter-spacing: -.1pt;display: inline;"> </div>Part<div style="letter-spacing: -.1pt;display: inline;"> </div>X.</div></div>

</div><div style="font-size: 8.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection4">

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<div style="font-size: 9.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div>

<br clear="ALL">

<h2 style="text-indent: -.65in;font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;font-weight: normal;margin-top: 3.45pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 56.0pt">VII.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div><div style="letter-spacing: -.05pt;display: inline;">Amendments</div></h2>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 0in;margin-right: 11.1pt;margin-bottom: .0001pt;margin-left: 19.95pt">Any<div style="letter-spacing: -.3pt;display: inline;"> </div>amendments<div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: -.3pt;display: inline;"> </div>this<div style="letter-spacing: -.3pt;display: inline;"> </div>Code,<div style="letter-spacing: -.3pt;display: inline;"> </div>other<div style="letter-spacing: -.3pt;display: inline;"> </div>than<div style="letter-spacing: -.3pt;display: inline;"> </div>amendments<div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>Exhibit<div style="letter-spacing: -.3pt;display: inline;"> </div>A,<div style="letter-spacing: -.3pt;display: inline;"> </div>must<div style="letter-spacing: -.3pt;display: inline;"> </div>be<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">approved</div><div style="letter-spacing: 1.3pt;display: inline;">
</div>or<div style="letter-spacing: -.3pt;display: inline;"> </div>ratified<div style="letter-spacing: -.25pt;display: inline;"> </div>by<div style="letter-spacing: -.25pt;display: inline;"> </div>a<div style="letter-spacing: -.25pt;display: inline;"> </div>majority<div style="letter-spacing: -.25pt;display: inline;">
</div>vote<div style="letter-spacing: -.25pt;display: inline;"> </div>of<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">FT</div><div style="letter-spacing: -.25pt;display: inline;"> </div>Funds&#8217;<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Board</div><div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">including</div><div style="letter-spacing: -.25pt;display: inline;"> </div>a<div style="letter-spacing: -.25pt;display: inline;"> </div>majority<div style="letter-spacing: -.25pt;display: inline;"> </div>of<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">independent</div><div style="letter-spacing: 2.35pt;display: inline;"> </div>directors.</div>

<h2 style="text-indent: -50.15pt;font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;font-weight: normal;margin-top: 6.1pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 55.95pt">VIII.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div><div style="letter-spacing: -.05pt;display: inline;">Confidentiality</div></h2>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 0in;margin-right: 5.8pt;margin-bottom: .0001pt;margin-left: 19.95pt">All<div style="letter-spacing: .15pt;display: inline;"> </div>reports<div style="letter-spacing: .2pt;display: inline;"> </div>and<div style="letter-spacing: .2pt;display: inline;"> </div>records<div style="letter-spacing: .15pt;display: inline;"> </div>prepared<div style="letter-spacing: .2pt;display: inline;">
</div>or<div style="letter-spacing: .2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">maintained</div><div style="letter-spacing: .2pt;display: inline;"> </div>pursuant<div style="letter-spacing: .15pt;display: inline;"> </div>to<div style="letter-spacing: .2pt;display: inline;"> </div>this<div style="letter-spacing: .25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Code</div><div style="letter-spacing: .2pt;display: inline;"> </div>will<div style="letter-spacing: .25pt;display: inline;"> </div>be<div style="letter-spacing: .25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">considered</div><div style="letter-spacing: 2.15pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">confidential</div><div style="letter-spacing: -.25pt;display: inline;"> </div>and<div style="letter-spacing: -.25pt;display: inline;"> </div>shall<div style="letter-spacing: -.2pt;display: inline;"> </div>be<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">maintained</div><div style="letter-spacing: -.2pt;display: inline;"> </div>and<div style="letter-spacing: -.2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">protected</div><div style="letter-spacing: -.2pt;display: inline;">
</div>accordingly.<div style="letter-spacing: -.15pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Except</div><div style="letter-spacing: -.2pt;display: inline;"> </div>as<div style="letter-spacing: -.15pt;display: inline;"> </div>otherwise<div style="letter-spacing: -.2pt;display: inline;"> </div>required<div style="letter-spacing: -.2pt;display: inline;"> </div>by<div style="letter-spacing: 3.35pt;display: inline;"> </div>law or<div style="letter-spacing: .05pt;display: inline;">
</div>this Code,<div style="letter-spacing: .05pt;display: inline;"> </div>such matters<div style="letter-spacing: .05pt;display: inline;"> </div>shall<div style="letter-spacing: -.05pt;display: inline;"> </div>not<div style="letter-spacing: .05pt;display: inline;"> </div>be disclosed<div style="letter-spacing: .05pt;display: inline;"> </div>to anyone<div style="letter-spacing: .05pt;display: inline;"> </div>other than<div style="letter-spacing: .05pt;display: inline;"> </div>the FT<div style="letter-spacing: .05pt;display: inline;"> </div>Funds&#8217;
Board<div style="letter-spacing: 1.05pt;display: inline;"> </div>and<div style="letter-spacing: -.45pt;display: inline;"> </div>their<div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">counsel.</div></div>

<h2 style="text-indent: -43.45pt;font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;font-weight: normal;margin-top: 6.1pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 55.95pt">IX.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>Internal Use</h2>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 0in;margin-right: 5.85pt;margin-bottom: .0001pt;margin-left: 19.95pt">The<div style="letter-spacing: -.15pt;display: inline;"> </div>Code<div style="letter-spacing: -.1pt;display: inline;"> </div>is<div style="letter-spacing: -.1pt;display: inline;"> </div>intended<div style="letter-spacing: -.15pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">solely</div><div style="letter-spacing: -.1pt;display: inline;"> </div>for<div style="letter-spacing: -.1pt;display: inline;"> </div>the<div style="letter-spacing: -.15pt;display: inline;"> </div>internal<div style="letter-spacing: -.1pt;display: inline;">
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</div>to<div style="letter-spacing: -.2pt;display: inline;"> </div>each<div style="letter-spacing: -.2pt;display: inline;"> </div>Fund&#8217;s<div style="letter-spacing: -.2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">annual</div><div style="letter-spacing: -.2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">report;</div><div style="letter-spacing: -.25pt;display: inline;">
</div>and</div>

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</div></div>any<div style="letter-spacing: -.3pt;display: inline;"> </div>amendments<div style="letter-spacing: -.3pt;display: inline;"> </div>to,<div style="letter-spacing: -.3pt;display: inline;"> </div>or<div style="letter-spacing: -.3pt;display: inline;"> </div>waivers<div style="letter-spacing: -.3pt;display: inline;">
</div>(including<div style="letter-spacing: -.3pt;display: inline;"> </div>implicit<div style="letter-spacing: -.3pt;display: inline;"> </div>waivers)<div style="letter-spacing: -.3pt;display: inline;">
</div>from,<div style="letter-spacing: -.3pt;display: inline;"> </div>a<div style="letter-spacing: -.3pt;display: inline;"> </div>provision<div style="letter-spacing: -.3pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div>Code<div style="letter-spacing: 1.05pt;display: inline;"> </div>is<div style="letter-spacing: -.3pt;display: inline;"> </div>disclosed<div style="letter-spacing: -.35pt;display: inline;"> </div>in<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">registrant's</div><div style="letter-spacing: -.3pt;display: inline;"> </div>annual<div style="letter-spacing: -.3pt;display: inline;"> </div>report<div style="letter-spacing: -.3pt;display: inline;"> </div>on<div style="letter-spacing: -.3pt;display: inline;"> </div>Form<div style="letter-spacing: -.3pt;display: inline;"> </div>N-CSR.</div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 6.0pt;margin-right: 13.0pt;margin-bottom: .0001pt;margin-left: 19.95pt">In<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.2pt;display: inline;"> </div>event<div style="letter-spacing: -.25pt;display: inline;"> </div>that<div style="letter-spacing: -.2pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">foregoing</div><div style="letter-spacing: -.2pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">disclosure</div><div style="letter-spacing: -.25pt;display: inline;"> </div>is<div style="letter-spacing: -.2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">omitted</div><div style="letter-spacing: -.25pt;display: inline;">
</div>or<div style="letter-spacing: -.2pt;display: inline;"> </div>is<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">determined</div><div style="letter-spacing: -.2pt;display: inline;"> </div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>be<div style="letter-spacing: -.2pt;display: inline;"> </div>incorrect,<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">the</div><div style="letter-spacing: 3.45pt;display: inline;"> </div>Legal<div style="letter-spacing: -.25pt;display: inline;">
</div>Department<div style="letter-spacing: -.3pt;display: inline;"> </div>shall<div style="letter-spacing: -.25pt;display: inline;"> </div>promptly<div style="letter-spacing: -.25pt;display: inline;">
</div>file<div style="letter-spacing: -.25pt;display: inline;"> </div>such<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">information</div><div style="letter-spacing: -.25pt;display: inline;"> </div>with<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">the</div><div style="letter-spacing: -.25pt;display: inline;"> </div>SEC<div style="letter-spacing: -.3pt;display: inline;"> </div>as<div style="letter-spacing: -.25pt;display: inline;"> </div>an<div style="letter-spacing: -.25pt;display: inline;"> </div>amendment<div style="letter-spacing: -.25pt;display: inline;"> </div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>Form<div style="letter-spacing: 1.2pt;display: inline;"> </div>N-CSR.</div>

<div style="text-indent: .5in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 5.95pt;margin-right: 9.85pt;margin-bottom: .0001pt;margin-left: 19.95pt">In<div style="letter-spacing: -.25pt;display: inline;"> </div>such<div style="letter-spacing: -.25pt;display: inline;"> </div>an<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">event,</div><div style="letter-spacing: -.25pt;display: inline;">
</div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>Fund<div style="letter-spacing: -.25pt;display: inline;"> </div>Chief<div style="letter-spacing: -.25pt;display: inline;">
</div>Compliance<div style="letter-spacing: -.25pt;display: inline;"> </div>Officer<div style="letter-spacing: -.25pt;display: inline;"> </div>shall<div style="letter-spacing: -.25pt;display: inline;">
</div>review<div style="letter-spacing: -.25pt;display: inline;"> </div>the<div style="letter-spacing: -.25pt;display: inline;"> </div>Code<div style="letter-spacing: -.25pt;display: inline;"> </div>and<div style="letter-spacing: -.25pt;display: inline;"> </div>propose<div style="letter-spacing: 1.25pt;display: inline;">
</div>such<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">changes</div><div style="letter-spacing: -.3pt;display: inline;"> </div>to<div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.35pt;display: inline;"> </div>Code<div style="letter-spacing: -.3pt;display: inline;"> </div>as<div style="letter-spacing: -.3pt;display: inline;"> </div>are<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">necessary</div><div style="letter-spacing: -.35pt;display: inline;"> </div>or<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">appropriate</div><div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">to</div><div style="letter-spacing: -.35pt;display: inline;"> </div>prevent<div style="letter-spacing: -.3pt;display: inline;">
</div>reoccurrences.</div>

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<br clear="ALL">

<h1 style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 3.45pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 6.0pt"><div style="letter-spacing: -.05pt;display: inline;">EXHIBIT</div><div style="letter-spacing: -.45pt;display: inline;"> </div>A</h1>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .35pt;margin-bottom: .0001pt"><b><div style="font-size: 7.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></b></div>

<div style="text-indent: -90.2pt;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 3.55pt;margin-right: 92.95pt;margin-bottom: .0001pt;margin-left: 205.7pt">Persons<div style="letter-spacing: -.4pt;display: inline;"> </div>Covered<div style="letter-spacing: -.4pt;display: inline;">
</div>by<div style="letter-spacing: -.35pt;display: inline;"> </div>the<div style="letter-spacing: -.35pt;display: inline;"> </div>Franklin<div style="letter-spacing: -.4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Templeton</div><div style="letter-spacing: -.4pt;display: inline;">
</div>Funds<div style="letter-spacing: 1.35pt;display: inline;"> </div>Code<div style="letter-spacing: -.35pt;display: inline;"> </div>of<div style="letter-spacing: -.35pt;display: inline;"> </div>Ethics</div>

<div style="text-indent: 194.8pt;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 6.0pt">December<div style="letter-spacing: -.8pt;display: inline;"> </div>2018</div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<h1 style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 6.0pt">FRANKLIN GROUP<div style="letter-spacing: -.25pt;display: inline;"> </div>OF FUNDS</h1>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .45pt;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></b></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 6.0pt;margin-right: 24.2pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.05pt;display: inline;">Edward</div><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;"> <div style="letter-spacing: -.05pt;display: inline;">Perks&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President</div> <div style="letter-spacing: -.05pt;display: inline;">and</div> <div style="letter-spacing: -.05pt;display: inline;">Chief
Executive Officer</div><div style="letter-spacing: -.1pt;display: inline;"> </div>&#8211;<div style="letter-spacing: -.05pt;display: inline;"> Investment</div><div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Management</div><div style="letter-spacing: 1.45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Rupert
H. Johnson, Jr.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chairman</div><div style="letter-spacing: .05pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">of the
Board and</div><div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Vice President&#8211; Investment </div><div style="letter-spacing: -.1pt;display: inline;">Management</div><div style="letter-spacing: 2.1pt;display: inline;">
</div>Don <div style="letter-spacing: -.05pt;display: inline;">Taylor&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President</div>
<div style="letter-spacing: -.05pt;display: inline;">and</div> <div style="letter-spacing: -.05pt;display: inline;">Chief Executive Officer</div><div style="letter-spacing: -.1pt;display: inline;"> </div>&#8211;<div style="letter-spacing: -.05pt;display: inline;"> Investment</div><div style="letter-spacing: -.15pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Management</div></div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;line-height: 11.5pt;margin-left: 6.0pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.05pt;display: inline;">Sonal</div><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;"> <div style="letter-spacing: -.05pt;display: inline;">Desai)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President</div>
<div style="letter-spacing: -.05pt;display: inline;">and</div> <div style="letter-spacing: -.05pt;display: inline;">Chief</div> <div style="letter-spacing: -.05pt;display: inline;">Executive</div> <div style="letter-spacing: -.05pt;display: inline;">Officer</div><div style="letter-spacing: -.1pt;display: inline;">
</div>&#8211; <div style="letter-spacing: -.05pt;display: inline;">Investment</div><div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Management</div></div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;line-height: 11.5pt;margin-left: 6.0pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.05pt;display: inline;">Matthew
Hinkle&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief Executive Officer </div><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#8211;<div style="letter-spacing: -.05pt;display: inline;"> Finance</div> <div style="letter-spacing: -.05pt;display: inline;">and
Administration</div></div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 6.0pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.05pt;display: inline;">Gaston R. Gardey&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Financial Officer and Chief Accounting Officer and </div><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.1pt;display: inline;">Treasurer</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><div style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<h1 style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 6.0pt"><div style="letter-spacing: -.05pt;display: inline;">FRANKLIN MUTUAL</div><div style="letter-spacing: -.2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">SERIES
FUNDS</div></h1>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .45pt;margin-bottom: .0001pt"><b><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></b></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 6.0pt;margin-right: 95.8pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.05pt;display: inline;">Peter Langerman&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Executive Officer </div><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#8211;<div style="letter-spacing: -.05pt;display: inline;"> Investment Management</div><div style="letter-spacing: 1.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Matthew
Hinkle&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief Executive Officer </div>&#8211;<div style="letter-spacing: -.05pt;display: inline;"> Finance</div> <div style="letter-spacing: -.05pt;display: inline;">and
Administration</div><div style="letter-spacing: 1.5pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Robert G. Kubilis&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Financial Officer and Chief Accounting Officer</div></div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 14.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<h1 style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 6.0pt"><div style="letter-spacing: -.05pt;display: inline;">FRANKLIN ALTERNATIVE STRATEGIES FUNDS</div></h1>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><b><div style="font-size: 11.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></b></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 6.0pt;margin-right: 95.8pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.05pt;display: inline;">Mat S. Gulley&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Executive Officer </div><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#8211;<div style="letter-spacing: -.05pt;display: inline;"> Investment </div><div style="letter-spacing: -.1pt;display: inline;">Management</div><div style="letter-spacing: 1.5pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Matthew Hinkle&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Executive</div> <div style="letter-spacing: -.05pt;display: inline;">Officer </div>&#8211;<div style="letter-spacing: -.05pt;display: inline;"> Finance</div> <div style="letter-spacing: -.05pt;display: inline;">and
Administration</div><div style="letter-spacing: 1.95pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Robert G. Kubilis&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Financial Officer and Chief Accounting</div> <div style="letter-spacing: -.05pt;display: inline;">Officer</div></div></div>

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<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<h1 style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 6.9pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 6.0pt"><div style="letter-spacing: -.05pt;display: inline;">TEMPLETON</div>
GROUP<div style="letter-spacing: -.3pt;display: inline;"> </div>OF FUNDS</h1>

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<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;text-align: justify;margin-left: 5.95pt;margin-right: 42.55pt;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.05pt;display: inline;">Manraj
S. Sekhon&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President and</div><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;"> <div style="letter-spacing: -.05pt;display: inline;">Chief
Executive Officer</div><div style="letter-spacing: -.1pt;display: inline;"> </div>&#8211;<div style="letter-spacing: -.05pt;display: inline;"> Investment</div><div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Management</div><div style="letter-spacing: 1.05pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Michael</div>
<div style="letter-spacing: -.05pt;display: inline;">Hasenstab,</div> Ph.D.<div style="letter-spacing: .5pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">President
and Chief Executive Officer</div><div style="letter-spacing: -.1pt;display: inline;"> </div>&#8211; <div style="letter-spacing: -.05pt;display: inline;">Investment</div><div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Management</div><div style="letter-spacing: 2.25pt;display: inline;"> </div>Norman <div style="letter-spacing: -.05pt;display: inline;">Boersma&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; President</div>
<div style="letter-spacing: -.05pt;display: inline;">and</div> <div style="letter-spacing: -.05pt;display: inline;">Chief Executive Officer</div><div style="letter-spacing: -.1pt;display: inline;"> </div>&#8211;<div style="letter-spacing: -.05pt;display: inline;"> Investment</div><div style="letter-spacing: -.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Management</div><div style="letter-spacing: 2.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Matthew
Hinkle&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief Executive Officer </div>&#8211;<div style="letter-spacing: -.05pt;display: inline;"> Finance</div> <div style="letter-spacing: -.05pt;display: inline;">and
Administration</div></div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 6.0pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.05pt;display: inline;">Robert G. Kubilis&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Chief
Financial Officer, Chief Accounting Officer and Treasurer</div></div>

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</div><div style="page: WordSection5">

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<div style="font-size: 9.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div>

<br clear="ALL">

<h1 align="center" style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: center;text-indent: -.1pt;line-height: 186%;margin-top: 3.45pt;margin-right: 190.2pt;margin-bottom: .0001pt;margin-left: 181.35pt"><div style="letter-spacing: -.05pt;display: inline;">Exhibit </div>B<div style="letter-spacing: 1.1pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">ACKNOWLEDGMENT
FORM</div></h1>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .4pt;margin-bottom: .0001pt"><b><div style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></b></div>

<h3 align="center" style="font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: center;margin-top: 0in;margin-right: 8.85pt;margin-bottom: .0001pt;margin-left: 0in">Franklin<div style="letter-spacing: -.45pt;display: inline;"> </div>Templeton<div style="letter-spacing: -.4pt;display: inline;"> </div>Funds<div style="letter-spacing: -.4pt;display: inline;"> </div>Code<div style="letter-spacing: -.4pt;display: inline;"> </div>of<div style="letter-spacing: -.4pt;display: inline;"> </div>Ethics</h3>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;text-indent: 93.95pt;margin-left: 27.95pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">For<div style="letter-spacing: -.45pt;display: inline;">
</div>Principal<div style="letter-spacing: -.45pt;display: inline;"> </div>Executives<div style="letter-spacing: -.45pt;display: inline;"> </div>and<div style="letter-spacing: -.45pt;display: inline;"> </div>Senior<div style="letter-spacing: -.45pt;display: inline;"> </div>Financial<div style="letter-spacing: -.4pt;display: inline;"> </div>Officers</div></b></div>

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<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .55pt;margin-bottom: .0001pt"><b><div style="font-size: 10.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></b></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;line-height: 12.6pt;margin-left: 27.95pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">Instructions:</div></b></div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;line-height: 12.6pt;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 46.0pt">1.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160; </div><div style="letter-spacing: -.05pt;display: inline;">Complete</div><div style="letter-spacing: -.3pt;display: inline;">
</div>all<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">sections</div><div style="letter-spacing: -.3pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>this<div style="letter-spacing: -.3pt;display: inline;"> </div>form.</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 0in;margin-right: 0in;margin-bottom: .0001pt;margin-left: 46.0pt">2.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;
</div><div style="letter-spacing: -.05pt;display: inline;">Print</div><div style="letter-spacing: -.3pt;display: inline;"> </div>the<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">completed</div><div style="letter-spacing: -.3pt;display: inline;">
</div>form,<div style="letter-spacing: -.3pt;display: inline;"> </div>sign,<div style="letter-spacing: -.3pt;display: inline;"> </div>and<div style="letter-spacing: -.3pt;display: inline;"> </div>date.</div>

<div style="text-indent: -.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;line-height: 12.6pt;margin-top: 1.2pt;margin-right: 39.9pt;margin-bottom: .0001pt;margin-left: 46.0pt"><div style="font-size: 12.0pt;display: inline;">3. <div style="letter-spacing: .6pt;display: inline;">&#160;</div></div>Submit<div style="letter-spacing: -.25pt;display: inline;"> </div>completed<div style="letter-spacing: -.3pt;display: inline;"> </div>form<div style="letter-spacing: -.25pt;display: inline;"> </div>to<div style="letter-spacing: -.25pt;display: inline;"> </div>FT&#8217;s<div style="letter-spacing: -.25pt;display: inline;"> </div>General<div style="letter-spacing: -.25pt;display: inline;"> </div>Counsel<div style="letter-spacing: -.35pt;display: inline;">
</div>c/o<div style="letter-spacing: -.25pt;display: inline;"> </div>Code<div style="letter-spacing: -.25pt;display: inline;"> </div>of<div style="letter-spacing: -.25pt;display: inline;"> </div>Ethics<div style="letter-spacing: -.25pt;display: inline;"> </div>Administration<div style="letter-spacing: -.3pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">within</div><div style="letter-spacing: -.25pt;display: inline;"> </div>10<div style="letter-spacing: 1.2pt;display: inline;"> </div>days<div style="letter-spacing: -.3pt;display: inline;"> </div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>becoming<div style="letter-spacing: -.25pt;display: inline;"> </div>a<div style="letter-spacing: -.3pt;display: inline;"> </div>Covered<div style="letter-spacing: -.25pt;display: inline;"> </div>Officer<div style="letter-spacing: -.3pt;display: inline;">
</div>and<div style="letter-spacing: -.25pt;display: inline;"> </div>by<div style="letter-spacing: -.3pt;display: inline;"> </div>February<div style="letter-spacing: -.25pt;display: inline;"> </div>15<div style="font-size: 7.0pt;position: relative;top: -3.5pt;display: inline;">th<div style="letter-spacing: .8pt;display: inline;"> </div></div>of<div style="letter-spacing: -.3pt;display: inline;"> </div>each<div style="letter-spacing: -.25pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">subsequent</div><div style="letter-spacing: -.3pt;display: inline;"> </div>year.</div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .4pt;margin-bottom: .0001pt"><div style="font-size: 10.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 46.0pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">Inter-office<div style="letter-spacing: -.45pt;display: inline;"> </div>mail:<div style="letter-spacing: .75pt;display: inline;"> </div></div></b><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.05pt;display: inline;">Code</div><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;letter-spacing: -.45pt;display: inline;"> </div><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">of<div style="letter-spacing: -.4pt;display: inline;"> </div>Ethics<div style="letter-spacing: -.45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Administration,</div><div style="letter-spacing: -.4pt;display: inline;"> </div>Global<div style="letter-spacing: -.45pt;display: inline;">
</div>Compliance<div style="letter-spacing: -.4pt;display: inline;"> </div>SM-920/2</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;line-height: 12.6pt;margin-left: 46.0pt;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">Fax:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div></b><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">(650)<div style="letter-spacing: -.75pt;display: inline;">
</div>312-5646</div></div>

<div style="text-indent: -1.25in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;margin-top: 0in;margin-right: 129.05pt;margin-bottom: .0001pt;margin-left: 135.95pt"><b>E-mail:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </b><div style="letter-spacing: -.05pt;display: inline;">Code</div><div style="letter-spacing: -.4pt;display: inline;"> </div>of<div style="letter-spacing: -.35pt;display: inline;"> </div>Ethics<div style="letter-spacing: -.35pt;display: inline;">
</div><div style="letter-spacing: -.05pt;display: inline;">Inquiries</div><div style="letter-spacing: -.4pt;display: inline;"> </div>&amp;<div style="letter-spacing: -.35pt;display: inline;"> </div>Requests<div style="letter-spacing: -.35pt;display: inline;"> </div>(internal<div style="letter-spacing: -.35pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">address);</div><div style="color: windowtext;letter-spacing: 1.95pt;text-decoration: none;display: inline;"> </div><div style="color: windowtext;letter-spacing: -.05pt;text-decoration: none;display: inline;">lpreclear@franklintempleton.com</div><div style="letter-spacing: -1.25pt;display: inline;"> </div>(external<div style="letter-spacing: -1.25pt;display: inline;"> </div>address)</div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .1pt;margin-bottom: .0001pt"><div style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

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  <div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>
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  <div style="mso-style-name: &quot;Table Paragraph&quot;;font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 4.95pt;margin-right: 0in;margin-top: 6.65pt;margin-bottom: .0001pt"><b><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">Department:</div></b></div>
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  <div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>
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  <div style="mso-style-name: &quot;Table Paragraph&quot;;font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 4.95pt;margin-right: 0in;margin-top: 5.35pt;margin-bottom: .0001pt"><b><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">Location:</div></b></div>
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  <div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>
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  <div style="mso-style-name: &quot;Table Paragraph&quot;;font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 4.95pt;margin-right: 33.85pt;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">Certification<div style="letter-spacing: -.55pt;display: inline;"> </div>for<div style="letter-spacing: -.5pt;display: inline;"> </div>Year<div style="letter-spacing: 1.05pt;display: inline;"> </div>Ending:</div></b></div>
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  <div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>
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<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .4pt;margin-bottom: .0001pt"><div style="font-size: 8.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;text-align: justify;margin-left: 28.0pt;margin-right: 0in;margin-top: 3.55pt;margin-bottom: .0001pt"><b><i><div style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">To:&#160;&#160;&#160; <div style="letter-spacing: 1.95pt;display: inline;">&#160;</div>Franklin<div style="letter-spacing: -.25pt;display: inline;"> </div>Resources<div style="letter-spacing: -.25pt;display: inline;"> </div>General<div style="letter-spacing: -.3pt;display: inline;">
</div>Counsel,<div style="letter-spacing: -.25pt;display: inline;"> </div>Legal<div style="letter-spacing: -.25pt;display: inline;"> </div>Department</div></i></b></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .5pt;margin-bottom: .0001pt"><b><i><div style="font-size: 10.5pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></i></b></div>

<div style="text-indent: 0in;font-size: 11.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;text-align: justify;margin-top: 0in;margin-right: 36.9pt;margin-bottom: .0001pt;margin-left: 28.0pt">I<div style="letter-spacing: 1.5pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">acknowledge</div><div style="letter-spacing: 1.5pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">receiving,</div><div style="letter-spacing: 1.55pt;display: inline;"> </div>reading<div style="letter-spacing: 1.5pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">and</div><div style="letter-spacing: 1.55pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">understanding</div><div style="letter-spacing: 1.5pt;display: inline;"> </div>the<div style="letter-spacing: 1.55pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Franklin</div><div style="letter-spacing: 1.55pt;display: inline;">
</div>Templeton<div style="letter-spacing: 1.55pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Fund&#8217;s</div><div style="letter-spacing: 1.5pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Code</div><div style="letter-spacing: 1.55pt;display: inline;"> </div>of<div style="letter-spacing: 4.85pt;display: inline;"> </div>Ethics<div style="letter-spacing: .4pt;display: inline;"> </div>for<div style="letter-spacing: .45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Principal</div><div style="letter-spacing: .45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Executive</div><div style="letter-spacing: .4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Officers</div><div style="letter-spacing: .45pt;display: inline;"> </div>and<div style="letter-spacing: .45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Senior</div><div style="letter-spacing: .45pt;display: inline;"> </div>Financial<div style="letter-spacing: .4pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">Officers</div><div style="letter-spacing: .4pt;display: inline;"> </div>(the<div style="letter-spacing: .4pt;display: inline;"> </div>&#8220;Code&#8221;).<div style="letter-spacing: .9pt;display: inline;"> </div>I<div style="letter-spacing: .45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">will</div><div style="letter-spacing: .45pt;display: inline;"> </div>comply<div style="letter-spacing: 3.85pt;display: inline;"> </div>fully<div style="letter-spacing: 1.8pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">with</div><div style="letter-spacing: 1.8pt;display: inline;"> </div>all<div style="letter-spacing: 1.8pt;display: inline;"> </div>provisions<div style="letter-spacing: 1.75pt;display: inline;"> </div>of<div style="letter-spacing: 1.8pt;display: inline;"> </div>the<div style="letter-spacing: 1.85pt;display: inline;"> </div>Code<div style="letter-spacing: 1.75pt;display: inline;"> </div>to<div style="letter-spacing: 1.8pt;display: inline;"> </div>the<div style="letter-spacing: 1.75pt;display: inline;"> </div>extent<div style="letter-spacing: 1.8pt;display: inline;"> </div>they<div style="letter-spacing: 1.85pt;display: inline;"> </div>apply<div style="letter-spacing: 1.85pt;display: inline;"> </div>to<div style="letter-spacing: 1.8pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">me</div><div style="letter-spacing: 1.8pt;display: inline;"> </div>during<div style="letter-spacing: 1.8pt;display: inline;"> </div>the<div style="letter-spacing: 1.8pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">period</div><div style="letter-spacing: 1.85pt;display: inline;">
</div>of<div style="letter-spacing: 1.8pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">my</div><div style="letter-spacing: 1.05pt;display: inline;"> </div>employment.<div style="letter-spacing: .4pt;display: inline;"> </div>I<div style="letter-spacing: .15pt;display: inline;"> </div>further<div style="letter-spacing: .2pt;display: inline;"> </div>understand<div style="letter-spacing: .15pt;display: inline;">
</div>and<div style="letter-spacing: .2pt;display: inline;"> </div>acknowledge<div style="letter-spacing: .2pt;display: inline;"> </div>that<div style="letter-spacing: .15pt;display: inline;"> </div>any<div style="letter-spacing: .2pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">violation</div><div style="letter-spacing: .25pt;display: inline;"> </div>of<div style="letter-spacing: .2pt;display: inline;"> </div>the<div style="letter-spacing: .2pt;display: inline;"> </div>Code<div style="letter-spacing: .15pt;display: inline;"> </div>may<div style="letter-spacing: .2pt;display: inline;"> </div>subject<div style="letter-spacing: 1.1pt;display: inline;"> </div>me<div style="letter-spacing: -.45pt;display: inline;"> </div>to<div style="letter-spacing: -.4pt;display: inline;"> </div>disciplinary<div style="letter-spacing: -.4pt;display: inline;"> </div>action,<div style="letter-spacing: -.45pt;display: inline;">
</div>including<div style="letter-spacing: -.45pt;display: inline;"> </div><div style="letter-spacing: -.05pt;display: inline;">termination</div><div style="letter-spacing: -.4pt;display: inline;"> </div>of<div style="letter-spacing: -.4pt;display: inline;"> </div>employment.</div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 10.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: .25pt;margin-bottom: .0001pt"><div style="font-size: 12.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;">&#160;</div></div>

<div style="font-size: 11.0pt;font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;;line-height: 2.0pt;margin-left: .75in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 2.0pt;font-family: &quot;Arial&quot;,&quot;sans-serif&quot;;display: inline;"><img width="234" height="3" src="word4788888535043.gif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <img width="280" height="3" src="word4788888535044.gif"></div></div>

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signed</div></i></b></div>

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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>3
<FILENAME>section302.htm
<TEXT>
<html><head></head><body><div style="page: WordSection1">

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">I, Matthew T. Hinkle, certify that:</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;line-height: 50%;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">1. I have reviewed this report on
Form N-CSR of <b>Templeton Global Income Fund</b>;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">2. Based on my
knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report; <b>&#160;</b>&#160;</div>

<div style="mso-style-link: &quot;Body Text Indent Char&quot;;text-align: justify;text-indent: .25in;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-top: 6.0pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 0in"><div style="font-size: 11.0pt;display: inline;">3. Based on my
knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial
condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the
registrant as of, and for, the periods presented in this report;</div></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">4. The
registrant's other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c)
under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of
1940) for the registrant and have:</div>

<div style="mso-style-link: &quot;Body Text Indent 2 Char&quot;;text-align: justify;text-indent: .25in;font-size: 11.5pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-top: 6.0pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 0in"><div style="font-size: 11.0pt;display: inline;">(a) Designed such
disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the
period in which this report is being prepared;</div></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;line-height: 50%;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">(b) Designed
such internal control over financial reporting, or caused such internal control
over financial reporting to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
generally accepted accounting principles;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;line-height: 50%;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">(c) Evaluated
the effectiveness of the registrant's disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of a date within 90 days prior to the
filing date of this report based on such evaluation; and</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;line-height: 50%;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">(d) Disclosed
in this report any change in the registrant&#8217;s internal control over financial
reporting that occurred during the second fiscal quarter of the period covered
by this report that has materially affected, or is reasonably likely to
materially affect, the registrant&#8217;s internal control over financial reporting;
and&#160; </div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">5. The
registrant's other certifying officer(s) and I have disclosed to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">(a) All
significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to
adversely affect the registrant's ability to record, process, summarize, and
report financial information; and</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">(b) Any fraud,
whether or not material, that involves management or other employees who have a
significant role in the registrant's internal control over financial reporting.</div>

<div style="mso-style-link: &quot;Plain Text Char&quot;;font-size: 10.0pt;font-family: &quot;Courier New&quot;;text-align: justify;line-height: 50%;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 11.0pt;line-height: 50%;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;display: inline;">&#160;</div></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">2/26/2021</div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 50%;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;line-height: 50%;display: inline;">&#160;</div></b></div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 50%;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;line-height: 50%;display: inline;">&#160;</div></b></div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 50%;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;line-height: 50%;display: inline;">&#160;</div></b></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">S\MATTHEW T. HINKLE</div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 12.0pt;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;display: inline;">&#160;</div></b></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Matthew T. Hinkle</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Chief Executive Officer - Finance and Administration </div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

</div><div style="font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection2">

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">I, Robert G. Kubilis, certify that:</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;line-height: 50%;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">1. I have reviewed this report on
Form N-CSR of <b>Templeton Global Income Fund</b>;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">2. Based on my
knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in
light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report; <b>&#160;</b>&#160;</div>

<div style="mso-style-link: &quot;Body Text Indent Char&quot;;text-align: justify;text-indent: .25in;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-top: 6.0pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 0in"><div style="font-size: 11.0pt;display: inline;">3. Based on my
knowledge, the financial statements, and other financial information included
in this report, fairly present in all material respects the financial
condition, results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of the
registrant as of, and for, the periods presented in this report;</div></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">4. The
registrant's other certifying officer(s) and I are responsible for establishing
and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c)
under the Investment Company Act of 1940) and internal control over financial
reporting (as defined in Rule 30a-3(d) under the Investment Company Act of
1940) for the registrant and have:</div>

<div style="mso-style-link: &quot;Body Text Indent 2 Char&quot;;text-align: justify;text-indent: .25in;font-size: 11.5pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-top: 6.0pt;margin-right: 0in;margin-bottom: .0001pt;margin-left: 0in"><div style="font-size: 11.0pt;display: inline;">(a) Designed such
disclosure controls and procedures, or caused such disclosure controls and
procedures to be designed under our supervision, to ensure that material
information relating to the registrant, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the
period in which this report is being prepared;</div></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;line-height: 50%;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">(b) Designed
such internal control over financial reporting, or caused such internal control
over financial reporting to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the
preparation of financial statements for external purposes in accordance with
generally accepted accounting principles;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;line-height: 50%;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">(c) Evaluated
the effectiveness of the registrant's disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the
disclosure controls and procedures, as of a date within 90 days prior to the
filing date of this report based on such evaluation; and</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;line-height: 50%;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;text-autospace: none;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">(d) Disclosed
in this report any change in the registrant&#8217;s internal control over financial
reporting that occurred during the second fiscal quarter of the period covered
by this report that has materially affected, or is reasonably likely to
materially affect, the registrant&#8217;s internal control over financial reporting;
and&#160; </div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">5. The
registrant's other certifying officer(s) and I have disclosed to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing the equivalent functions):</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">(a) All
significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to
adversely affect the registrant's ability to record, process, summarize, and
report financial information; and</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: .25in;margin-left: 0in;margin-right: 0in;margin-top: 6.0pt;margin-bottom: .0001pt">(b) Any fraud,
whether or not material, that involves management or other employees who have a
significant role in the registrant's internal control over financial reporting.</div>

<div style="mso-style-link: &quot;Plain Text Char&quot;;font-size: 10.0pt;font-family: &quot;Courier New&quot;;text-align: justify;line-height: 50%;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><div style="font-size: 11.0pt;line-height: 50%;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;display: inline;">&#160;</div></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">2/26/2021</div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 50%;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;line-height: 50%;display: inline;">&#160;</div></b></div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 50%;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;line-height: 50%;display: inline;">&#160;</div></b></div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 50%;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;line-height: 50%;display: inline;">&#160;</div></b></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">S\ROBERT G. KUBILIS</div>

<div style="mso-style-link: &quot;Body Text Char&quot;;line-height: 12.0pt;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;color: black;text-align: justify;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b><div style="font-size: 11.0pt;display: inline;">&#160;</div></b></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Robert G. Kubilis</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Chief Financial Officer and Chief Accounting Officer </div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

</div><div style="font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection3">

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

</div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>4
<FILENAME>section906.htm
<TEXT>
<html><head></head><body><div style="page: WordSection1">

<div style="mso-style-link: &quot;Title Char&quot;;text-align: center;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;font-weight: bold;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350</div>

<div align="center" style="text-align: center;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b>AS ADOPTED
PURSUANT TO SECTION 906</b></div>

<h1 style="mso-style-link: &quot;Heading 1 Char&quot;;text-align: center;page-break-after: avoid;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">OF THE SARBANES-OXLEY ACT OF 2002</h1>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">I, Matthew T. Hinkle, Chief Executive Officer of the <b>Templeton
Global Income Fund</b> (the &#8220;Registrant&#8221;), certify, pursuant to 18 U.S.C.
Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
2002, that, to my knowledge:</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div align="left" style="text-align: left;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: -.5in;margin-left: .75in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">1.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>The periodic report on Form N-CSR of the Registrant for the period ended
12/31/2020 (the &#8220;Form N-CSR&#8221;) fully complies with the requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934; and</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div align="left" style="text-align: left;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: -.5in;margin-left: .75in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">2.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>The information contained in the Form N-CSR fairly presents, in all
material respects, the financial condition and results of operations of the
Registrant.</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Dated:&#160; 2/26/2021</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; S\MATTHEW T.
HINKLE</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </u></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Matthew T.
Hinkle </div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 2.0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Chief Executive Officer - Finance
and Administration</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 2.0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div>

</div><div style="font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection2">

<div style="mso-style-link: &quot;Title Char&quot;;text-align: center;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;font-weight: bold;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350</div>

<div align="center" style="text-align: center;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt"><b>AS ADOPTED PURSUANT
TO SECTION 906</b></div>

<h1 style="mso-style-link: &quot;Heading 1 Char&quot;;text-align: center;page-break-after: avoid;font-size: 12.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">OF THE SARBANES-OXLEY ACT OF 2002</h1>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">I, Robert G. Kubilis, Chief Financial Officer of the <b>Templeton
Global Income Fund</b> (the &#8220;Registrant&#8221;), certify, pursuant to 18 U.S.C.
Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of
2002, that, to my knowledge:</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div align="left" style="text-align: left;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: -.5in;margin-left: .75in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">1.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>The periodic report on Form N-CSR of the Registrant for the period ended
12/31/2020 (the &#8220;Form N-CSR&#8221;) fully complies with the requirements of Section
13(a) or 15(d) of the Securities Exchange Act of 1934; and</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div align="left" style="text-align: left;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;text-indent: -.5in;margin-left: .75in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">2.<div style="font: 7.0pt &quot;Times New Roman&quot;;display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
</div>The information contained in the Form N-CSR fairly presents, in all
material respects, the financial condition and results of operations of the
Registrant.</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Dated:&#160; 2/26/2021</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; S\ROBERT G.
KUBILIS</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </u></div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Robert G.
Kubilis </div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 2.0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">Chief Financial Officer and Chief
Accounting Officer</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 2.0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div>

</div><div style="font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;display: inline;"><br clear="all" style="page-break-before: always">
</div><div style="page: WordSection3">

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

<div style="text-align: justify;font-size: 11.0pt;font-family: &quot;Times New Roman&quot;,&quot;serif&quot;;margin-left: 0in;margin-right: 0in;margin-top: 0in;margin-bottom: .0001pt">&#160;</div>

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</SEC-DOCUMENT>
